Nutrient Management Loan Program (NMLP)

The Nutrient Management Loan Program helps farms and other agricultural businesses fund nutrient management projects such as diversion, irrigation, anaerobic digesters, composting, or treatment facilities. It was developed with Maine DACF, Maine DEP, and the Maine Municipal Bond Bank, and is administered by FAME.

Generally, any business or individual identified by the Maine DACF as having eligible agricultural non-point-source pollution abatement projects. Loan funds may not be used for working capital, non-project-related equipment and expenses, or refinancing. Borrowers defined as a Concentrated Animal Feeding Operation (CAFO) are not eligible. No construction lending is permitted.

Finances 100% of an eligible project up to $450,000. Interest is 2% fixed. Term up to 20 years, based on the useful life of the asset(s) financed. Secured by the assets financed plus guarantees of principals owning 20% or more (or 5% or more with significant income). Fees: 2% loan origination; 1% of the loan balance annual administration; the borrower pays all closing costs.

Two steps. Step One: submit an Eligibility Form to Maine DACF; if deemed eligible, DACF forwards it to FAME. Step Two: complete FAME's application documents, then print and mail them. Rolling — no deadline.