Business & Education at Work for Maine

The Finance Authority of Maine provides access to innovative financial solutions to help Maine citizens pursue business and higher education opportunities.

FAME Approves New Rule to Govern Maine New Markets Capital Investment Tax Credit

The Board of Directors of the Finance Authority of Maine (FAME) recently approved a new rule to govern the newly created Maine New Markets Capital Investment Program. The rule closely tracks a statute enacted by the Legislature last session creating the Maine New Markets Capital Investment Program, which is modeled after the federal tax credit. Designed to attract investment in economically distressed areas, the program allows eligible investors to claim tax credits against state taxes in amounts up to 39 percent of a project’s total cost. The maximum aggregate amount of tax credit authority is set forth at $250 million and the amount of tax credits claimed per fiscal year limited to $20 million. FAME will administer the program in cooperation with Maine Revenue Services and the Maine Department of Economic and Community Development. Learn more...  

$13.2 Million in Federal Funds to be Available for the State Small Business Credit Initiative

The U.S. Department of the Treasury and Maine Governor Paul LePage Announce $13.2 Million in federal funds to help spur $132 million in new lending to Maine's small businesses. Learn more...