Notes to SEFA
The Organization was granted a Start Up Loan (Series A) with a maximum draw of $12,506,124 and Solvency Loan (Series B) with a maximum draw of $119,810,000. The Series A Loan bears 0% interest and repayments are due five years from each applicable disbursement date with permission from the Maine Bureau of Insurance (BOI). The Series B Loan bears 0.37% interest that accrues monthly based on a 360 day year. The interest and principal repayments are due fifteen years from each applicable disbursement date and are payable with permission from the BOI. The total loan balance outstanding at December 31, 2023 was $132,316,124.