Maine Forestry Direct Link Loan Program

Program Description

Second and third party certified loggers (loggers who have received training in harvesting BMPs from MFS, Maine’s Sustainable Forestry Initiative (SFI), Certified Logging Professionals (CLP), Qualified Logging Professionals (QLP)) could obtain low-interest financing from participating banks through a Maine Forestry Direct Link Loan Program. MFS will: 1) determine the items that are eligible for financing, 2) ensure that the logger is second or third party certified, 3) ensure that the logger retains, on file, Maine Master Logger Integrity System forms, and 4) monitor the improvements and practices of the logger.

The DEP and MMBB will: 1) enter into a memorandum of understanding with MFS to implement the program, 2) work with local banks to participate in the program, and 3) provide oversight within the context of managing the Maine Forestry Direct Link Loan Program.

It is estimated that the demand for linked deposit funds for this effort would be approximately $3,000,000 to $4,000,000 annually. Additional funds may be made available depending on the program’s use and need.