Regional Economic Development Revolving
Loan Program for Day Care
This program provides quality childcare projects with loans for physical site improvements.
Eligibility
Must be licensed childcare providers (or meet licensing standards) and utilize recognized quality indicators for childcare services as approved by the Maine Department of Health and Human Services.
Loan Amount / Exposure
Up to $100,000 (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.
Application
Submit completed applications to FAME for review and final decision.
Click to view REDLRP for Day Care application, Personal Financial Statement (of all Principal Owners) and Environmental Questionnaire.
The applications above can be viewed using Adobe Acrobat. You may download a free copy of Adobe Acrobat Reader by clicking here.
Contact
207- 623-3263
1-800-228-3734
FAX: 207-623-0095
TTY: 207-626-2717