Code of Maine Rules
94 - INDEPENDENT AGENCIES
457 - FINANCE AUTHORITY OF MAINE (FAME)
Chapter 317 - NUTRIENT MANAGEMENT LOAN PROGRAM
Section 457-317-5 - CRITERIA AND CONSIDERATIONS

Universal Citation: 94 ME Code Rules ยง 457-317-5

Current through 2024-38, September 18, 2024

A. No application will be approved unless the Commissioner has certified to the Authority that Project for which the loan is sought is an eligible Project.

B. No application will be approved unless the Authority determines that the application is complete and that information sufficient to make an informed decision on the application has been received.

C. No application will be approved unless the applicant demonstrates to the Authority the existence of a viable source of repayment for the loan, including, without limitation, the ability to repay the loan from cash flow from operations, liquidation of collateral, or other sources.

D. The Authority shall rely upon information provided to it by the Department regarding whether a Project is eligible.

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