This program is designed to make loans through Regional Economic Development Agencies for the purpose of creating or retaining jobs. FAME makes disbursements to Regional Economic Development Agencies and they make loans to eligible borrowers.
Eligibility
Businesses that have sales under $5,000,000 or employ 50 or fewer employees, conducting business in the following categories:
- Advanced manufacturing technologies.
- Advanced information systems.
- Advanced biological/natural resource technologies.
- Conversion from defense industry.
- Significant export involvement (goods or services).
- Significant research and development.
- Micro-businesses (under 5 employees).
- Quality childcare projects (also administered directly by FAME).
Loan Amount / Exposure
1/3 of total project cost, up to a maximum loan amount of $200,000; 1/2 of total project cost, up to a maximum loan amount of $50,000.
Interest Rate
Negotiated with regional lender, usually below market.
Loan Term
Up to 20 years depending on assets being financed.
Security
Assets being financed and other collateral, as required.
Fees
Set by each agency.
Contact
207- 623-3263
1-800-228-3734
FAX: 207-623-0095
TTY: 207-626-2717
Process
Funding is provided through the following Regional Economic Development Agencies:
Participating Agencies
125 Manley Road
Auburn, ME 04210
783-9186
www.avcog.org
73 Harlow Street
Bangor, ME 04401
947-4842
www.bangormaine.gov
190 Main Street, 3rd Floor
Saco, ME 04072
282-1748
www.bsaedc.org
24 Sweden Street, Suite 101
Caribou, ME 04736
493-4233
www.cariboumaine.net
389 Congress Street
Portland, ME 04101
874-8683
www.portlandmaine.gov
12 Second Street
Presque Isle, ME 04769-2459
764-2503
www.presqueisle.govoffice2.com
36 Water Street
P.O. Box 268
Wiscasset, ME 04578-0268
882-7552
www.ceimaine.org
P.O. Box 278
South Paris, ME 04281
743-1520
www.community-concepts.org
40 Harlow St.
Bangor, ME 04401
942-6389
www.emdc.org
68 Marginal Way
Portland, ME 04101
774-9891
www.gpcog.org
c/o Eastern Maine Development Corp.
P.O. Box 2579
Bangor, ME 04402-2579
942-6389
www.emdc.org
17 Main Street
Fairfield, ME 04937
453-4258
www.kvcog.org
P.O. Box 1188
Lewiston, ME 04243
784-0161
www.economicgrowth.org
93 Main Street
Limestone, ME 04750
325-4025
www.limestonemaine.org
7 Park Street
Bath, ME 04530
443-5790
www.mcbdp.org
11 West Presque Isle Road
P.O. Box 779
Caribou, ME 04736
498-8736
www.nmdc.org
2 Maple Street
P.O. Box 280
Milbridge, ME 04658
546-7544
www.whcacap.org
262 Harlow Street
P.O. Box 1162
Bangor, ME 04402-1162
973-3500
www.penquiscap.org
60 Lowell Street
Rumford, ME 04276
369-0396
www.rvgc.org
c/o Northern Maine Development Commission
11 West Presque Isle Road
P.O. Box 779
Caribou, ME 04736
498-8736
www.nmdc.org
416 West Main Street
Fort Kent, ME 04743
834-3507
www.fortkent.org
300 Lisbon Street
Lisbon, ME 04252
353-3000
www.lisbonme.org
40 School Street
Lubec, ME 04652
733-2341
369 Main Street
P.O. Box 152
Norway, ME 04260
743-8830
www.enterprisemaine.com