Regional Economic Development Revolving Loan Program for Day Care

Quality Maine day care centers can use this loan to start up or make improvements.

Eligibility

Must be a licensed child care provider (or meet licensing standards) and utilize recognized quality indicators for child care services as approved by the Maine Department of Health and Human Services.

Loan Amount/Exposure

Up to $350,000 (If a portion of the project is for lead abatement, that portion may not exceed $15,000.)

Interest Rate

3%

Loan Term

Up to 20 years.

Security

Assets being financed and additional collateral, as required.

Fees

1% commitment fee, plus all costs of closing.

Process

Submit completed applications to FAME for review and final decision.

Application

Application Downloads

The documents above can be viewed using Adobe Acrobat. You may download a free copy of Adobe Acrobat Reader by clicking here.

The applications are in a PDF format, which can be completed on-line and must be printed and sent to FAME.

Contact

FAME