These loan programs are available to eligible Maine businesses and individuals/employees who experience hardships due to COVID-19:
COVID-19 Relief Lender Insurance Program provides commercial loan insurance of 50-75% to lenders who make loans to Maine businesses experiencing interruption or hardship due to COVID-19.
COVID-19 Relief Refinance of Existing Lender Debt Program allows Maine lenders (banks and credit unions) to receive up to 50% pro-rata commercial loan insurance on existing debt that is not currently insured by FAME.
COVID-19 Relief Business Direct Loan Program provides FAME Direct Loans of up to $50,000 with special terms available to Maine-based businesses experiencing interruption or hardship due to COVID-19.
Please see Important Notice regarding this program.
The Maine Department of Economic and Community Development has compiled a resource guide of federal and state assistance for businesses impacted by COVID-19.