Section 001-32-II - DefinitionsA.Agricultural enterprise. "Agricultural enterprise" means a person or business, located in Maine, engaged in the commercial growing or harvesting of plants; raising of animals; growing or obtaining plant or animal by-products, aquaculture, as defined in Title 12, section 6001, subsection 1; or further processing, storing, packaging or marketing a raw product derived from plants, animals, plant or animal by-products or aquaculture as defined in Title 12, section 6001, subsection 1, with the intent that the product be sold or otherwise disposed of to generate income. "Agricultural enterprise" shall also include a business or activity that attracts visitors to a farm for the purpose of supplementing income from the primary crop or livestock operation. "Agricultural enterprise" does not include a business engaged primarily in the growing, harvesting or further processing of forest species of trees for the purpose of producing pulp or other materials used in the paper manufacturing or wood manufacturing process.B.Borrower: The term "borrower" shall mean the applicant and any related or affiliated individual or entity which shares assets, such as land, machinery and equipment or other property, with the applicant in connection with the applicant's agricultural enterprise.C.Direct Marketing: "Direct marketing" means the marketing of agricultural products by farmers directly to consumers and restaurants. "Direct marketing" includes, but is not limited to: farmers' markets, farms selling produce picked by the consumer, roadside farm stands, farms selling shares of an anticipated harvest and catalog sales.D.Emerging : The term "emerging" shall mean an industry which the Commissioner determines is new to the State at the time of application, or which, although not new to the State, has the potential, as determined by the Commissioner, to increase its production within the State by more than 30% over the 5 year period following application. The applicant shall provide, at the request of the Commissioner, information demonstrating that the applicant's industry is emerging.E.Fair Market Value : The term "fair market value" shall mean the value of property as determined by a written appraisal, with a certificate signed by the appraiser, or by other method approved by the Commissioner.F.Industry : The term "industry" shall mean any line of business involving agriculture, which the Commissioner determines uses the same raw material for its product. When applied to products derived from plants, it shall be determined by plant type, e.g., corn, potato, cranberry, blueberry, regardless of the form which the product takes. When applied to products derived from animals, it shall be determined by the aspect of the animal used to make the product, e.g., milk, meat, coat. The industry a particular agricultural enterprise is engaged in shall be determined by the project for which the loan is sought.G.New and Innovative : The term "new and innovative," shall mean a method, process, machine or structure not previously developed, or if previously developed, not commonly utilized for the support of agricultural production and marketing in Maine . H.Prime Rate : The term "Prime Rate" shall mean the highest prime rate as reported by the Wall Street Journal.I.Private Funds : The term "private funds" shall mean equity in the form of cash and/or property of the applicant, including cash from loans subordinated to the AMLF loan secured by assets not related to the project, or the value of services to be contributed to the project by the applicant, as determined and to be approved in advance by the Department.J.Processing : The term "processing" shall mean changing the form of an agricultural product through the application of labor or materials or both.K.Project: The term "project" shall mean the use to which the loan or grant proceeds are to be put, as approved by the Commissioner.01-001 C.M.R. ch. 32, § II