Maine Municipal Bond Bank

What Maine Municipal Bond Bank does

The Maine Municipal Bond Bank is an independent state agency created in 1971 by the Maine State Legislature and administered by a board of commissioners appointed by the Governor. It serves as a municipal financing conduit for Maine's cities, towns, school systems, water and sewer districts, and other governmental entities, issuing highly rated tax-exempt bonds (AA+/stable from S&P, Aa1/stable from Moody's on the General Resolution Program) and managing revolving loan funds for infrastructure projects. The Bond Bank operates five core programs: the General Resolution Program for general municipal capital needs, the Clean Water State Revolving Fund (jointly administered with the Maine Department of Environmental Protection), the Drinking Water State Revolving Fund (jointly administered with the Maine Department of Health and Human Services), the School Revolving Renovation Program (jointly administered with the Maine Department of Education, offering 0% interest loans with partial forgiveness), and the GARVEE/TransCap transportation bond programs (in cooperation with the Maine Department of Transportation).

Revenue is generated through bond issuance fees, annual servicing fees (ranging from 1.5% to 5% of annual debt service depending on the program), and administrative fees charged to borrowers. Pricing varies by program — School Revolving offers 0% with forgiveness, SRF programs offer at or below-market rates with semi-annual billing, and General Resolution issuances are structured as multi-year contracts. The go-to-market is relationship-driven and relies on direct outreach to Maine governmental entities plus referrals from partner state agencies (DEP, DHHS, DOE, MaineDOT). The Bond Bank additionally facilitates access to PowerOptions programs for energy procurement and decarbonization services.

Name

Maine Municipal Bond Bank

Legal name

Maine Municipal Bond Bank

Website

https://mmbb.com

Company type

Private

Founded year

1971

Operating status

Operating

Headcount range

1–10 employees

Short description

The Maine Municipal Bond Bank is an independent Maine state agency that issues AA+/Aa1-rated tax-exempt bonds and administers revolving loan programs providing low-cost capital to the state's cities, towns, school systems, water/sewer districts, and transportation infrastructure projects.

Ownership category

akta.pro rank

Product category

Public Municipal Finance

NAICS

Nondepository Credit Intermediation (5222)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Municipal Bonds (FSACABAE)

akta.pro secondary industry

Municipal/Local Government Development Banks (FSABAKAI)

Keywords

• Municipal bond financing
• Tax-exempt bond issuance
• Infrastructure loan programs
• State revolving funds
• Public sector financing

Headquarters

HQ city

Augusta

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Others

Revenue model

1. Bond Issuance & Servicing: The Bond Bank generates revenue by issuing highly rated tax-exempt bonds to investors and providing low-cost loans to municipalities. Revenue comes from issuance costs, annual servicing fees (5% of annual debt service for DWSRF), and administrative fees charged to borrowers.
2. State Revolving Fund Administration: Administers Clean Water and Drinking Water State Revolving Funds in partnership with state agencies. Fees include DEP administrative fee (3.5% of annual debt service) and Bond Bank servicing fees (1.5% of annual debt service for CWSRF).

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

The Maine Municipal Bond Bank issues highly rated tax-exempt bonds to investors in capital markets and on-lends the proceeds at low or below-market rates to Maine's cities, towns, school systems, water and sewer districts, and other governmental entities for infrastructure projects. Its programs include the General Resolution Program, GARVEE and TransCap transportation programs, the Clean Water and Drinking Water State Revolving Funds, and the School Revolving Renovation Program, which together provide low-cost capital for schools, water/wastewater systems, and highway and bridge projects. The Bond Bank charges issuance costs, annual servicing fees, and administrative fees on these loans.

Product overview

Maine Municipal Bond Bank operates as a state financing agency offering multiple loan programs for Maine municipalities. The core offerings include the General Resolution Program for tax-exempt bond financing, the GARVEE and TransCap Programs for transportation infrastructure (highways and bridges), the Clean Water SRF and Drinking Water SRF Programs for water/wastewater infrastructure, and the School Revolving Renovation Program for school facility improvements. Additionally, the Bank facilitates access to PowerOptions programs for energy procurement and decarbonization services. The programs work together to provide Maine governmental entities with access to low-cost capital through the Bond Bank's strong credit ratings (AA+/Aa1).

Differentiator

Problem solved

Functional benefit

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• Maine Department of Transportation (MaineDOT)coreStrategic or Co-development PartnerThe Bond Bank works in cooperation with MaineDOT to issue GARVEE bonds (Grant Anticipation Revenue Vehicle bonds) and TransCap revenue bonds. Bond proceeds are used at MaineDOT's direction for transportation projects including highway construction/reconstruction and bridge projects statewide.
• Maine Department of Health and Human Services (DHHS)coreStrategic or Co-development PartnerJointly administers the Drinking Water State Revolving Fund (DWSRF) with DHHS serving as project manager. DHHS determines project eligibility, maintains the project priority list, and approves projects for financing.
• Maine Department of Environmental Protection (DEP)coreStrategic or Co-development PartnerJointly administers the Clean Water State Revolving Fund (CWSRF) with DEP serving as environmental and project manager. DEP determines project eligibility and approves projects for wastewater financing.
• Maine Department of EducationcoreStrategic or Co-development PartnerJointly administers the School Revolving Renovation Loan Fund (SRRF). The Bond Bank serves as administrator and financial manager while the Department of Education serves as project manager, determining project eligibility and ranking.
• PowerOptionsminorGTM or Marketing PartnerMaine PowerOptions programs transitioned to PowerOptions, a peer organization serving Massachusetts, Connecticut, Rhode Island, and now Maine. Maine PowerOptions members gained access to PowerOptions' full suite of programs including competitive energy procurement, solar, EV charging, and decarbonization planning.

Scale indicators4 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• Connecticut Green Bank: Connecticut's state green infrastructure bank issues bonds and provides financing for clean energy and municipal sustainability projects, paralleling MMBB's PowerOptions energy/decarbonization expansion and infrastructure-lending structure.
• Vermont Municipal Bond Bank: Vermont's state municipal bond bank is the most directly comparable peer — a similar independent state agency issuing tax-exempt bonds to provide below-market financing to Vermont municipalities, schools, and water/sewer districts, with overlapping statutory structure.
• New Hampshire Business Finance Authority: New Hampshire's state finance authority operates municipal bond and loan programs for governmental and nonprofit borrowers, with a similar relationship-driven model to MMBB and comparable program diversification.
• Rhode Island Infrastructure Bank: Rhode Island's state infrastructure bank issues bonds and administers SRF-style programs for water, wastewater, transportation, and municipal infrastructure — a near-identical state bond bank + SRF administrator hybrid model.
• MassDevelopment: Massachusetts's statewide finance and development authority issues bonds and provides financing programs for municipalities, schools, and infrastructure — closely mirroring MMBB's General Resolution and school-facility programs but at a larger scale.

Broad incumbents

• Pennsylvania Infrastructure Investment Authority (PENNVEST): PENNVEST provides low-cost financing for Pennsylvania's drinking water, wastewater, stormwater, and brownfield projects through bond proceeds and federal SRF capitalization — directly comparable to MMBB's CWSRF/DWSRF programs at larger scale.
• New York State Environmental Facilities Corporation: NYS EFC administers the Clean Water and Drinking Water SRFs and issues bonds for water quality infrastructure at much larger scale — comparable to MMBB's joint SRF administration and bond issuance role but in a much larger state.

Others

• Build America Mutual: A mutual bond insurer providing credit enhancement on municipal bond issuances — adjacent to MMBB's issuance function since it underpins investor confidence in municipal bond credit quality (a factor in MMBB's own AA+/Aa1 ratings).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/maine-municipal-bond-bank

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Maine Municipal Bond Bank