Code of Maine Rules
94 - INDEPENDENT AGENCIES
457 - FINANCE AUTHORITY OF MAINE (FAME)
Chapter 312 - INTERMEDIARY RELENDING PROGRAM
Section 457-312-8 - Loan Priority

Universal Citation: 94 ME Code Rules ยง 457-312-8

Current through 2024-38, September 18, 2024

In the event the demand for loans exceeds the funds available in the loan fund, the Authority shall consider the following in determining the distribution of the loan fund.

A. The percentage of the workforce and number of workers who are members of families with income below the poverty line.

B. The number of jobs likely to be retained or created in the event the loan is made.

C. The likelihood of the long-term success of the Borrower if assistance is awarded.

D. The availability of other sources of assistance to supplement a loan under this program and other sources of assistance from the State.

The authority may determine in the discretion of the chief executive officer that a reasonable and prudent amount shall be retained in the fund, despite any application which may be pending.

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