Code of Maine Rules
94 - INDEPENDENT AGENCIES
457 - FINANCE AUTHORITY OF MAINE (FAME)
Chapter 314 - REGIONAL ECONOMIC DEVELOPMENT REVOLVING LOAN PROGRAM
- Section 457-314-1 - Definitions
- Section 457-314-2 - Program Implementation and Assistance Provided
- Section 457-314-3 - Advisory Committees/Boards
- Section 457-314-4 - Application Procedure and Content (for other than direct loans to borrowers)
- Section 457-314-5 - Applicant Eligibility (for other than direct loans to borrowers)
- Section 457-314-6 - Disbursements From the Fund (other than direct loans to borrowers)
- Section 457-314-7 - Contracts; Fees and Expenses
- Section 457-314-8 - Loan Terms and Conditions
- Section 457-314-9 - Eligible Projects
- Section 457-314-10 - Reports
- Section 457-314-11 - Audit
- Section 457-314-12 - Appeal to the Members
- Section 457-314-13 - Waiver of Rule
- Section 457-314-14 - Effective Date
Summary: This rule establishes the procedures and standards applicable to eligible local, regional or statewide nonprofit or governmental economic development organizations which may receive disbursements from the Regional Economic Development Revolving Loan Program Fund administered by the Authority for purposes of making loans to eligible borrowers in order to create or retain jobs, as well as revitalize downtowns and build strong communities and a sustainable economy, or for quality child care projects. The Authority may make disbursements of up to $500,000 to applicants, pursuant to a contract, and the applicants may make loans of up to $350,000 to eligible borrowers within the parameters established by this rule. The Authority may also make direct loans to eligible borrowers for quality childcare projects.
STATUTORY AUTHORITY: 10 M.R.S.A. §969-A(14) ; 10 MRSA §1026-M(11) ; P.L. 1999, Ch. 401, Part OOO; PL 2003, Ch.195; PL 2009, Ch.131; 10 M.R.S. §1026-A
