Browse Ambrook’s collection of funding programs by Finance Authority of Maine (FAME)

Apply for a direct loan with FAME by following these instructions. Your final application packet must be submitted by email to business@famemaine.com. 
You may need some of the documents available below. 

Grow Maine Support Team

Grow Maine, administered by FAME in conjunction with various statewide lending partners, will provide up to $62 million of [State Small Business Credit Initiative (SSBCI)](https://home.treasury.gov/policy-issues/small-business-programs/state-small-business-credit-initiative-ssbci) funding to eligible Maine businesses. Funding will be available through FAME and its intermediary partners via loan guarantees, direct loans, and equity capital. Grow Maine is intended to provide broad access to capital to help Maine businesses grow and provide jobs for Maine people that will have long-term positive effects on Maine’s economy.

SSBCI is&#x2004;a federal program administered by the U.S. Department of the Treasury that was created to strengthen state programs that support private financing to small businesses. Governor Mills designated FAME to serve as the state agency to accept and administer the allocated funds for the program.


FAME is offering 3 different kinds of funding: 

- Direct Loans

- Equity Investment

- Commercial Loan Insurance


Only direct loans are covered by the application information here, for the others, [go to this page for more information](https://www.famemaine.com/business-financing/for-business-owners/fame-financing-programs/thrive-and-grow-maine/grow-maine-small-business-loan-capital-program/). 



Grow Maine, administered by FAME in conjunction with various statewide lending partners, will provide up to $62 million of State Small Business Credit Initiative (SSBCI) funding to eligible Maine businesses. Funding will be available through FAME and its intermediary partners via loan guarantees, direct loans, and equity capital. Grow Maine is intended to provide broad access to capital to help Maine businesses grow and provide jobs for Maine people that will have long-term positive effects on Maine’s economy.
SSBCI is a federal program administered by the U.S. Department of the Treasury that was created to strengthen state programs that support private financing to small businesses. Governor Mills designated FAME to serve as the state agency to accept and administer the allocated funds for the program.

FAME is offering 3 different kinds of funding: 
- Direct Loans
- Equity Investment
- Commercial Loan Insurance

Only direct loans are covered by the application information here, for the others, go to this page for more information. 

Maine businesses and nonprofits with fewer than 750 employees are eligible.

Eligible Purposes
Support loans or investments/projects up to $20 million for legal business purposes, including but not limited to the following:
- Start-up costs
- Working capital
- Business procurement
- Franchise fees
- Equipment
- Inventory
- Purchases of owner-occupied non-investment real estate (commercial or otherwise)
- Purchase, construction, renovation, or improvements of an eligible place of business

Ineligible Purposes
- Refinancing existing debt where SSBCI would replace private funds
- Reimbursement of funds owed by any owner
- Repayment of delinquent state or federal income taxes
- Financing a non-business purpose
- Supporting an existing extension of credit
- Security purchases
- Acquisition or holding of any other real property for investment purposes
- Lobbying activities
- Owner buyouts or equity substitution, except situations resulting in employee ownership

A payment that must be returned to the provider following specified terms of repayment and interest rate.

Loan

- Information and FAQs
- Application Instructions

HVAC

Lighting

Repairs

To prepare to apply, download the application checklist and then apply directly online at this portal.

Thrive Maine Support Team

Administered by FAME, Thrive Maine is a forgivable loan&#x2004;program for businesses and nonprofits that demonstrate COVID-related negative economic impacts. The program is funded by the [American Rescue Plan Act (ARPA)](https://www.whitehouse.gov/american-rescue-plan/), an economic stimulus bill that was passed by the 117th United States Congress, with $58 million allocated to support Maine small businesses by the Legislature and Governor Mills under LD 1733 through the [Maine Jobs and Recovery Plan](https://www.maine.gov/jobsplan/).


There will be two application periods. The first application period is now open and the second round will take place in 2023.



Administered by FAME, Thrive Maine is a forgivable loan program for businesses and nonprofits that demonstrate COVID-related negative economic impacts. The program is funded by the American Rescue Plan Act (ARPA), an economic stimulus bill that was passed by the 117th United States Congress, with $58 million allocated to support Maine small businesses by the Legislature and Governor Mills under LD 1733 through the Maine Jobs and Recovery Plan.

There will be two application periods. The first application period is now open and the second round will take place in 2023.

- Must be a Maine business or nonprofit with fewer than 500 employees.
- Must have significant operations in Maine (a minimum of 50% of employees and contract employees based in Maine).
- Must demonstrate COVID-related negative economic impact in one of the following:
    - Loss of EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization)
    - Expenses incurred
    - Increased Capital Project Cost
- Businesses must be in good standing with the State of Maine.
- Payroll, state, and federal taxes must be current.
- Must have a Unique Entity Identifier (UEI)

- Application checklist
- Loss of EBITDA Calculation Template
- Expenses Incurred Calculation Template
- Increased Capital Project Cost Calculation Template
- Example Loss of EBITDA Application
- Example Expenses Incurred Application
- Example Increased Capital Project Cost Application


Trade Relief

Trees

Wildfire

Weather

Coronavirus

Fencing

Farmers Market

Nutrition & Food Safety

Hurricane

Tornado

Flood

Drought

Emergency

Food Systems

- Total amount of funds to be distributed from minimum of $10,000 to maximum of $2 million.
- Loan forgiven at a rate of 25% per year over a four-year period. Forgivable loans are considered taxable income at the rate they are forgiven. See IRS tax code and consult your accountant for more information.
- Forgivable loans will be administered on a first-come, first-served basis.
- Losses for which the business previously received federal and/or state pandemic relief, such as Paycheck Protection Program (PPP), Economic Injury Disaster Loan (EIDL), Maine Technology Institute PRIME Grant, Maine Small Business Grant funding, and others, cannot be re-submitted.

List of Finance Authority of Maine (FAME) Funding Opportunities