The Blitz Question: Quick Funding for Startups

Evan Richert

4 days ago

2 min read

UpStart Maine. Inc.’s 2026 Blitz Conference was one of its biggest yet, connecting entrepreneurs with mentors, experts in various fields, and other brilliant founders in Maine’s startup ecosystem. One of the most important questions asked was where to find quick funding for startups; businesses that are either pre-revenue or very early in their growth.

Here are some of the potential sources:

Maine Technology Institute: MTI offers Business Innovation Funding for 3 tiers, depending on the startup’s stage of growth (Early Stage, Growth Stage, and Approaching Commercialization). Early stage is pre-revenue or very early revenue, with a solo founder or small team and at least one advisor. Applicants can apply for up to $30,000. This is the stage usually appropriate for first-time applicants. Caveat: An applicant needs to be in one of MTI’s 7 target sectors: biotechnology, composites & advanced materials, environmental technologies, forest product & agriculture, information technology, marine technology & aquaculture, or precision manufacturing. More info available here.

Coastal Enterprises Inc. (CEI): CEI offers “wicked fast loans” of up to $15,000 for start-up businesses and up to $30,000 for existing businesses, with terms of up to 5 years. Applicants must have a business advisor. Interest rates and other terms and requirements are available here.

Note: CEI offers a wide variety of other loans as well.

MaineStream Finance: MaineStream Finance, a subsidiary of Penquis in Bangor, offers loans to small businesses in Maine who may have trouble finding credit. Startups may be especially interested in its Business Express Loans for up to $5,000. These require less documentation and offer a faster loan decision. More information and the application form can be found here.

Finance Authority of Maine (FAME) hosts a Maine Funding Network. By filling out an online form, a business can be matched with myriad funding resources for Maine businesses. The network includes more than 20 public, non-profit, and regional economic development organizations across Maine, including the Eastern Maine Development Corporation in Bangor. The organizations range from state agencies to lenders such as CEI to venture capital funds and business advisor agencies. More info available here.