Major Business Expansion Bond:

This provides long term, credit-enhanced financing up to $25,000,000 at taxable bond rates for businesses creating or retaining 50 jobs and long term, tax exempt rates on bonds of up to $10,000,000 that are used to finance manufacturing expansions.

Eligibility:

  • Any business with the historical capacity to service the proposed bond debt.
  • A business must create or retain at least 50 jobs.
  • Bond proceeds may be used to acquire real estate, machinery, equipment or fixtures, or expand or rehabilitate a facility.

Loan Amount/Exposure:

  • $1 million to $25 million taxable debt, or
  • $1 million to $10 million tax-exempt debt.

Interest Rate: Interest rate isdetermined by market at the time of bond sale or placement.

Loan Term: Determined by the useful life of the assets being financed.

Security: First security interest in the assets being financed, plus other collateral and guarantees determined to be necessary by FAME.

Additional Information: Borrowers may be required to fund a capital reserve account with bond proceeds or other funds.

Process: Borrowers considering applying under this program should contact FAME for advice on program requirements and applicability tothe project.

Contact: Finance Authority of Maine, 207-623-3263.
www.famemaine.com

 

Revenue Obligations Security Program:

This program provides manufacturing borrowers with State access to tax-exempt bond financing and is ideally suited when the borrower proposes to arrange its own credit enhancement.

Eligibility: Any borrower proposing to use bond proceeds for the acquisition or construction of a manufacturing asset, or other projects allowed by tax code.

Bond Issuer: FAME

Loan Amount /Exposure: Determined by the provider of credit enhancement and tax code...generally up to $10 million for-profit enterprises and larger amounts for 501 (C) (3) organizations and certain specialized projects.

Interest Rate: Market tax-exempt rates determined by market at time of bond sale.

Loan Term: Structured with provider of credit enhancement.

Security: Assets being financed.

Additional Information: Borrowers seeking financing must have a project that qualifies under the Internal Revenue Code.

Process: Borrowers considering financing should contact FAME.

Contact: Finance Authority of Maine, 207-623-3263.
www.famemaine.com

 

Municipal Securities Approval Program:

This program provides manufacturing borrowers with local access to tax-exempt bond financing and is ideally suited when the borrower proposes to arrange its own credit enhancement.

Eligibility: Any borrower proposing to use bond proceeds for the acquisition or construction of a manufacturing asset or other limited purposes allowed by the tax code.

Bond Issuer: Municipality

Loan Amount/Exposure: Loan amount is determined by the provider of credit enhancement and tax code...generally up to $10 million for for-profit enterprises and larger amounts for 501 (C) (3) organizations and certain specialized projects.

Interest Rate: Market tax-exempt rates. Pricing is determined by market conditions at time of bond sale.

Loan Term: Structured with provider of credit enhancement.

Security: Assets being financed.

Additional Information: Borrowers seeking financing must have a project that qualifies under the Internal Revenue Code.

Process: Borrowers seeking financing should contact FAME.

Contact: Finance Authority of Maine, 207-623-3263.
www.famemaine.com

 

Secondary Market Taxable Bond Program:

This program provides long-term bond financing on loans for real estate and machinery and equipment acquisitions.

Eligibility: Any commercially viable borrower proposing to finance the acquisition of commercial or industrial assets.

Loan Amount Exposure: Up to 90% of the project debt. FAME exposure to any one relationship may not exceed $4,750,000.

Interest Rate: Pricing is determined by market conditions at time of bond sale.

Loan Term: Determined by the useful life of the assets being financed.

Security: First security interest in the assets being financed. FAME may require additional collateral or guarantees.

Process: Borrowers considering applying should contact FAME for advice on program requirements and applicability to the project.

Contact: Finance Authority of Maine, 207-623-3263.
www.famemaine.com

 

Secondary Market Tax-Exempt Bond Program:

This program provides tax-exempt interest rate bond financing for manufacturing borrowers.

Eligibility: Any commercially viable borrower proposing to finance the acquisition or expansion of manufacturing assets.

Loan Amount/Exposure:

  • Up to 90% of the project debt. FAME exposure to any one relationship may not exceed $4,750,000.
  • Due to limitations of the marketplace, small loans may not be feasible.

Interest Rate: Market tax–exempt rates. Pricing is determined by market conditions at time of bond sale.

Loan Term: Determined by the useful life of the assets being financed.

Security: First security interest in the assets being financed. FAME may require additional collateral or guarantees.

Process: borrowers considering applying should contact FAME for advice on program requirements and applicability to project.

Contact: Finance Authority of Maine, 207-623-3263.
www.famemaine.com