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These resources – like the public health crisis itself – are constantly evolving and are only current as to the date of publication. This page was last updated on May 20, 2020.

For more up-to-date information on the relief programs available in Maine, we recommend that you visit the state's COVID-19 Response website.

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Description of Program and Relief

COVID-19 Relief Consumer Loan Program

Maine passed emergency legislation to assist Mainers with no-to-low interest consumer loans through a loan guaranty program involving the Finance Authority of Maine (FAME) and Maine’s banks and credit unions. The program provides for low-to-no-interest loans, guaranteed by FAME, of up to $5,000 (minus unemployment benefits) to eligible “affected employees” who have been negatively affected by COVID-19. Borrowers must first approach local banks or credit unions, and should check whether their lender is participating, as the program is voluntary on the part of Maine lenders. Borrowers who have received loans may apply to the same credit union or financial institution for each 30-day period that the employee remains an eligible affected employee, for a maximum of three loans.

Government or Lead Agency

Finance Authority of Maine, backed by the State of Maine.

Dates Available

Effective immediately.

Eligibility Requirements/Restrictions

Application Deadlines (If Applicable)

December 31, 2020.

Contact for More Information

Contact (800) 872-3838 or (800) 541-5872 (outside of Maine) or

List of Additional Information

For more information or to apply, please visit here.

© 2021 Paul, Weiss, Rifkind, Wharton & Garrison LLP. This does not constitute legal advice and does not create an attorney-client relationship. In some jurisdictions, this publication may be considered attorney advertising. Past representations are no guarantee of future outcomes.

© 2021 Paul, Weiss, Rifkind, Wharton & Garrison LLP

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