Governor's Energy Initiatives |
FAME's Energy Programs |
In view of rising energy costs and a looming Maine winter, FAME has made available additional, low-cost energy funds for Maine businesses. FAME has set aside $1 million for Energy Conservation Loans to provide additional funding for businesses to improve energy efficiency; reduced the interest rate on all new Economic Recovery Loans and set aside additional funds within this program for energy savings purposes; and partnered with Maine banks to provide low-cost Energy Audit Equipment Loans for graduates of MaineHousing’s energy auditor and weatherization technician classes.
To learn more about each of these programs, click on the below links for fact sheets or contact FAME at (800) 228-3734 or e-mail info@famemaine.com.
Energy Conservation Loan Program
FAME has set aside $1 million for low-interest Energy Conservation Loans to help Maine businesses improve workplace energy efficiencies. Provided by FAME and the Maine Public Utilities Commission, FAME now may fund 90% of a total project up to $250,000 at a 3% interest rate. All applications for this program must be received by FAME by March 31, 2009.
Economic Recovery Loan Program
The loans in this set-aside under the Economic Recovery Loan Program provide subordinate (gap) financing to assist businesses in their efforts to save on energy costs to remain viable and/or improve productivity. Through March 31, 2009, the interest rate on all new Economic Recovery Loan Program loans will be reduced from Prime + 2% to Prime. All applications for this set-aside must be received by FAME by March 31, 2009.
Energy Audit Equipment Loans
Energy Audit Equipment Loans are available for graduates of MaineHousing’s energy auditor and weatherization technician classes, who will need to purchase equipment (infrared cameras and blower doors) in order to complete future energy audits. Low-interest loans up to $15,000 will help energy audit businesses get up and running. The rates, terms, and specific underwriting criteria are determined by each participating bank, however.
