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There are a variety of loan programs available to help address the different needs of the business community. Each program has particular purposes and requirements, including a range of eligible financing, use of funds, type of business, collateral requirements, and interest rates. Most direct loans, as well as those available from other sources, require that jobs be created and/or retained as a result of awarding the loan. Below are loan programs that the business finance department and can help you obtain, and staff members are ready to explain the details of each program.
| DIRECT LOAN PROGRAMS |
| Source |
Name of loan fund |
| Economic Development Administration |
EDA Business Fund |
| Economic Development Administration |
EDA Agricultural Fund
(for non-production uses) |
| USDA |
Rural Development Regional Business Economic Grant
(a loan program to local businesses) |
| USDA |
Rural Development Intermediary Relending Program |
| Small Business Administration |
SBA MicroLoan Program
(no need for another lender to be involved up to $35,000.00) |
| State of Maine-FAME |
Regional Economic Recovery Loan Program |
| INDIRECT PROGRAM ASSISTANCE |
| Source |
Name of loan fund |
| Small Business Administration |
SBA 504 Program (infrastructure and equipment loans) |
State Department of Economic
and Community Development |
Business Assistance Fund |
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Development Fund |
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Tax Increment Financing (through the community) |
Small Business Administration |
All of the loan programs offered by SBA |
State of Maine Department of
Agriculture |
Agricultural Marketing Loan Fund |
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Potato Marketing Improvement Fund |
| USDA |
Rural Development Business and Industry Guaranty Loan Program |
| Finance Authority of Maine |
All of the loan programs offered by FAME |
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