Maine Agricultural Marketing Loan Fund

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.

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/adding value to plant or animal by-products, aquaculture, or producing/processing/storing/packaging/marketing a commercially sold product derived from such a business; and propose a project that is an eligible use of the fund.

Eligible Uses: The Fund may be used for a wide variety of capital expenditures to improve farm business operations and profitability, including to purchase equipment; design, purchase, renovate, or improve farm buildings or structures; develop a new water source or purchase irrigation equipment; diversify existing farming enterprises by adding or testing new products; expand an existing agricultural enterprise to comply with land use regulations; improve pastureland to promote rotational grazing; or implement climate change mitigation strategies. Construction projects are eligible as 'take-out financing': borrowers secure a construction loan from another lender until the project is complete, at which point the loan can be transferred to AMLF.

Ineligible Uses: working capital (including payroll, marketing expenses, seeds, supplies, or inventory); or refinancing projects commenced, costs incurred, or expenses paid prior to loan application (a written waiver request may be submitted for Commissioner approval).

AMLF provides eligible Borrowers direct loans of up to $250,000. The interest rate for these loans is either the federal prime rate or 5%, whichever is lower at the commencement of the loan. Any 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. Loan terms run up to 30 years, determined by the useful life of the asset(s) being financed.

1. Before you complete any forms, take time to update your business plan, budget & financial projections to include the proposed project. Contact DACF staff with any eligibility questions in advance of submitting your proposal.

2. Complete the fillable Project Eligibility Form (PDF) digitally, and email it to DACF.

3. DACF will review your Project Eligibility Form and may contact you to conduct a telephone interview and make a site visit.

4. The Commissioner will then either issue a Letter of Eligibility for your project or recommend that you revise and resubmit your Project Eligibility Form for reconsideration.

5. If the Commissioner issues a Letter of Eligibility for your project, then you, as an eligible Borrower, may submit your completed AMLF Loan Application and FAME Personal Financial Statement to FAME. You must do this within 90 days. Please see FAME's Agricultural Marketing Loan Fund webpage for more details and forms.

• Application—Agricultural Marketing Loan Fund

• Personal Financial Statement

• AMLF Fact Sheet (PDF)

• Eligibility Form (PDF)