Cover photo for Maine Agricultural Marketing Loan Fund

Maine Agricultural Marketing Loan Fund (AMLF)

Maine Department of Agriculture, Conservation, and Forestry

About

The Agricultural Marketing Loan Fund (AMLF) provides financing to help Maine agricultural businesses undertake projects to enhance the viability and vitality of the farm, and improve the manufacturing, marketability and production of their products.

Eligibility

An eligible Borrower must: 

  • Be an agricultural or aquaculture enterprise;

  • Be located in the State of Maine and currently engaged in growing or harvesting plants; raising animals; growing, obtaining or adding value to plant or animal by-products; aquaculture; or producing, processing, storing, packaging or marketing a product derived from such a business being sold commercially; and

  • Propose a project that is an eligible use of the fund.

The Fund may be used to:

  • Purchase equipment;

  • Purchase of land in connection with development of new cranberry acreage;

  • Fund agricultural irrigation;

  • To support diversification of an existing farming enterprise;

  • Expand an existing agricultural enterprise to comply with land use regulations;

  • Improve pastureland to promote rotational grazing; and

  • Design, construct, or improve buildings, docks, wharves, piers, vessels, commodity and storage structures, packing facilities, or marketing facilities.

The Fund may not be used for:

  • Working capital; or

  • Refinancing projects commenced, costs incurred, or expenses paid prior to loan application. However, the Borrower may submit a written request for a waiver. Such waiver must be approved in writing by the Commissioner of the Department of Agriculture, Conservation and Forestry (DACF).

Terms

AMLF provides eligible Borrowers direct loans of up to $250,000 at a 5% fixed interest rate for capital improvements.

An eligible Borrower who previously received a Maine Farms for the Future Phase I grant may request the recommendation of the Maine Farms for the Future program for a 2% fixed interest rate.

Up to 30 years and determined by the useful life of the asset(s) being financed.

Resources

Similar Programs

Details

Organization

Maine Department of Agriculture, Conservation, and Forestry (ME DACF)

Financial Instrument

Loan

Maximum Award Amount

$250,000

Updated January 28, 2021

This information was gathered from public sources. Ambrook is not responsible for or able to affect the results of any financial programs listed, nor are they responsible for any incorrect information that is listed or is on the hyperlinked external sites. All information is subject to change.