The Government Shutdown Loan Guarantee Program, created by LD874, establishes a guarantee fund administered by the Finance Authority of Maine. In partnership with the Bureau of Financial Institutions and the State Treasurer, FAME administers the program, guaranteeing repayment of a portion of loans made by eligible banks and credit unions to federal or state employees affected by government shutdowns. Financial institutions apply to participate and once approved, can issue interest-free loans during shutdowns in accordance with LD874. In the event of a default, participating institutions may file a claim with FAME for repayment of the outstanding principal. The Guarantee Fund received an initial allocation of $250,000 and can support up to 10% of an overall loan pool. For more information, please contact support@famemaine.com or visit: https://www.famemaine.com/government-shutdown-loan-guarantee-program/.