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ME
FAME Direct Loan
The FAME Direct Loan provides flexible gap financing for Maine startups and existing businesses when traditional loans are not enough.
About this program
The FAME Direct Loan, formerly known as the Economic Recovery Loan Program, provides operating capital and flexible gap financing for startups and existing Maine businesses for most business purposes. FAME administers the program directly as part of its business financing offerings and uses it to supplement traditional financing when conventional loans are not the solution. The program is intended to help Maine businesses access capital at different points in the business cycle.
Eligibility
Maine-based startups and existing businesses needing operating capital or flexible gap financing for eligible business purposes.
Requirements
- Business must be Maine-based.
- Funds must be used for eligible business purposes.
- Applicant must demonstrate a financing need that is not fully met by traditional lending.