Commercial Loan Insurance
| Loan Insurance Program | FAME Exposure Amount | Commitment Fee | Annual Insurance Fee | 3-Year Insurance Fee* | 5-Year Insurance Fee* |
|---|---|---|---|---|---|
| OLA Leveraged Term | ≤ $500M | 0.50% | 2.00% | 5.75% | 7.95% |
| OLA Leveraged Line | ≤ $500M | 0.50% | 2.00% | 5.75% | N/A |
| OLA Pro-Rata Term | ≤ $1.0MM | 0.50% | 1.00% | 2.75% | 3.95% |
| > $1.0MM | 0.50% | 1.25% | 3.50% | 4.95% | |
| OLA Pro-Rata Line | ≤ $1.0MM | 0.50% | 1.00% | 2.75% | N/A |
| > $1.0MM | 0.50% | 1.25% | 3.50% | N/A | |
| Leveraged Term | ≤ $1.0MM | 1.00% | 2.00% | 5.75% | 7.95% |
| > $1.0MM** | 1.00% | 2.50% | 7.25% | 9.95% | |
| Leveraged Line | ≤ $1.0MM | 1.00% | 2.00% | 5.75% | N/A |
| > $1.0MM** | 1.00% | 2.50% | 7.25% | N/A | |
| Pro-Rata Term | ≤ $1.0MM | 1.00% | 1.00% | 2.75% | 3.95% |
| > $1.0MM** | 1.00% | 1.25% | 3.50% | 4.95% | |
| Pro-Rata Line | ≤ $1.0MM | 1.00% | 1.00% | 2.75% | N/A |
| > $1.0MM** | 1.00% | 1.25% | 3.50% | N/A |
*Once the multi-year term is over, the insurance will automatically continue on an annual basis unless the insurance is canceled or the lender reapplies for an additional multi-year term.
**There is an application fee of $5,000 due with the loan application for loans greater than $1,000,000. This fee is partially refundable in the case of denial, but only after the cost of FAME’s due diligence is deducted. If the loan commitment is approved and accepted, the application fee may be applied to the commitment fee.
FAME Direct Loan Programs
| FAME Direct Loan Program | Direct Loan Interest Rate | First-Year Origination/ Commitment Fee | Annual Administration Fee | Application Fee | Late Fee |
|---|---|---|---|---|---|
| FAME Direct Loan | Prime + 2%, fixed at commitment | 1% | N/A | N/A | 5% of payment due |
| Regional Economic Development Revolving Loan Program for Day Care | Fixed at 5% | 1% | N/A | N/A | 5% of payment due |
| Compliance Assistance Loan Program | Fixed* | 1.5% | 0.75% of outstanding principal balance** | N/A | 5% of payment due |
** Payable over the second year and subsequent years
FAME Administered Programs
| FAME Administered Program | Direct Loan Interest Rate | First-Year Origination/ Commitment Fee | Annual Administration Fee | Application Fee | Late Fee |
|---|---|---|---|---|---|
| Agricultural Marketing Loan Fund | Fixed at 5% (or 2%***) | 1% only for loans >$100,000 | N/A | N/A | 5% of payment due |
| Dairy Improvement Fund | Fixed at 1% | 1% only for loans >$100,000 | N/A | N/A | 5% of payment due |
| Potato Marketing Improvement Fund (PMIF) — New Facility | Federal prime rate but not greater than 5% | 1% | N/A | N/A | 5% of payment due |
| Potato Marketing Improvement Fund (PMIF) — Storage Retrofit | Federal prime rate but not greater than 5% | N/A | N/A | N/A | 5% of payment due |
| Potato Marketing Improvement Fund (PMIF) — Support Facilities | Federal prime rate but not greater than 5% | 1% | N/A | N/A | 5% of payment due |
| Potato Marketing Improvement Fund (PMIF) — Value Added | Federal prime rate but not greater than 5% | 1% | N/A | N/A | 5% of payment due |
| Nutrient Management Loan Program | Fixed at 2% | 2% | 1% of principal balance | N/A | 5% of payment due |
| Maine Rural Development Authority | Up to Prime + 2%, fixed at commitment | 1% | N/A | N/A | 5% of payment due |
| Linked Investment Program for Agriculture | Up to 2% interest rate savings to borrower | N/A | N/A | $100 reservation fee (half may be refunded in limited cases) | N/A |
| Linked Investment Program for Commercial Enterprises | Up to 2% interest rate savings to borrower | N/A | N/A | $50 application fee | N/A |
