Code of Maine Rules
94 - INDEPENDENT AGENCIES
457 - FINANCE AUTHORITY OF MAINE (FAME)
Chapter 320 - BETR REIMBURSEMENT LOAN PROGRAM
Section 457-320-3 - Eligibility
Universal Citation: 94 ME Code Rules ยง 457-320-3
Current through 2024-38, September 18, 2024
To be eligible for financial assistance under the program, a borrower must demonstrate each of the following:
A. It has been certified by the bureau as predetermined to be eligible for BETR reimbursement in 2003;
B. It will suffer a substantial hardship, as determined by the Authority, as a direct result of the change in timing of the application for and receipt of reimbursement under BETR as enacted by PL 2001, ch. 714;
C. The business is creditworthy and reasonably likely to repay its obligations, including the proposed loan; and
D. The Authority will be able to obtain a first priority lien on the BETR reimbursement.
Disclaimer: These regulations may not be the most recent version. Maine may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
