ME LD1733

Establishes the Improvements to Logging and Fishing Enterprises Loan Program within the Finance Authority of Maine to provide capital financing for commercial fishing and logging operations

Sets interest rates at the federal prime rate, capped at no more than 2%, with existing loans eligible for refinancing at the reduced rate

Loans may cover up to 90% of project costs for purchasing new or used capital equipment, with projects over $200,000 requiring at least 5% private funding commitment

Eligible borrowers include commercial fishers, aquaculturists, fishing cooperatives, and independent logging contractors engaged in harvesting or hauling trees

Allocates $500 in base funding for fiscal years 2025-26 and 2026-27 to authorize expenditures when additional funds are received; became law without Governor's signature on June 22, 2025