Provided on behalf of the Kim Wallace Adaptive Equipment Loan Program Fund (mPower) Board, this program provides
assistance to disabled persons and businesses for the purchase, construction or installation of adaptive products or equipment that allow disabled persons to become more independent within the community, promotes mobility and improves independence and quality of life. Businesses may use loan funds to facilitate compliance with the Americans with Disabilities Act (ADA).
For more program information and assistance, please click on the following link:
www.mpowerloans.org
Eligibility
Must be a Maine resident with a disability or a Maine-based business.
Loan Amount / Exposure
up to $100,000
Interest Rate
Rate based on an individual's ability to pay or a businesses' debt service coverage, not to exceed Prime Rate.
Loan Term
Up to 20 years, depending on the useful life of the collateral.
Security
Assets being financed and other collateral, as required.
Fees
Out-of-pocket closing costs.
Process
:
Application package and assistance completing the application will be provided by Alpha One (see below for contact numbers).
:
Submit completed application directly to FAME.
FAME underwrites all loan requests and makes a recommendation to the Kim Wallace Adaptive Equipment Loan Program Fund (mPower) Board. Requests and recommendations are reviewed by the Board at its monthly meeting. The Board makes the final decision; FAME prepares the loan closing for all approved loans. Loan requests of $30,000 or less may receive faster response.
Application
Click here to view application. (Businesses Only)
The applications above can be viewed using Adobe Acrobat. You may download a free copy of Adobe Acrobat Reader by clicking
here.
Contact
:
South Portland: 207-767-2189 or 1-800-640-7200
Bangor: 207-941-6553 or 1-800-300-6016
Presque Isle: 207-764-6466 or 1-800-974-6466
:
207- 623-3263
1-800-228-3734
FAX: 207-623-0095
TTY: 207-626-2717
