Regional Economic Development Revolving Loan Program

This program is designed to make loans through Maine's regional economic development agencies for the purpose of creating or retaining jobs. FAME makes disbursements to regional economic development agencies and the agencies in turn make loans to eligible borrowers.


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 10 employees).
  • Quality childcare projects (also administered directly by FAME).


Loan Amount / Exposure

  • 33% of total project cost, up to a maximum loan amount of $250,000;
  • 50% of total project cost, for projects between $50,000 and $100,000;
  • 100% of total project cost, for projects less than $50,000.


Interest Rate

Negotiated with regional agency, usually below market.


Loan Term

Up to 20 years depending on assets being financed.



Assets being financed and other collateral, as required.



Set by each agency.



Funding is provided through the the regional economic development agencies listed below. Please contact the agency covering your area for information and applications. The agency reviews, underwrites and notifies borrower of final loan determination.


207- 623-3263
FAX: 207-623-0095
TTY: 207-626-2717


Participating Agencies

Androscoggin Valley Council of Governments
125 Manley Road
Auburn, ME 04210

Bangor Airport Civic Development Corp.
73 Harlow Street
Bangor, ME 04401

Biddeford/Saco Area Economic Development Corp.
190 Main Street, 3rd Floor
Saco, ME 04072

Caribou Chamber of Commerce & Industry
c/o Northern Maine Development Commission
PO Box 779
Caribou, ME 04736

City of Portland
389 Congress Street
Portland, ME 04101

City of Presque Isle
12 Second Street
Presque Isle, ME 04769-2459

Coastal Enterprises, Inc.
36 Water Street
P.O. Box 268
Wiscasset, ME 04578-0268

Community Concepts Finance Corporation
c/o Community Concepts, Inc.
P.O. Box 278
South Paris, ME 04281

Eastern Maine Development Corporation
40 Harlow St.
Bangor, ME 04401

Greater Portland Council of Governments
68 Marginal Way
Portland, ME 04101

Katahdin Regional Development Corp.
c/o Eastern Maine Development Corp.
40 Harlow Street
Bangor, ME 04401

Kennebec Valley Council of Governments
17 Main Street
Fairfield, ME 04937

Lewiston/Auburn Economic Growth Council
415 Lisbon Street, Suite 400
P.O. Box 1188
Lewiston, ME 04243-1188

Midcoast Council of Governments 
752 High Street
Bath, ME 04530

Northern Maine Development Commission
11 West Presque Isle Road
P.O. Box 779
Caribou, ME 04736

Washington-Hancock Community Agency
P.O. Box 299
Ellsworth, ME  04605

Penquis Community Action Program
262 Harlow Street
P.O. Box 1162
Bangor, ME 04402-1162

River Valley Growth Council
60 Lowell Street
Rumford, ME 04276

Sunrise County Economic Council
53 Prescott Drive, Suite 3
Machias, ME 04654
255-0983 ext. 16

Town of Fort Kent
416 West Main Street
Fort Kent, ME 04743

Town of Lisbon
c/o Androscoggin Valley Council of Governments
125 Manley Road
Auburn, Maine  04210

Town of Lubec
40 School Street
Lubec, ME 04652
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News of Interest

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  • Tuesday, April 21, 2015 2:00 PM

    At its April 16, 2015 meeting, the Board of Directors of the Finance Authority of Maine (FAME) approved 90% loan insurance on a $3.5 million loan by Caisse Centrale Desjardins US Branch to Polycor New England, Inc. (“Polycor NE”) to help finance the purchase of a quarry and the construction of a curb manufacturing facility in North Jay, Maine. The quarry acquisition and curb manufacturing facility represent the company’s first investments in Maine and are expected to create twenty direct jobs in Western Maine.


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