Code of Maine Rules
94 - INDEPENDENT AGENCIES
457 - FINANCE AUTHORITY OF MAINE (FAME)
Chapter 303 - NATURAL DISASTER BUSINESS ASSISTANCE PROGRAM
Section 457-303-5 - ASSISTANCE PROVIDED

Universal Citation: 94 ME Code Rules ยง 457-303-5
Current through 2024-38, September 18, 2024

The Authority may provide assistance from the Natural Disaster Business Assistance Fund either in the form of a direct loan to a borrower or in the form of a deposit with a lender, which lender has agreed to loan the amount of the deposit to the borrower on such terms and conditions as the chief executive officer may require or approve. Assistance under this program shall be combined, to the extent feasible, with assistance under other Authority programs. Financial assistance may not be provided through a lender unless that lender certifies that it would not be able to provide a loan to the borrower without financial assistance under this program even if the Authority provided loan insurance under the Small Business Mortgage Insurance Program (Chapter 103).

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