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Business and Economy

Maine Credit Union Launches Program To Pay Farm Closing Costs

UNITY, Maine - A credit union in Maine said a new program will pay closing costs for purchasing or refinancing farmland in the state.

Maine Harvest Federal Credit Union made the announcement about the new Conservation Grant Program on Tuesday.

The credit union said the program would help borrowers to take advantage of low interest rates by reimbursing them up to $3,500 per loan.

Maine Harvest Federal Credit Union cofounder Scott Budde said the program would incentivize farmers who are interested in buying land.