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 insurance application for loan insurance coverage equal to or more than $1,000,000. This fee is non-refundable. If the loan insurance 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 |
