Additional Funding for Maine’s Forestry Direct Link Loan Program now available

The Maine Forest Service’s Division of Forest Policy and Management, Department of Environmental Protection, and the Maine Municipal Bond Bank have teamed up to offer a mechanism to provide incentive financing to loggers that reduces non-point source pollution risk on timber harvests in Maine. Modeled after the Ohio Depa rtment of Natural Resources’ Silvicultural Direct Link Loan Program, the Maine Forestry Direct Link Loan Program utilizes Clean Water State Revolving Loan Funds to provide low-interest rate financing for Forestry Best Management Practices (BMPs). The purpose of providing this financial incentive is to increase the use of BMPs and environmentally friendly logging equipment in the logging industry.

Under the Maine Forestry Direct Link Loan Program loggers who are either third party certified or agree to become third party certified within one year of the execution of the Direct Link Loan Agreement are eligible for an interest rate subsidy of up to 2% on loans up to $400,000 for purchases of eligible equipment.  

There is currently approximately $1,000,000 in additional funding now available for Direct Link Loan purchases.

For additional information about program requirements, to see a list of eligible equipment, and to find a list of participating lenders visit the Maine Forest Service Direct Link Loan website at: http://www.maine.gov/doc/mfs/fpm/water/direct_link_loan/index.html

Or call or e-mail Keith Kanoti at 207-287-1073 or keith.kanoti@maine.gov