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Economic Recovery Loan Program

This program provides subordinate (gap) financing to assist businesses in their efforts to remain viable and/or improve productivity.


Maine-based businesses that exhibit a reasonable ability to repay the loan and demonstrate that other sources of capital have been exhausted.

Loan Amount / Exposure

  • $200,000 maximum loan amount.
  • Larger loans, up to $1,000,000, may be available if substantial public benefit is demonstrated.

Interest Rate

Fixed rate; Prime plus 2%

Loan Term

5 years, with differing payment arrangements in the interim available.


Assets being financed and other collateral, as required.


Unlimited personal guarantees of the business principals; secured by personal real estate (where available), are generally required.


1% origination fee based upon the loan amount and all costs of closing, including in-house or outside counsel fees.


Submit a complete application to FAME. FAME will underwrite the request and make a final decision.


Click here to view application.

The applications above can be viewed using Adobe Acrobat. You may download a free copy of Adobe Acrobat Reader by clicking here.


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