The Agricultural Marketing Loan Fund program provides financing to Maine farms and agricultural businesses to enhance and improve their products. Funds can be used for enhanced production processes, innovative marketing techniques, or product improvements.

About the Agricultural Marketing Loan Fund

The Agricultural Marketing Loan Fund (AMLF) provides low-cost financing to Maine farmers, food processors, aquaculture operators, and other agricultural enterprises for projects that enhance the manufacturing, marketability, and production of Maine products.

For example, funds may be used for the design, construction or improvement of commodity and storage buildings and packing and marketing facilities; or for the construction, renovation or acquisition of land, buildings, equipment, docks, wharves, piers, or vessels, located in the state of Maine and used in connection with an agricultural enterprise.

Funding

The Agricultural Marketing Loan Fund is funded through the Maine Department of Agriculture, Conservation and Forestry. FAME administers the program.

Eligibility

Generally, any business engaged in growing or harvesting plants; raising animals; growing, obtaining or adding value to plant or animal by-products; aquaculture; or producing, processing, storing, packaging or marketing a product derived from such a business. Outside construction lending sources may be required for projects seeking to use the Agricultural Marketing Loan Fund for agriculture-related construction take-out financing.

Loan Amount/Exposure

  • Up to 90% of total project cost, if eligible project cost is $100,000 or less.*
  • Up to 75% of total project cost, if eligible project cost is over $100,000.*
  • Up to 45% of total project cost, if eligible project is related to the production of potatoes.*
  • Maximum loan amount is $250,000; loans for land acquisition cost of start-up enterprises are limited to $100,000.

*Borrower must inject at least 5% in private funds into project.

Interest Rate

5% fixed for the term of the loan or 2% if borrower has been awarded Maine Farms for the Future Grant.

Loan Term

Up to 30 years and determined by the useful life of the asset(s) being financed.

Security

Asset(s) being financed and other collateral, as required or available.

Guarantees of business principals owning 20% or more of the business, or 5% or more and receiving significant income from the business.

Fees

  • Loan origination fee: 1% (for loans over $100,000).
  • Borrower is responsible for all loan closing costs.

How to Apply

Step One

The first step in the application process is an eligibility determination. Submit an Eligibility Form to the Maine Department of Agriculture, Conservation and Forestry (DACF).

If the project is deemed eligible, DACF will notify the applicant(s) and will forward the Eligibility Form to FAME.

Eligibility Documents (DACF)

Eligibility Contact (DACF)

Maine Department of Agriculture, Conservation and Forestry
Agricultural Resource Development Division
207-287-3491
DACF@maine.gov

Step Two

Once the project has been deemed eligible by DACF, the applicant(s) must then complete and submit the required program application documents (listed below) to FAME.

Application Downloads

Save and print your completed forms, then mail to FAME.

Application Contact (FAME)

FAME
207-623-3263 or 1-800-228-3734
Business@FAMEmaine.com