Recent News Posts

Items of Interest for January 2012:

State of Maine Grant EFC Cut-off Increased

Mary Dyer named President of Maine Jump$tart

Legislative Update

The Board of Directors of the Finance Authority of Maine (FAME) has approved loan insurance for Twin Rivers Paper Company in Madawaska.  FAME’s actions will help accelerate the company’s strategic initiatives  and help maintain approximately 630 jobs in Maine.

“FAME is pleased to support Twin Rivers Paper and the Madawaska mill, which is a vital asset to the community and to the state as a whole.  Our expectation is that the mill will remain competitive on a global basis and continue to employ hardworking Mainers,” stated FAME Board Chair Susan Snowden. 

FAME’s loan insurance of 90 percent on a $5.27 million direct loan by Canadian Imperial Bank of Commerce will provide additional working capital for Twin Rivers Paper Company.  Part of a larger financing package, the deal will enable the company to maintain 630 jobs in Maine and 400 jobs in New Brunswick.  Twin Rivers Paper is an integrated specialty paper company that manufactures publishing, packaging and label products for targeted markets and applications.  It has operations in New Brunswick, Québec, and Maine.

Twin Rivers Paper President and CEO Jeffrey Dutton stated:  “Thanks to FAME’s assistance, Twin Rivers Paper will accelerate its strategic initiatives maintain good-paying jobs in the state and successfully compete in the global marketplace.” 

Items of Interest for December, 2011:

Outreach Events

State of Maine Grant EFC Cut-Off Increased

Legislative Update

The Finance Authority of Maine (FAME), which administers state and federal college grants and scholarships, is pleased to announce the 2012 schedule for free workshops on completion of the Free Application for Federal Student Aid (FAFSA) throughout the state. 

College Goal Maine will launch on January 4th and continue into February, offering free assistance with FAFSA completion, which is required by most educational institutions for financial aid consideration.

Ten free regional workshops will take place on January 29, 2012, which is known in many states as College Goal Sunday.

For the past eight years, FAME’s free FAFSA completion program has drawn thousands of Maine families to locations all over the state to workshops that provide financial aid information to college-bound students and their families. All locations will again use computer labs, allowing participants to access the FAFSA online during the seminar. Line-by-line assistance will be provided by financial aid professionals from Maine colleges and universities. All attendees are encouraged to bring recent tax information or estimates. Residents of all ages who are interested in college or postsecondary education should consider attending.

Financial assistance can come from a variety of resources, including grants, scholarships, federal and other student loans, and work-study jobs. Application deadlines vary at each school, and students are urged to contact schools directly about filing deadlines. 

Many financial aid applicants are filing too late for grants, loans and scholarships, according to FAME Chief Executive Officer Beth Bordowitz: “These free workshops are designed to help Maine students of all ages access needed financial aid. FAME wants to encourage early applications so Maine families and students can take full advantage of all available resources.” 

“In this economy, any education beyond high school is valuable in acquiring a job – whether it is a one-year certificate or a two-or four-year degree,” said Bordowitz. “Gaining access to financial aid is an important step toward continuing education."

To learn more about the College Goal Maine FAFSA workshops and locations, visit http://www.collegegoalsundaymaine.com/ or call FAME toll free at 1-800-228-3734.

Items of Interest for December 2011:

Financial Planning Conference & Showcase Maine

Reserve Cup Challenge

College Goal Maine

The Board of Directors of the Finance Authority of Maine (FAME) recently approved direct loan financing for Great Northern Paper Company, LLC in Millinocket.  FAME’s actions will help to strengthen the company’s financial position and create and retain approximately 215 jobs in Maine.

“FAME is pleased to assist Great Northern Paper Company, which is a vital asset to the Katahdin region and to the state of Maine.  Our expectation is that the mill will remain competitive on a global basis and continue to employ hardworking Mainers,” stated new FAME Board Chair Susan Snowden. 

At FAME’s November 15 meeting, the Board approved a direct loan of $1 million to help re-start the Great Northern Paper Company’s mills in Millinocket and East Millinocket.  The loan proceeds will be used by the company to make personal property tax payments due the towns by the end of 2011. 

The East Millinocket Mill resumed operations of its Number 5 paper machine and now employs 215 Mainers. 

“Great Northern is very appreciative of FAME’s swift and flexible actions. Their efforts will greatly assist us in maintaining sustainable business operations and keep folks employed long term” stated Richard Cyr, CEO of Great Northern Paper.

The Board also held public hearings on two proposed rules created in response to recent legislative action:  an amendment to the existing Maine Seed Capital Tax Credit Program and the newly created Maine New Markets Tax Credit Program.

Finally, the Board elected the following individuals as officers for 2012:  Susan Snowden of Scarborough, Chair; Cheri Walker of Falmouth, Vice President; and Patrick Murphy of Portland, Treasurer. 

The Finance Authority of Maine (FAME) held its annual meeting and awards event, Showcase Maine, on Tuesday, November 15, 2011, at Portland’s Holiday Inn By The Bay.

Showcase Maine is a celebration of the many successful partnerships FAME has forged over the years with Maine’s business and higher education communities. 

The evening featured a reception, including exhibits by forty-five Maine businesses and educational organizations that partner with FAME; a dinner and awards presentation; and a keynote speech by Robert C. Doll, CFA, CPA.  Doll is the Senior Managing Director, Chief Equity Strategist, and Head of the U.S. Large Cap Series at BlackRock.  BlackRock is one of the world’s leading providers of investment advisory and risk management solutions.

“We were happy to celebrate the successes of the past year with our many partners in both the business and higher education sectors,” said Beth Bordowitz, FAME’s Chief Executive Officer.  “Attendees enjoyed visiting our showcase of Maine businesses and educational organizations.”

In addition to the reception showcasing various Maine business and educational organizations, the evening featured a dinner and awards presentation.  This year’s award recipients included: 

• Kepware Technologies, Inc. of Portland (Business at Work for Maine Award):  Kepware develops a wide range of communication and interoperability software solutions for the automation industry.  They are committed to strengthening Maine’s workforce by providing scholarships and internship opportunities for engineering students.

• STRIVE U (Education at Work for Maine Award):  STRIVE U provides postsecondary education and training to young adults with developmental disabilities in the realms of residential, employment, and community skills, with the goal of enabling its graduates to live and work as full community members with maximum independence and productivity.

• Camden National Bank (Financial Institution of the Year Award):  Camden National is committed to the communities it serves, supporting a variety of businesses, community, and non-profit organizations.  The bank sponsors Community Spirit of Giving, a community outreach program that helps raise money to help area families in need at the holidays.  Over the past year, the bank has partnered with FAME on fifty-six loans totaling over $16 million. 

• Hon. Christopher W. Rector of Thomaston (Dirigo Legislative Champion):  Rector, state senator from Knox County, is co-chair of the 125th Maine Legislature’s Joint Standing Committee on Labor, Commerce, Research, and Economic Development.  He is a strong supporter of FAME’s mission of helping Maine people pursue business and educational opportunities.

Prior to the annual dinner event, FAME and the Maine Office of Securities hosted a day-long Financial Planning Conference for Maine Professionals with continuing education credits available.  Presenters included Joseph Hurley, founder and chief executive officer of Savingforcollege.com, an authority on college savings plans.  The conference was geared toward professionals such as accountants, attorneys, bankers, and financial advisors. 

The Finance Authority of Maine (FAME) will hold its annual meeting and awards event, Showcase Maine, on Tuesday, November 15, 2011, from 4:30 p.m. to 7:45 p.m. at Portland’s Holiday Inn By The Bay.

Showcase Maine is a celebration of the many successful partnerships FAME has forged over the years with Maine’s business and higher education communities. 

The evening will feature a reception, including exhibits by Maine businesses and educational organizations that partner with FAME; a dinner and awards presentation; and a keynote speech by Robert C. Doll, CFA, CPA.  Doll is the Senior Managing Director, Chief Equity Strategist, and Head of the U.S. Large Cap Series at BlackRock.  BlackRock is one of the world’s leading providers of investment advisory and risk management solutions.

“We look forward to celebrating the successes of the past year with our many partners in both the business and higher education sectors,” said Beth Bordowitz, FAME’s Chief Executive Officer.  “We know that people enjoy attending our showcase of Maine businesses and educational organizations, and it is a privilege for us to recognize some of the bright stars guiding Maine forward.”

In addition to the reception showcasing various Maine business and educational organizations, the evening will feature a dinner and awards presentation by FAME.  This year’s award recipients include: 

• Kepware Technologies, Inc. of Portland (Business at Work for Maine Award):  Kepware develops a wide range of communication and interoperability software solutions for the automation industry.  They are committed to strengthening Maine’s workforce by providing scholarships and internship opportunities for engineering students.

• STRIVE U (Education at Work for Maine Award):  STRIVE U provides post-secondary education and training to young adults with developmental disabilities in the realms of residential, employment, and community skills, with the goal of enabling its graduates to live and work as full community members with maximum independence and productivity.

• Camden National Bank (Financial Institution of the Year Award):  Camden National is committed to the communities it serves, supporting a variety of businesses, community, and non-profit organizations.  The bank sponsors Community Spirit of Giving, a community outreach program that helps raise money to help area families in need at the holidays.  Over the past year, the bank has partnered with FAME on fifty-six loans totaling over $16 million. 

• Hon. Christopher W. Rector of Thomaston (Dirigo Legislative Champion):  Rector, state senator from Knox County, is co-chair of the 125th Maine Legislature’s Joint Standing Committee on Labor, Commerce, Research, and Economic Development.  He is a strong supporter of FAME’s mission of helping Maine people pursue business and educational opportunities.

Prior to the annual dinner event, FAME and the Maine Office of Securities will be hosting a day-long Financial Planning Conference for Maine Professionals with continuing education credits available.  Presenters include Joseph Hurley, founder and chief executive officer of Savingforcollege.com, an authority on college savings plans.  Others will present at the conference, as well, which will be held at Portland’s Holiday Inn By the Bay.  The conference is geared toward professionals such as accountants, attorneys, bankers, and financial advisors.  To learn more about the conference and/or register, please visit:

http://archive.constantcontact.com/fs047/1102549409703/archive/1108097382456.html

The Finance Authority of Maine (FAME) is displaying the work of J. Donna Asmussen, a professional Maine artist specializing in watercolor, with additional focus in printmaking. 

FAME Chief Executive Officer Beth Bordowitz stated:  “FAME is pleased to recognize Donna and to help bring public attention to Maine artists.” 

A painter and printmaker, Ms. Asmussen works mainly from her home studio in Smithfield, Maine. Before becoming involved in the arts, she worked in education as a teacher, school administrator, and consultant for many years in Rhode Island and Maine.  She studied oil painting briefly in Rhode Island while a public school teacher there, and currently studies watercolor with Stan Keirstead in Western Maine and printmaking with Scott Reed at Colby College.     

Ms. Asmussen’s background in education has led her to partner with local schools and libraries, loaning them original works to encourage children to experiment with art.  A variety of her works can be viewed on her website at www.artjourneyer.com. 

Pieces currently displayed at FAME include watercolors and monoprints inspired by the ever-changing seasonal beauty of Maine, with a focus on her new work, a series of pen and ink images, washed with watercolor, capturing scenes from Belgrade Lakes and the Maine coast.

The public may view Donna Asmussen’s exhibition Monday through Friday from 8:00 a.m. to 5:00 p.m.  The FAME building is located at 5 Community Drive, Augusta, Exit 112 off I-95.  The exhibit is open to the public until mid-January 2012.  A reception is planned for Thursday, November 10 from 5 p.m. – 7 p.m.

To learn more about FAME art exhibits and openings or, if you are an artist who would like to have your work considered for exhibition, please contact FAME at 1-800-228-3734.

Items of interest for October 2011:

FAME Annual Showcase Maine

Financial Planning Conference for Maine Professionals

Fort Kids First: Future College Plan