Development Loan

Award: Up to $500,000

Timing: Anytime

Intent: Up to $500,000 for R&D activities, similar to MTI’s Seed Grant program, but allowing for larger, more comprehensive projects. Unlike Seed Grants, Development Loans also allow for some sales, marketing and overhead expenditures.

The amount of funding requested for MTI Development Loans requires at least a 1:1 ratio of matching funds, providing an equal or greater co-investment in the application proposal.  Please see the following PDF link to learn more about definitions of matching funds allowed in MTI applications click here.

Development Loan Process

There are four stages to the MTI Development Loan Application process:

  • Stage 1: Concept Review/Letter of Interest
  • Stage 2: Application Submission
  • Stage 3: Application Review
  • Stage 4: Post-Review Activity


Stage 1:
Submit a Letter of Interest package.

Prospective applicants are required to meet with MTI staff prior to submitting a Letter of Interest. The Letter of Interest package includes an Acknowledgement Letter, Registration Form, Executive Summary, and a history of past/current MTI funding. Please email the Letter of Interest package as one PDF file to afinkenhoefer@mainetechnology.org.


Stage 2: Application Submission 

This stage includes both the draft application and final application submission. Review the Development Loan Application Instructions and download the required Application Forms. Individual form links are provided for your convenience below.

Please use the Application Checklist to organize your final application as one complete PDF file for upload into the GIFTS Online Application Portal.

Links to Individual Application Forms:

Letter of Interest Package
Registration Form
Application Instructions
Application Checklist
Form B & D – Period and Project Budget forms
Form C – Intellectual Property
Form E – Repayment Plan
Form F – Economic Impact Summary
Form G – Credit Authorization
Sample Commitment Letter (Word) (PDF)


Stage 3:  Application Review

The Application Review includes independent technical and financial reviews, as well as review by the sector-specific Technology Board. Applications recommended for consideration will be forwarded to the MTI Board of Directors for a final funding decision.

Peer Reviewer Guidelines are provided to our reviewers, and the Technology Boards use the Review Committee Guidance. Applicants will receive a copy of all reviewer feedback and be allowed to respond in writing.


Stage 4: Post-Award Activity

Post-Award activity includes executing the Development Loan Agreement and Security Agreement (as needed).

Awardees will also update Budget Form B and D as needed and will be responsible for completing the Reporting Requirements or each project period.