Regional Economic Development Revolving Loan Program (REDRLP)

Regional Economic Development Revolving Loan Program (REDRLP) is sponsored by Finance Authority of Maine (FAME) (through Maine's regional economic development agencies). Makes loans through Maine's regional economic development agencies to help create or retain jobs. FAME disburses funds to regional agencies, which then make loans to eligible businesses.

Regional Economic Development Revolving Loan Program - FAME Maine Affording Higher Education Getting Ready for College Foreign Credentialing Loan Program Military Families and Veterans Previously Incarcerated Students Employer Financial Wellness Roadmap Resources Maine Grant and Tuition Programs Doctors for Maine’s Future Scholarship Maine State Grant Program Out-of-State Reduced Tuition Consider Before You Borrow Federal Student Loan Programs Apply for a Private Student Loan with a Maine Lender Maine Loan Repayment Calculator Loans for the Health Professions Educators for Maine Program Important Federal Education Loan Updates Consolidating and Refinancing Student Loans Apply for a Private Refinance Loan with a Maine Lender Maine Dental Education Loan Repayment Program Student Loan/Salary Calculator Resources For Professionals Agricultural Marketing Loan Fund Potato Marketing Improvement Fund Nutrient Management Loan Program Linked Investment Program for Agriculture Compliance Assistance Loan Program Hospital System Loan Fund Program Regional Economic Development Revolving Loan Program Maine Rural Development Authority Linked Investment Program for Commercial Enterprises Revenue Obligations Securities Program Municipal Securities Approval Program Equity Capital and Tax Credits Maine New Markets Capital Investment Program Maine Seed Capital Tax Credit Program Resources for Business Owners Glossary of Financial Terms Commercial Loan Insurance Build Your Personal Financial Wellness Start Saving and Investing Understand Taxes and Insurance Protect Your Money and Identity Build Your Student’s Financial Wellness High School Students and Beyond Resources for Educators and Professionals Build Your Employees’ Financial Wellness Employer Financial Wellness Roadmap Employee Tuition Assistance Financial Aid Info Sessions Financial Check-in with FAME Advisory Committee on Education Savings Regional Economic Development Revolving Loan Program Federal Student Loan Repayment Help Confused about student loan repayment and not sure where to turn?

FAME can help! Making a plan for saving is the first step towards making education after high school a reality. Saving now will put you in a better position to pay for education after high school later.

Paying for education after high school usually comes from a variety of sources. Resources for Professionals Find helpful resources for educators, financial aid offices, and other professionals working with students. Use FAME’s online search to find Maine scholarships.

Learn more about managing your finances and improving your financial health. FAME has resources to help you serve your students and their families. There are things you can do at every stage to prepare for higher education.

FAME provides specific resources for New Mainers, Adult Students, Military Families and Veterans, and Employers. Learn more about managing your finances and improving your financial health. There are many ways to save for college.

Learn more about options that may work for you. A great way to help your child save for college. NextGen 529 is Maine’s section 529 plan which many Maine families use to save for college.

It can be hard to find money in your budget for college savings. These tips will help you find ways to save money. There’s money available to help pay for college.

Learn more about applying for financial aid and filing the FAFSA. Free Community College is Here If you’re a Maine student who earned (or will earn) a high school diploma or equivalent in 2022, 2023, 2024 or 2025, you can attend Maine community college tuition free, but you’ll need to file the FAFSA first. Scholarships provide free money to pay for college.

Start your search for Maine scholarships here. Resources, Videos, and Calculators Use FAME’s Resources & Tools to help you afford higher education. Videos, webinars, and more to help you serve your students and families, as well as professional development opportunities.

Resources for Financial Aid Offices EPIC login and financial education resources to share with students. For over 40 years FAME has helped Maine people reach their business goals. FAME helps Maine lenders and their customers get to "yes."

FAME encourages investments in Maine businesses, both directly and through private venture capital funds. Commercial Loan Insurance FAME’s commercial loan insurance program helps lenders make business loans by reducing risk. When traditional loans are not the solution, FAME’s business loans may be the answer.

Learn about key steps in the business planning and financing process. Whether you’re starting a business or seeking financing for an existing one, learn about key steps in the business planning and financing process. When traditional loans aren’t an option for your business, FAME’s financing programs may be the answer.

Resources for Business Owners A collection of resources to help you plan and build your business. This network of alternative funding and counseling agencies can help you start or grow your Maine business. Commercial Loan Insurance for Lenders FAME’s commercial loan insurance insures a portion of loans made through participating financial institutions.

Miss out on a webinar? Find recordings and resources for FAME Business Webinars here. Quick link to FAME fees and rates for lender programs.

Maine New Markets Capital Investment Program Provides tax credits to investors in community development entities that reinvest in businesses located in low-income Maine communities. Maine Seed Capital Tax Credit Program Encourages investments in small businesses by providing credits to outside passive investors.

Free Online Financial Education Powered by iGrad® and Enrich®, FAME offers free online financial education to support Maine people during high school, college, and beyond. Build Your Financial Wellness Free resources to guide you on your path toward financial freedom. Grow Your Student or Child's Financial Wellness Tools to help you support youth financial capability.

Invest in Your Employees’ Financial Wellness Resources to help your employees improve their financial well-being. Employee Financial Wellness Roadmap Improving employees’ financial wellness helps improve productivity and satisfaction. Assistance available to help you create a win-win program.

An interactive program that encourages high school students to explore the return on investment of various career pathways and financial decision-making. Steps to Financial Wellness Setting goals, creating a budget, managing debt and credit, and MORE! All great steps to help you become financially capable.

Financial Wellness Resources FAME provides free financial wellness programs to help Maine people become more financially capable. Monthly Financial Check-in with FAME Free Webinars to learn more about preparing for and paying for higher education, including refinancing student loan debt. Resources for Elementary Students Invest in your child’s future and build money skills for life.

Resources for High School and Beyond Play Claim Your Future – career & budget game or use iGrad Online Financial Education with your students, and more… Resources for Educators and Professionals FAME has developed extensive resources for educators and professionals who support financial education in their school or community.

Employee Financial Wellness Roadmap This roadmap has resources and support to guide the development of life-changing financial education for your employees. Free flyers, videos, webinars, and more to share with your employees as employer-provided benefits.

Grow Maine: Small Business Loan and Capital Program Equity Capital and Tax Credits Resources for Business Owners Glossary of Financial Terms Commercial Loan Insurance Grow Maine: Small Business Loan and Capital Program Grow Maine – Documents for Agencies & Equity Investors Compliance Assistance Loan Program Regional Economic Development Revolving Loan Program Regional Economic Development Revolving Loan Program for Day Care Maine Rural Development Authority Linked Investment Program for Commercial Enterprises Equity Capital and Tax Credits Maine New Markets Capital Investment Program Maine Seed Capital Tax Credit Program Revenue Obligations Securities Program Municipal Securities Approval Program Resources for Business Owners Glossary of Financial Terms Commercial Loan Insurance The Regional Economic Development Revolving Loan Program (REDRLP) makes loans through Maine’s regional economic development agencies to help create or retain jobs.

FAME makes disbursements to regional economic development agencies, and the agencies in turn make loans to eligible borrowers.

About the Regional Economic Development Revolving Loan Program Businesses that have sales under $10,000,000 or employ 100 or fewer employees, conducting business in the following categories: Advanced manufacturing technologies Advanced information systems Advanced biological/natural resource technologies Conversion from defense industry Significant export involvement (goods or services) Significant research and development Micro-businesses (fewer than 15 employees) Quality child-care projects (Regional Economic Development Revolving Loan Program for Day Care is also administered directly by FAME) Businesses significantly engaged in commercial and/or mixed-use real estate and/or community facilities development Businesses significantly engaged in serving tourists, such as outdoor recreation, culture, heritage and hospitality 50% of total project cost, for projects from $50,000 up to maximum loan amount of $350,000 100% of total project cost, for projects less than $50,000 100% of total project cost, for quality child-care projects up to maximum loan amount of $350,000 Negotiated with regional agency, usually below market.

List of agencies below. Up to 20 years, depending on assets being financed. Assets being financed and other collateral, as required.

Fees are set by each agency. Applications are provided by each agency. Please contact the agency covering your area for information and applications.

The agency reviews, underwrites, and notifies borrower of final loan determination.

View Participating Agencies Androscoggin Valley Council of Governments (AVCOG) Bangor Airport Civic Development Corporation Caribou Chamber of Commerce & Industry Coastal Enterprises, Inc. Eastern Maine Development Corporation Greater Portland Council of Governments 970 Baxter Boulevard, Suite 21 Kennebec Valley Council of Governments Lewiston Auburn Economic Growth Council (LAEGC) at the LA Metro Chamber of Commerce 415 Lisbon Street, Suite 1 262 Harlow Street, PO Box 1162 Midcoast Council of Governments 165 Main Street, Suite 2F Northern Maine Development Commission Somerset Economic Development Corporation www.

somerseteconomicdevelopment. com Southern Maine Finance Agency 20 Pomerleau Street, Suite 400 Sunrise County Economic Council Washington Hancock Community Agency www. downeastcommunitypartners.

org Download the form for participating agencies. Loan Reporting and REDRLP Fund Requisition Form As part of the application process for your private loan, you will need to complete a brief private loan counseling course on iGrad, a financial literacy resource provided by the Finance Authority of Maine (FAME). The course will take approximately 10 minutes, after which you will be directed to the loan application.

Manage your FAME loan(s) online! FOR BUSINESS LOANS: Please call 1-800-228-3734 , option 1. FOR EDUCATION LOANS: Visit the FAME Loan Repayment Portal , and click the green “Register” button.

Be sure to have your loan account number, your contact information (email and phone number), and your phone. These will be required to set up your online loan account. New and returning customers — Apply today !

NOTE: Maine Loan accounts in good standing are serviced by FirstMark Services and are not accessible through the FAME Loan Repayment Portal.