At a glance
From its website, read 2 Nov 2026Northern Maine Development Commission is a loan fund based in Caribou, Maine. Its website describes microloans and small-business loans. Where it lends: Business loan assistance in Aroostook, Washington, Northern Penobscot and Piscataquis counties, Maine. You can start an application online.
Each point is backed by a quote further down this page. Terms change: confirm with the lender.
How to reach them and apply
| Phone | (207) 493-5770 source |
|---|---|
| Apply online | Page with the application link |
| Website | www.nmdc.org |
| Office (official list) | 11 West Presque Isle Road PO Box 779, Caribou, ME 04736 |
What their website says about applying
To request business advising, or to inquire about business loans click here. Please select the business advisor from your county or the closest county.
source
Phone numbers and addresses are the ones on the lender's own site and the CDFI Fund list. CDFI Atlas does not take applications.
Rates and terms they state
Read 2 Nov 2026| Loan | Stated | Text on the lender's site (verbatim) | Page |
|---|---|---|---|
| Loans (general) | Rate stated, not as an APR: see their wording | Brownfields Cleanup Loans up to $250,000 with an interest rate of 3% and up to a 25-year term. | source |
| Microloans | Term: 5 yr–10 yr | Micro Business Loans up to $50,000 with low-fixed interest rates and terms between 5 and 10 years | source |
As published on the lender's website on that date, not an offer or a quote. Your rate depends on the lender's review. A missing rate means the pages we read did not state one. For consumer loans we repeat a rate only when the lender states it as an APR (annual percentage rate, which includes fees); otherwise read the lender's own wording and ask for the APR.
Official record
CDFI Fund list, 21 Oct 2026| Institution type | Loan fund |
|---|---|
| Native CDFI | No |
| Date certified (as listed) | 13 Jan 2026 |
| RSSD ID | — (none listed) |
| Address | 11 West Presque Isle Road PO Box 779, Caribou, ME 04736 |
| Website | www.nmdc.org |
Head officeBranch or officeApproximate (ZIP code area)
Map data © OpenStreetMap contributors, © OpenMapTiles, tiles OpenFreeMap. Head-office points: U.S. Census Bureau geocoder.
Loans and eligibility
Verified from lender site on 2 Nov 2026Read from 7 pages of the lender's website on 2 Nov 2026. Quotes are verbatim. Extracted with AI help from the pages listed below and checked automatically against them. Not reviewed by a person. Confidence: medium. The small business loan amount is printed as '$1,000,00' and was not converted, and the Brownfields Cleanup Loan program was omitted as not clearly a fit. Terms change — confirm with the lender before applying.
| Product | Amount stated | Text on the lender's site (verbatim, incl. menu labels) | Page |
|---|---|---|---|
| Microloans | up to $50,000 | Micro Business Loans up to $50,000 with low-fixed interest rates and terms between 5 and 10 years | source |
| Small-business loans | — | Small Business Loans up to $1,000,00, contingent on available funding. | source |
Loan sizes
Micro Business Loans up to $50,000 with low-fixed interest rates and terms between 5 and 10 years
source
Service area
Business loan assistance in Aroostook, Washington, Northern Penobscot and Piscataquis counties, Maine
Northern Maine Development Commission (NMDC) is here to help you navigate the process of applying for business loans in Aroostook, Washington, Northern Penobscot, and Piscatiquis counties
source
Counties this matches: Aroostook County, ME, Piscataquis County, ME, Washington County, ME
Borrower focus
- Not stated on the pages we read.
Languages
- No non-English service found on the pages we read.
Online application
Yes — the site links to an application. To request advising or to start the loan process click here
source
Pages read (7)
Questions to ask when you contact them
Based on what their website said when we read it on 2 Nov 2026, and what it left out. Something missing here does not mean they don't offer it: ask.
- What are the smallest and the largest loans you make?
No loan amounts are stated on their website. - Do you need collateral, a business plan or a minimum time in business?
Their website does not say what they require. - Do you offer free coaching or help preparing my application?
CDFI certification requires development services, such as training or advice, alongside lending. - What documents will you need from me, and how long does a decision usually take?
Their website describes some application steps (above); ask for the full document list.
Write down the answers, who you spoke to and the date, and ask for the terms in writing before you sign.
CDFI Fund awards
CDFI Fund database, 3 Nov 2026$4.6 million in 5 awards from the U.S. Treasury's CDFI Fund, 2016–2022 (4 programs).
| Round year | Program | Amount |
|---|---|---|
| 2022 | CDFI Equitable Recovery Program | $1,652,559 |
| 2021 | CDFI Program, Financial Assistance | $500,000 |
| 2021 | CDFI Rapid Response Program | $1,826,265 |
| 2019 | CDFI Program, Financial Assistance | $500,000 |
| 2016 | CDFI Program, Technical Assistance | $124,544 |
These are awards and investments made to the institution itself to build its capital and capacity. They are not loans to borrowers, and an award does not mean the lender has money available for a particular loan today.
Source: CDFI Fund Searchable Awards Database, all 12,628 award records (1996–2025), read 3 Nov 2026. Years are the award round as the database lists it. Matched to the official CDFI list by exact name and state; see the method on the About page.
Size of the fund (IRS Form 990)
Fiscal year ending Jun 2023| Total assets | $27.3M |
|---|---|
| Total liabilities | $6.2M |
| Net assets | $21M |
| Total revenue | $12.6M |
| Notes and loans receivable, net (Part X line 7) | $24.1M |
End-of-year figures from the Form 990 this organisation filed with the IRS for the fiscal year ending June 2023 (tax year 2022; EIN 22-2635303, filed as “NORTHERN MAINE DEVELOPMENT COMMISSION INC”), taken from the IRS Annual Extract of Tax-Exempt Organization Financial Data (returns processed in 2024). Figures are self-reported to the IRS, not audited by us, and lag one to two years behind today. The lender’s own annual report may show newer numbers. This organisation’s filings on ProPublica Nonprofit Explorer
Filings over time
| Fiscal year ending | Total assets | Net assets | Revenue | Notes and loans receivable |
|---|---|---|---|---|
| Jun 2021 (990) | $20.8M | $10.7M | $32.3M | $15.3M |
| Jun 2022 (990) | $19.1M | $12.4M | $27.9M | $12.1M |
| Jun 2023 (990) | $27.3M | $21M | $12.6M | $24.1M |
Total assets grew 31% from Jun 2021 to Jun 2023; notes and loans receivable rose 58%. One row per fiscal year in the IRS extracts of returns processed in 2022, 2023, 2024; “—” = the line was empty or zero on that return (a fund can book its loans on other lines).
How it compares
Computed from public data| Measure | This lender | Compared with |
|---|---|---|
| Total assets, latest IRS Form 990 | $27.3M | Larger than 60% of the 5 other certified loan funds and venture funds in Maine with a matched Form 990 (median $15.6M). |
How these comparisons were worked out
| Measure | Peer group (this lender left out) | Peers | Where this lender sits |
|---|---|---|---|
| Form 990 total assets | certified loan and venture funds with a Form 990, in Maine | 5 | larger than 60% |
“Larger than X%” = the share of the peer group with a smaller value. Ranks count from the largest. Peer groups use the lender's home state when it has at least 5 peers, otherwise the whole country. Full definitions: methodology.
For comparison, not an offer and not a rating. Past records show what this lender did, not what you would be offered. Peer groups and sources: methodology. Form 990 figures: IRS annual extracts (see the Form 990 section).
Other certified CDFIs in Caribou and Maine
- Acadia Federal Credit UnionCredit union · Fort Ken, MEAuto / vehicle loans, Home mortgages, Personal / consumer loansVerified
- COMMUNITY CONCEPTS FINANCE CORPORATIONLoan fund · South Paris, MEMicroloans, Home mortgages, Small-business loansVerified
- Coastal Enterprises, Inc.Loan fund · Brunswick, MEAgriculture / farm loans, Child-care facility financing, Commercial real estate loans, Energy / solar / efficiency loans…Verified
- Four Directions Development CorporationLoan fund · Orono, ME · Native CDFIHome repair / improvement loans, Affordable housing development loans, Home mortgages, Nonprofit / community facility loans…Verified
- Genesis Fund, Inc.Loan fund · Brunswick, MEAffordable housing development loans, Nonprofit / community facility loansVerified
- MaineStream FinanceLoan fund · Bangor, MEHome mortgages, Small-business loansVerified
Work at Northern Maine Development Commission? Link to this page
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