125th MAINE LEGISLATURE
		LD 700		LR 1775(01)
	Resolve, Directing the Finance Authority of Maine To Create a Microfinance Loan Program Entitled "Believe in ME" for Entrepreneurs under 30 Years of Age
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Rep. Dion of Portland
	Committee: Labor, Commerce, Research and Economic Development
	Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
			FY 2011-12	FY 2012-13	Projections  FY 2013-14	Projections  FY 2014-15
Net Cost (Savings)
	General Fund		$1,001,500	$0	$0	$0
Appropriations/Allocations
	General Fund		$1,001,500	$0	$0	$0
Fiscal Detail and Notes
	The Finance Authority of Maine will require one-time General Fund appropriations totaling $1,001,500 in fiscal year 2011-12 to create the "Believe in ME" microfinance loan program for eligible entrepreneurs.  Of this amount, $1,000,000 is to capitalize the loan program and $1,500 is for the administrative costs associated with creating the program.