Commercial Loan Insurance

Loan Insurance ProgramFAME Exposure AmountCommitment FeeAnnual Insurance Fee3-Year Insurance Fee*5-Year Insurance Fee*
OLA Leveraged Term≤ $500M0.50%2.00%5.75%7.95%
OLA Leveraged Line≤ $500M0.50%2.00%5.75%N/A
OLA Pro-Rata Term≤ $1.0MM0.50%1.00%2.75%3.95%
> $1.0MM0.50%1.25%3.50%4.95%
OLA Pro-Rata Line≤ $1.0MM0.50%1.00%2.75%N/A
> $1.0MM0.50%1.25%3.50%N/A
Leveraged Term≤ $1.0MM1.00%2.00%5.75%7.95%
> $1.0MM**1.00%2.50%7.25%9.95%
Leveraged Line≤ $1.0MM1.00%2.00%5.75%N/A
> $1.0MM**1.00%2.50%7.25%N/A
Pro-Rata Term≤ $1.0MM1.00%1.00%2.75%3.95%
> $1.0MM**1.00%1.25%3.50%4.95%
Pro-Rata Line≤ $1.0MM1.00%1.00%2.75%N/A
> $1.0MM**1.00%1.25%3.50%N/A
NOTE: OLA (Online Answer Platform) is a secure web application that enables financial institutions to apply for up to $1,500,000 of loan insurance and get an immediate decision.
*Once the multi-year term is over, the insurance will automatically continue on an annual basis unless the insurance is canceled or the lender reapplies for an additional multi-year term.
**There is an application fee of $5,000 due with the loan application for loans greater than $1,000,000. This fee is partially refundable in the case of denial, but only after the cost of FAME’s due diligence is deducted. If the loan commitment is approved and accepted, the application fee may be applied to the commitment fee.

FAME Direct Loan Programs

FAME Direct
Loan Program
Direct Loan Interest RateFirst-Year Origination/ Commitment FeeAnnual Administration FeeApplication FeeLate Fee
FAME Direct Loan Prime + 2%, fixed at commitment1%N/AN/A5% of payment due
Regional Economic Development Revolving Loan Program for
Day Care
Fixed at 5%1%N/AN/A5% of payment due
Compliance Assistance Loan ProgramFixed*1.5%0.75% of outstanding principal balance**N/A5% of payment due
* Varies based on ability to pay — no greater than Prime and never less than 3.25%
** Payable over the second year and subsequent years

FAME Administered Programs

FAME Administered
Program
Direct Loan Interest RateFirst-Year Origination/ Commitment FeeAnnual Administration FeeApplication FeeLate Fee
Agricultural Marketing Loan FundFixed at 5% (or 2%***)1% only for loans >$100,000N/AN/A5% of payment due
Dairy Improvement Fund Fixed at 1%1% only for loans >$100,000N/AN/A5% of payment due
Potato Marketing Improvement Fund (PMIF) — New FacilityFederal prime rate but not greater than 5%1%N/AN/A5% of payment due
Potato Marketing Improvement Fund (PMIF) — Storage RetrofitFederal prime rate but not greater than 5%N/AN/AN/A5% of payment due
Potato Marketing Improvement Fund (PMIF) — Support FacilitiesFederal prime rate but not greater than 5%1%N/AN/A5% of payment due
Potato Marketing Improvement Fund (PMIF) — Value AddedFederal prime rate but not greater than 5%1%N/AN/A5% of payment due
Nutrient Management Loan ProgramFixed at 2%2%1% of principal balanceN/A5% of payment due
Maine Rural Development AuthorityUp to Prime + 2%, fixed at commitment1%N/AN/A5% of payment due
Linked Investment Program for AgricultureUp to 2% interest rate savings to borrowerN/AN/A$100 reservation fee (half may be refunded in limited cases)5% of payment due
Linked Investment Program for Commercial EnterprisesUp to 2% interest rate savings to borrowerN/AN/A$50 application fee5% of payment due
*** 2% if borrower has been awarded Maine Farms for the Future Grant