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W W W. M A I N E B I Z . B I Z 49 Fact Book / Doing Business in Maine B U S I N E S S R E S O U R C E S Direct Loans The FAME Direct Loan: Provides subordinate or gap financing to businesses affected by their cur- rent economic situation. Loans up to $1 million may be available if substantial public benefit is dem- onstrated and sufficient funds are available. FAME provides these loans directly to Maine businesses to help them succeed and at times turn around. We also provide such loans to start-ups, when a busi- ness seeks to grow when they may already have equity but need sub- debt to reach their next level of operations. In both cases, FAME is lending at greater risk for public benefit than our lending partners are able to do. Over the years, the state and Maine voters have provided approximately $18.5 million to this program. In return, approximately $94 million in direct loans have been extended by FAME to Maine businesses. is in turn has helped to retain 22,000 Maine jobs and create another 4,828. is program thus has enjoyed a remarkable 508% return on investment! In FY 21, FAME provided 15 loans to Maine businesses totaling approximately $3 million. This helped to create or retain 321 Maine jobs. Partner-Focused Purpose FAME partners with and provides services to other entities such as: con- tractor management, loan underwrit- ing and servicing, fund management, as well as board administrative support: Maine Department of Agriculture, Conservation and Forestry — Agricultural Marketing Loan Fund (AMLF): Provides 5% fixed-rate loans to natural resource-based businesses that employ new and innovative technologies and processes in order to improve, expand, and enhance the manufacturing, marketability, and production of Maine-made agricultural products. Funds may be used for the design, construc- tion or improvement of facilities such as commodity storage build- ings and packing and marketing facilities. Funds may also be used to purchase or retrofit machinery and equipment. In FY 21, AMLF provided no loans. Maine Potato Board and Maine Department of Agriculture, Conservation and Forestry - Potato Marketing Improvement Fund Program (PMIF): Provides 5 percent fixed-rate loans to busi- nesses for the construction and/or retro-fitting of potato packing and storage facilities. (Note: Pursuant to a new law enacted by the 130 th Maine Legislature, the program now will offer interest rates set at the prime rate on the date of loan closing or up to a maximum of 5%, and also will allow existing loans in good standing to be refinanced at the same rate.) Funds may be used for new construction or improve- ments to storage and/or central- ized packing facilities, as well as for the acquisition of packing, sizing, washing and drying equipment. In addition, PMIF funds may be used to fund programs that improve the economic viability of the potato industry. Such improvements may include irrigation equipment and water source development projects. In FY 21, PMIF provided no loans. Maine Department of Agriculture, Conservation and Forestry — Dairy Improvement Fund: Provides loans to assist dairy farmers in making capital improvements to maintain and enhance the viability of their farms. In FY 21, this program provided six loans for $815,335. Maine Department of Environmental Protection and Maine Municipal Bond Bank — Commercial Assistance Loan Program: is program helps businesses finance the renovation, removal, disposal or replacement of all or any part of certain oil storage facili- ties or tanks and certain air quality improvement equipment, in conjunc- tion with the Maine Municipal Bond Bank and the Maine Department of Environmental Protection. In FY 20, this program provided four loans totaling $370,049. The Maine Rural Development Authority (MRDA): FAME pro- vides underwriting and adminis- trative services to the Maine Rural Development Authority (MRDA). e MRDA provides financial Maine's credit unions are here for you. mainecreditunions.org Local businesses are the financial heart of Maine. Like you, Maine credit unions are local and are important to our state's economy. We have the convenient services that you need to grow and be successful. • Checking and savings accounts • Better loan rates • Lower fees • Digital banking and remote deposit Open an account at a credit union today.

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