USDA Feasibility Study Consultant in Maine
Independent USDA feasibility study consultant for Business & Industry, SPUR, REAP, Timber Production Expansion and Community Facilities projects across Maine, prepared to 7 CFR Part 5001 standards for lenders and for review by USDA Rural Development's Maine state office in Bangor.
Data as of October 2026.
On this page
When a Maine Project Needs a USDA Feasibility Study
Under the OneRD guaranteed loan rule, an independent feasibility study is mandatory for Business & Industry guarantees above $1,000,000 to a new business. Section 5001.306(a)(3)(i) requires a study "prepared by an independent qualified consultant acceptable to the Agency," with its scope set by the Agency according to the complexity of the project and the borrower.
For loans of $1,000,000 or less, and for existing businesses, the study is discretionary. USDA may require one when the lender's analysis does not establish technical feasibility or economic viability, or when the project will significantly affect an existing borrower's operations and historic cash flow (§5001.306(a)(3)(ii)). Across OneRD programs, §5001.303(c)(4) allows the Agency to require an independent study whenever it cannot determine a basis for repayment from the five feasibility components: economic, market, technical, financial and management feasibility.
Community Facilities runs on a parallel standard. Every CF guarantee requires a financial feasibility report "prepared by a qualified firm or individual acceptable to the Agency," and an independent study is required above $1,000,000 to a new entity or an entity conducting a new activity (§5001.304). Projections for assisted living, skilled nursing and similar residential facilities must be based on no more than 90 percent occupancy.
| Situation | Study status | Rule |
|---|---|---|
| B&I guarantee above $1M to a new business | Required | 7 CFR 5001.306(a)(3)(i) |
| B&I guarantee of $1M or less, or an existing business | At Agency discretion | 7 CFR 5001.306(a)(3)(ii) |
| Any OneRD program where the basis for repayment is unclear | At Agency discretion | 7 CFR 5001.303(c)(4) |
| Community Facilities guarantee, any size | Financial feasibility report required | 7 CFR 5001.304 |
| Community Facilities guarantee above $1M to a new entity or new activity | Independent feasibility study required | 7 CFR 5001.304(a)(4)(i) |
In Maine, studies are reviewed by USDA Rural Development's state office in Bangor as part of the Conditional Commitment process.
What USDA Means by an Independent Feasibility Study Consultant
Part 5001 defines the role directly. A qualified consultant is "an independent third-party person possessing the knowledge, expertise, and experience to perform the specific task required," and a feasibility study is a report "conducted by an independent qualified consultant(s) evaluating the economic, market, technical, financial, and management feasibility of the proposed project" (7 CFR 5001.3). For B&I guarantees, the consultant must also be "acceptable to the Agency" (§5001.306(a)(3)(i)). In practice, that sets three tests for a Maine project:
Independence
No ownership or financial interest in the borrower, the project or the loan.
Qualification
Demonstrated experience with the asset class, with Maine's seasonality, Canadian-trade and resource-supply conditions, and with USDA Rural Development review.
Acceptability
The Agency, not the borrower, decides whether the consultant and the study scope are sufficient. Engaging the consultant before the lender submits the application avoids scope rework during Conditional Commitment review.
For Community Facilities financial feasibility studies issued with an examination opinion, §5001.304(b) requires preparation under AICPA attestation standards and professional liability insurance. USDA does not publish a list of approved feasibility study consultants. The Maine state office assesses acceptability application by application.
Maine Is Almost Entirely Eligible but Underuses B&I
Maine does not appear among the ten largest B&I states for 2015–2024 in the national assessment commissioned by the National Rural Lenders Association. USDA's own FY2023 Maine program table totals $36,797,502 in business program obligations with no B&I line: REAP loans ($15,919,000) and intermediary programs carried the volume.
Named Maine guaranteed loans since 2015:
- Vertical Harvest's hydroponic farm in Westbrook: a $25,000,000 B&I guarantee paired with a $23,795,000 REAP guaranteed loan.
- Maine Plywood USA in Bingham: $11,900,000 under the new Timber Production Expansion program.
- A Bowdoin solar array: a $7,385,000 REAP guaranteed loan.
Two of the three largest deals were led by out-of-state lenders. With nearly the whole state eligible and little B&I activity, Maine is open ground for a lender with a documented feasibility process.
Where B&I Financing Can Go in Maine
B&I eligibility excludes any city or town above 50,000 population, measured by the latest decennial census, together with the urbanized area contiguous and adjacent to it (7 CFR 5001.3). Portland, at 68,408 in 2020, is Maine's only city above 50,000. Between 85.0 and 95.0 percent of Mainers live in B&I-eligible areas (calculated). The range depends on how much of the 205,356-person Portland urban area is excluded.
| City | 2020 population | Above 50,000? |
|---|---|---|
| Portland | 68,408 | Yes |
| Lewiston | 37,121 | No |
| Bangor | 31,753 | No |
| South Portland | 26,498 | No (inside the Portland urban area) |
| Auburn | 24,061 | No |
Source: U.S. Census Bureau (2020 Census).
Lewiston–Auburn, Bangor and the Portland Ring
Neither the Lewiston–Auburn nor the Bangor urbanized area contains a city above 50,000, so both screen as eligible. The Portland ring needs a map check rather than a rule of thumb: USDA guaranteed a B&I loan for a project in Westbrook in 2024. Kittery and Eliot depend on whether they fall in the Portsmouth, New Hampshire urban area and whether any city in it exceeds 50,000.
Eligibility Screen for Buyer-Intent Markets
These are desk screens under the 5001.3 rule, not USDA map determinations. Every study confirms the address.
| Screen | Places |
|---|---|
| Eligible | York, Ogunquit, Wells, Kennebunk, Kennebunkport, Brunswick, Bath, Boothbay Harbor, Damariscotta, Rockland, Camden, Belfast, Bucksport, Ellsworth, Bar Harbor, Southwest Harbor, Machias, Jonesport, Eastport, Lubec, Lewiston, Auburn, Augusta, Waterville, Skowhegan, Farmington, Rangeley, Bethel, Carrabassett Valley, Greenville, Millinocket, Dover-Foxcroft, Bangor, Brewer, Old Town, Orono, Houlton, Presque Isle, Caribou, Fort Kent, Madawaska |
| Verify on the map | Kittery, Old Orchard Beach, Saco, Biddeford, Freeport, Westbrook, South Portland and the inner Portland ring |
| Ineligible | Portland |
Maine Tourism: Record Spending, Fewer Visitors, Lost Canadians
Maine's visitor economy is shifting from volume to rate, and hotel studies must prove rate.
- Statewide: Maine drew 14.15 million visitors in 2025, 650,000 fewer than in 2024, but they spent a record $9.37 billion, for $16.56 billion in total economic impact.
- Acadia: The park set a record of 4,079,318 visits in 2025. October visitation is up 165 percent since 1990.
- Canadian decline: July border crossings into Maine fell from 383,000 in 2024 to 275,000 in 2025, and crossings were still down 17 percent in early 2026. That decline was about twice the national northern-border drop.
- Bar Harbor cruise cap: The town's daily passenger cap is enforceable in July and August under a May 2026 ruling. Its 2026 schedule lists just under 50,000 possible passengers, against about 250,000 in 2019.
Every Maine hospitality study we prepare models rate-driven performance with flat or falling visitor counts, month-by-month cash flow through winter, and a 25–30 percent Canadian-demand sensitivity for border and Downeast properties.
Source: Maine Office of Tourism; National Park Service; U.S. Customs and Border Protection; Town of Bar Harbor.
Lobster, Aquaculture and the Processing Gap
Maine's seafood value remains high, but volume is falling and processing depends on Canada.
| Year | Pounds | Value | Average price |
|---|---|---|---|
| 2021 | 110.7 million | $724,949,426 | $6.71 |
| 2023 | 96.9 million | $464,371,720 | $4.95 |
| 2024 | 86.1 million | $528,421,645 | $6.14 |
| 2025 | 78.8 million | $461,384,405 | $5.85 |
Source: Maine Department of Marine Resources (2025 preliminary; 2021 and 2023 pounds revised).
- Maine typically ships more than half its landings to Canadian processors in peak season. One Maine processor estimates the state would need 10 to 15 more facilities its size to process that volume at home.
- Farmed oysters were worth $14,852,101 in 2024, Maine's third most valuable fishery.
- The flagship land-based salmon projects have stalled. Nordic Aquafarms abandoned Belfast in January 2025. Whole Oceans cut its Bucksport plan to 3,000 metric tons, 15 percent of the original. Kingfish Maine is not proceeding in Jonesport until conditions improve.
A domestic processing plant that replaces Canadian capacity is the clearest seafood fit for USDA guarantees. Studies must be built on 2025 landings, not the 2021 peak.
For species-specific inspection and financing requirements, see the SPUR meat, poultry and seafood borrower’s guide.
Forest Products: Pulp Is Shrinking, Sawlogs Are Growing
- Maine harvested 10.0 million green tons of wood in 2023, down 26 percent from 2011, and pulpwood processing fell 14 percent in a year.
- Sawlog processing reached 883 million board feet, up 48 percent from 2009.
- The forest grows 1.66 times what is harvested, so supply is not the constraint. Markets are, especially outlets for chips and other low-grade residuals after pulp and biomass closures. The Androscoggin Mill in Jay closed in 2023 with about 230 jobs lost, and four of Maine's six biomass plants closed between 2018 and 2020.
- USDA's Timber Production Expansion program is now a proven Maine route for forest-products deals: $11,900,000 for Maine Plywood's conversion of a Bingham sawmill to plywood underlayment, with 95 expected jobs.
Source: Maine Forest Service; USDA RD; Boston Globe.
2026–2027 Program Terms Monitor
As of late October 2026, USDA has not published a FY2027 OneRD guarantee fee notice; the FY2026 notice appeared five months into its fiscal year. A continuing resolution (P.L. 119-103) funds USDA at FY2026 levels through December 11, 2026. The President's FY2027 budget proposes terminating B&I, while the House-passed bill raises B&I loan authority to $2.0 billion. B&I credits are underwritten on the current schedule: an 85 percent guarantee under $5 million and 80 percent at $5 million or more, a 3 percent upfront fee and a 0.55 percent annual retention fee. Community Facilities guaranteed loans carry an 80 percent guarantee and a 1.25 percent fee, up to $100 million.
| Program | Guarantee | Upfront fee | Retention fee | Notes |
|---|---|---|---|---|
| B&I, under $5M | 85% | 3.0% | 0.55% | Maximum $25M per borrower |
| B&I, $5M to $25M | 80% | 3.0% | 0.55% | — |
| B&I, reduced-fee tier | 80% | 1.0% | 0.50% | Subject to annual cap |
| SPUR (meat, poultry, seafood processing) | 90% | 3.0% | 0.55% | Lender holds at least 10%; no rural-area restriction |
| Pre-completion loan note guarantee | — | +0.50% | — | All programs |
SPUR for Maine Seafood Processors
Federal Register Doc. 2026-21858, published October 27, 2026, makes at least $5 billion in loan level available for facilities that establish, reopen, retrofit, expand or improve meat, poultry or seafood processing "in America's rural or urban areas, as there are no geographic restrictions." The guarantee is 90 percent, at a 3 percent fee and 0.55 percent retention, with the lender holding at least 10 percent. USDA announced a maximum of $175 million per borrower. SPUR covers seafood processing, but whether its definition explicitly includes lobster processing and aquaculture should be confirmed against the full notice before a study relies on it.
REAP After the October 2026 Rule
Under USDA's revised REAP rule (91 FR 62600), effective October 16, 2026, REAP becomes a post-completion, performance-validated program. Applicants submit 12 months of actual production or savings data with 12 months of pre-installation data, through a single national competition. Grants are capped at 25 percent of project cost, with maximums of $500,000 for renewable energy systems and $250,000 for efficiency improvements. A REAP guaranteed loan may still be paired with the grant. The rule requires cost sharing for at least 75 percent of project cost, and combined REAP grant and guaranteed-loan funding cannot exceed 75 percent. The same rule makes any applicant that derives income from gambling ineligible for REAP.
Capital Stacking in Maine
Northern Border Regional Commission
Thirteen of Maine's 16 counties are in the Commission's service area, and none is in attainment status.
| Designation (match) | Counties |
|---|---|
| Distressed (20%) | Androscoggin, Aroostook, Franklin, Oxford, Penobscot, Piscataquis, Somerset, Waldo, Washington |
| Transitional (50%) | Hancock, Kennebec, Knox, Lincoln |
| Not in NBRC region | Cumberland, Sagadahoc, York |
Source: Northern Border Regional Commission, 2026 Annual Economic & Demographic Research.
FAME Commercial Loan Insurance
The Finance Authority of Maine insures commercial loans and is the state's closest substitute for a USDA guarantee on smaller deals.
- Traditional pro-rata term loans: insured up to 90 percent, with a $7,500,000 cap on total exposure to one relationship.
- Online platform: 75 percent on loans up to $1,500,000.
- FAME excludes gambling businesses.
- FAME also channeled $2 million of ARPA funds into the Vertical Harvest stack, alongside an $8,655,189 C-PACE loan.
Other Maine Sources
CEI offers Sea Farm Loans of up to $150,000 for shellfish and sea-vegetable aquaculture. C-PACE financing is available through the Efficiency Maine Green Bank.
Reduced-Fee Eligibility (7 CFR 5001.454(d))
A lender may request the reduced fee when the project meets any one of these criteria, subject to USDA's annual cap on reduced-fee authority:
- It is located in a rural community that is distressed under the Economic Innovation Group index, has experienced long-term population decline across three decennial censuses, is in a persistent poverty county, is in a presidentially declared disaster area declared within the prior 24 months, has unemployment at or above 125 percent of the national rate, or is on tribal lands.
- It processes, distributes, aggregates, stores or markets locally or regionally produced agricultural food products and promotes access to healthy foods.
- It is locally owned and managed, and either supports value-added agriculture or produces a natural-resource value-added product.
- It is part of a multi-jurisdictional strategic plan under Section 6401 of the 2018 Farm Bill.
- It provides an additional market for existing local businesses.
Tribal Lands and Gaming Screens
- Tribal lands: The Maine Indian Claims Settlement Act and the Maine Implementing Act generally subject the Penobscot Nation, the Passamaquoddy Tribe and the Houlton Band of Maliseet Indians to state law, with exceptions for internal tribal matters. The Aroostook Band of Micmacs is covered by a separate 1991 act. This framework affects collateral, lien enforcement and jurisdiction clauses. Whether these lands qualify as tribal lands for the B&I reduced fee should be confirmed with the state office in writing.
- Gaming: Maine has casinos in Bangor and Oxford. Mobile sports wagering, authorized in 2022 and launched November 3, 2023, is exclusive to the four Wabanaki tribes.
- Gambling-revenue screen: Under 7 CFR 5001.127(b), a B&I borrower may derive no more than 15 percent of gross revenue from gambling, including lease income from space or machines. Any gambling income bars a REAP grant.
Maine USDA Feasibility Study Consultant by Project Type
Each card states the market evidence a Maine study must document and the tests a USDA reviewer will apply. The first three cards are open by default.
Hotel, Inn and Resort Feasibility Study Consultant in Maine (USDA B&I)
Maine's coastal lodging demand is at record spending, but studies must prove rate, winter cash flow and Canadian exposure.
- Accommodation spending in the Maine Beaches region rose 6.5 percent to $704.0 million in 2025, while day visitors fell 13.1 percent.Maine Office of Tourism
- Maine's 9 percent lodging tax produced $170,963,722, about $1.9 billion in taxable lodging sales (calculated).Maine Revenue Services
What the reviewer will test
A rate-driven ADR and occupancy forecast; month-by-month cash flow covering winter debt service; Canadian-share sensitivity; and staff housing.
Seafood Processing Feasibility Study Consultant in Maine
Maine ships much of its lobster to Canada for processing, and domestic capacity is the gap.
- Stonington was Maine's top port by value in 2025 at $49.02 million, and Jonesport landed 11.27 million pounds in 2024.Maine DMR
- Maine's commercial fisheries earned $619,053,489 in 2025, the 14th straight year above $500 million.Maine DMR
What the reviewer will test
Supply contracts sized to 2025 landings; price sensitivity with China at zero and Canadian tariff exposure; utilization outside the July–November season; and SPUR fit.
Aquaculture Feasibility Study Consultant in Maine
- Farmed oysters were worth $14,852,101 in 2024; the Damariscotta River is the sector's center.Maine DMR
- Three land-based salmon and yellowtail projects that once promised more than $850 million of investment have been abandoned, scaled back or stalled.Maine Monitor; company statements
What the reviewer will test
Lease and permit status; litigation history; growth and mortality assumptions; and offtake.
Sawmill and Wood Products Feasibility Study Consultant in Maine
- USDA guaranteed $11,900,000 under its Timber Production Expansion program for Maine Plywood USA in Bingham.USDA RD, 2026
- Maine sawmills processed 883 million board feet in 2023, up 48 percent from 2009.Maine Forest Service
What the reviewer will test
Wood supply and price within haul distance; offtake or market evidence; a residuals outlet for chips and bark; and power cost.
Food Processing and Controlled-Environment Agriculture Feasibility Study Consultant in Maine
- Vertical Harvest's Westbrook farm combined a $25,000,000 B&I guarantee, a $23,795,000 REAP loan, an $8,655,189 C-PACE loan and $2 million of ARPA funds through FAME.Portland Press Herald; company release
- McCain agreed in 2025 to buy the Washburn potato plant, consolidating nearly all Aroostook processing under one buyer. Taste of Maine is building a $55 million chip plant at Loring.Company announcements
- The wild blueberry crop fell to 54.6 million pounds in 2025.Wild Blueberry Commission of Maine
What the reviewer will test
Raw-product supply under a drought year; buyer concentration; cold chain and energy cost; and a layered capital stack with each source documented.
Rural Hospital and Clinic Feasibility Study Consultant in Maine
Maine rural hospitals are cutting services, and the state's Rural Health Transformation award is time-limited.
- Maine received $190,008,051 in FY2026 Rural Health Transformation funding, including $30 million for the financial stability of 11 rural hospitals.CMS; Maine DHHS
- About 10 birthing units have closed or been approved to close since 2020, from Fort Kent and Houlton to Belfast and Damariscotta.Hospital announcements; CHQPR
- USDA Community Facilities loans have financed Down East Community Hospital in Machias ($4,000,000) and Independence Advocates of Maine in Orono ($4,985,000).USDA RD
What the reviewer will test
Payer mix with MaineCare sensitivity; a staffing plan; grant funds kept out of debt service; and Community Facilities scoring.
Assisted Living Feasibility Study Consultant in Maine
- Community Facilities projections for assisted living must be based on no more than 90 percent occupancy.7 CFR 5001.304
What the reviewer will test
Penetration among residents aged 75+ by county; MaineCare rates; the licensing pathway with DHHS; and staffing in an aging labor market.
Childcare Center Feasibility Study Consultant in Maine
- Maine pays early childhood educators salary supplements of $240 to $540 a month, reaching 92 percent of licensed programs at a cost of more than $30 million a year. A proposed 2025 cut was removed by the legislature.Maine DHHS
What the reviewer will test
Pro formas with and without the supplement; subsidy share; the local capacity gap; and employer partnerships.
Solar and REAP Feasibility Study Consultant in Maine
- USDA guaranteed a $7,385,000 REAP loan for a 5.415 MWdc ground-mount solar array in Bowdoin through Crestmark. Gerrity Company received an $867,763 REAP grant for 578.2 kW of solar at its Leeds pallet plant.USDA RD
- Under the revised REAP rule, grants cover at most 25 percent of project cost and are paid after 12 months of operation.91 FR 62600
What the reviewer will test
Economics under Maine's net energy billing terms; a no-grant base case; and bridge financing.
Gas Station, Truck Stop and EV Charging Feasibility Study Consultant in Maine
- Maine expects about $19.3 million in NEVI formula funds. Its first NEVI station opened in Rockland with $473,591 in support.Joint Office; MaineDOT
What the reviewer will test
Site traffic counts; Canadian traffic decline at border ports; winter volume; and EV charging modeled without future grants.
RV Park and Campground Feasibility Study Consultant in Maine
What the reviewer will test
Short-season occupancy; competing park campgrounds near Acadia; and month-by-month cash flow.
Workforce Housing Feasibility Study Consultant in Maine
Coastal employers cannot house staff where wages lag real-estate prices, and short-term rentals compete for the same units.
What the reviewer will test
Employer letters or master leases; rents against local wages; year-round occupancy; and B&I limits on residential uses.
Additional Maine project types
- Cold storage and refrigerated warehousing
- Distinguish lobster and seafood refrigeration, Aroostook potato storage and wild-blueberry freezing. Document seasonal throughput, first-mile handling, customer commitments, product-specific storage requirements, backup power and utilization outside the harvest or landing peak.
- Marinas and working waterfronts
- Separate recreational slip demand in Casco Bay and Penobscot Bay from commercial waterfront uses and island access. Test seasonal occupancy, winter storage, waterfront permitting and storm-related operating exposure.
- Marine and resource-economy manufacturing
- Boatbuilding, marine trades, forest-products machinery and food-processing equipment require customer-concentration, order-backlog, skilled-labor and equipment-utilization tests.
- Breweries, cideries, wineries and distilleries
- For blueberry- and apple-based beverages as well as beer and spirits, distinguish wholesale production economics from tasting-room sales and seasonal visitor revenue.
- Restaurants, wedding venues and agritourism
- Separate local year-round customers from seasonal visitors; document event bookings, operating months, labor availability and the cash reserve needed through winter.
- Meat processing
- Test livestock supply, inspection status, throughput, wastewater capacity and offtake. State or CIS inspection affects the market a Maine plant can serve; SPUR adds an inspection-certificate condition before its guarantee can issue.
- Self-storage
- Use the local competitive inventory, household and business demand, achievable rents, lease-up and winter access rather than statewide visitor totals.
- Car washes
- Document site traffic, winter salt-related demand, water and wastewater approvals, equipment reliability and seasonal operating costs.
For a Maine Community Facilities example, see the Maine childcare feasibility case study; related guidance covers childcare studies and rural healthcare studies.
Maine USDA Precedent File
| Program | Recipient | Location | Year | Amount | Purpose |
|---|---|---|---|---|---|
| B&I | Vertical Harvest Farms | Westbrook | 2024 | $25,000,000 | Hydroponic vertical farm |
| REAP guaranteed loan | Vertical Harvest Farms | Westbrook | 2024 | $23,795,000 | Same project |
| Timber Production Expansion | Maine Plywood USA, LLC | Bingham | 2026 | $11,900,000 | Plywood underlayment conversion |
| Meat and Poultry Intermediary Lending | Coastal Enterprises, Inc. | Brunswick | 2023 | $8,000,000 | Regional relending fund |
| REAP guaranteed loan | Augusta Road Bowdoin Solar LLC | Bowdoin | 2021 | $7,385,000 | 5.415 MWdc solar |
| CF grant | Wabanaki Public Health & Wellness | Millinocket | 2022 | $5,012,000 | Center for Wabanaki Health and Recovery |
| CF loan | Independence Advocates of Maine | Orono | 2015 | $4,985,000 | Operations |
| CF loan | Down East Community Hospital | Machias | 2015 | $4,000,000 | Operations |
| CF grant | MaineGeneral Community Care | Kennebec County | 2022 | $1,000,000 | Pandemic revenue recovery |
| REAP grant | Gerrity Company Inc. | Leeds | 2024 | $867,763 | 578.2 kW solar |
| VAPG | Herbal Revolution Farm & Apothecary | Union | 2023 | $250,000 | Herbal products |
| VAPG | Balfour Farm | Pittsfield | 2023 | $249,917 | Sausages and cured meats |
Source: USDA Rural Development releases; congressional releases; Portland Press Herald (2015–2026).
USDA Rural Development in Maine
USDA Rural Development's Maine State Office is at 967 Illinois Avenue, Suite 4, Bangor, ME 04401 ((207) 990-9160). John Butera is State Director. Area offices operate in Presque Isle, Bangor, Lewiston and Scarborough. Since September 8, 2026, Rural Development staff also work one day a month at USDA Service Centers across rural Maine.
Lender Landscape
In May 2026, USDA revoked or declined to renew OneRD approved-lender status for ten lenders holding about 47 percent of Rural Development's delinquent loans; revoked lenders cannot obtain new guarantees. Every Maine study we prepare records the originating lender's OneRD standing as of the study date. Maine's largest recent USDA business guarantees were led by out-of-state lenders, while several Maine banks offer USDA programs without public B&I deals on record, consistent with the national assessment's warning about a shrinking lender base.
How Our Maine USDA Feasibility Study Consultants Scope a Study
Six scoping steps tailor the Part 5001 study to Maine's seasonality, Canadian-trade and resource-supply conditions.
Address-level eligibility
For the Portland ring and border towns.
Rate-driven hospitality forecasts
With winter cash flow and Canadian sensitivity.
Resource supply
Seafood and forest-products supply sized to current landings and harvests.
Stacking
NBRC grants, FAME insurance, C-PACE and state sources.
Program fit
B&I vs. SPUR, Timber Production Expansion, Community Facilities, and REAP under the new rule.
Lender standing
Lender OneRD standing and Maine precedent.
Related Case Studies
Lake Texoma RV Resort Expansion: USDA B&I Feasibility Case Study
Great Lakes Marina with Lodging, Ludington, Michigan: USDA B&I Feasibility Case Study
Maine USDA Feasibility Study FAQ
Does USDA approve feasibility study consultants in Maine?
USDA does not maintain a public list of approved consultants. Part 5001 defines a qualified consultant as an independent third-party person with the knowledge, expertise and experience to perform the task, and for B&I the consultant must be acceptable to the Agency. The Maine state office makes that determination for each application.
Can the borrower, developer or lender prepare the feasibility study?
Not when USDA requires an independent study for B&I. The rule calls for an independent, qualified third party with no financial interest in the borrower, the project or the loan. For Community Facilities, a lender may prepare a financial feasibility analysis in some cases, but a CF guarantee above $1 million to a new entity or activity requires an independent qualified consultant.
How do I choose a USDA feasibility study consultant for a Maine project?
Look for independence, experience with your asset class, and command of Maine-specific evidence: Portland-ring eligibility, Canadian demand, seafood and wood supply, seasonality, NBRC and FAME stacking, and SPUR for processors. The study should address all five Part 5001 components (economic, market, technical, financial and management feasibility) in the form the state office reviews.
Does USDA require a feasibility study for a B&I loan in Maine?
Yes, for B&I guarantees above $1,000,000 to a new business. For smaller loans and existing businesses, USDA may require one when the lender's analysis does not establish technical feasibility or economic viability, or when the project significantly affects an existing borrower's operations.
Are Lewiston and Bangor eligible for B&I?
Yes. Lewiston had 37,121 residents and Bangor 31,753 in 2020, and neither urbanized area contains a city above 50,000. Portland is Maine's only city above the threshold.
Are Portland's suburbs eligible?
Some may be. South Portland, Westbrook and the inner ring sit in the Portland urban area, but USDA guaranteed a B&I loan for a project in Westbrook in 2024, so each address needs a USDA map determination rather than an assumption.
Can a Maine lobster processor use SPUR?
SPUR guarantees 90 percent of loans for meat, poultry and seafood processing with no geographic restriction. Its definition of seafood processing should be confirmed for lobster before a study relies on it.
Should a project use FAME insurance or a USDA guarantee?
FAME insures up to 90 percent of traditional term loans, with a $7,500,000 relationship cap, and suits smaller deals. Larger projects generally need a USDA guarantee. The two serve different deal sizes.
How does the drop in Canadian visitors affect a hotel study?
July 2025 border crossings into Maine were down 28 percent, about twice the national northern-border decline. Studies for border and Downeast properties should include a 25–30 percent Canadian-demand sensitivity.
Is B&I funded in FY2027?
A continuing resolution funds USDA at FY2026 levels through December 11, 2026. The President's budget proposes ending B&I, while the House-passed bill raises loan authority to $2.0 billion.
How long does a USDA feasibility study take in Maine?
Preparation typically runs several weeks depending on data availability and site complexity, and the completed study then enters the lender's underwriting package for USDA review during the Conditional Commitment process. USDA Rural Development staffing reductions in 2025 have extended agency processing timelines, so commissioning the study early protects the overall closing schedule.
What does 7 CFR Part 5001 require the study to contain?
The regulation requires an independent analysis covering economic, market, technical, financial, and management feasibility. In practice that means market demand and competitive supply analysis, site and technical assessment, five-to-ten-year financial projections with debt service coverage and sensitivity testing, and an evaluation of the management team, prepared by a qualified consultant with no financial interest in the project.
Related Analysis and Guides
How 7 CFR Part 5001 decides your file
Every USDA guaranteed loan passes through nine regulatory gates, and the feasibility study decides most of them. Our full framework sets out each gate, the current fiscal year fees and guarantee levels, and what the Agency looks for in the report.
Read the USDA Feasibility Study FrameworkFlagship research · 2026 editionUSDA Rural Capital Atlas 38 asset classes, program comparisons, capital stacks, lender performance and credit forensics.
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Sources and Methodology
Figures on this page come from federal registers, USDA Rural Development releases, state agencies, and industry data services as cited in each section. Calculated figures are marked. Statistics are restated exactly as published by the source; no figure is rounded, estimated or extrapolated.
Full source list (15 references)
- 7 CFR Part 5001
- SPUR notice, FR Doc. 2026-21858
- REAP final rule
- CRS R49343
- Summit/NRLA Economic Assessment 2025
- USDA RD Maine program overview (FY2023), releases and TPEP project list (2015–2026)
- U.S. Census Bureau, 2020 Census and urban areas
- Maine Office of Tourism, 2025 Visitor Tracking; National Park Service visitation statistics
- U.S. Customs and Border Protection crossing data (via Central Maine, Press Herald, Maine Public)
- Maine Department of Marine Resources landings data (2021–2025)
- Maine Forest Service, Wood Processor Report and State of the Forest review
- Northern Border Regional Commission, 2026 Annual Economic & Demographic Research
- Finance Authority of Maine, Commercial Loan Insurance terms
- CMS and Maine DHHS, Rural Health Transformation award; Maine DHHS Office of Child and Family Services
- Portland Press Herald (April 24, 2024); Mainebiz; Maine Monitor