About FAME

CEO's Message

Welcome to FAME’s Web site.  We hope you find the information useful to your business and educational needs.  For over twenty-six years, FAME has provided innovative financial solutions to help Maine people and businesses succeed.  In today’s rapidly changing global economy, businesses need a well-educated workforce as well as adequate capital.  FAME offers financial solutions that help Maine people obtain a higher education and Maine businesses prosper to make our state a better place for all. 

Please let us know what parts of our Web site are most helpful and if you would like any additional information.

Elizabeth Bordowitz, Chief Executive Officer

Beth Bordowitz was appointed by Governor John E. Baldacci in 2009 to serve as Chief Executive Officer.  She has been with FAME since 1989, most recently as General Counsel.  Prior to joining FAME's legal division in March 1989, Beth was associated with a Portland law firm.  She holds a B.A. and M.A. in Political Science from Rutgers College and Rutgers University, respectively, and is a graduate of Rutgers School of Law - Camden.

FAME's Mission

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

FAME's Background

FAME was established as Maine's business finance agency in 1983 and charged with supporting the start up, expansion and growth plans of Maine's business community.  The agency began working closely with Maine's lending community to improve access to capital as well as to help fill gaps that exist in the State's capital delivery system.

To meet the financing needs of Maine's business community, FAME offers a wide array of business assistance programs, ranging from traditional loan insurance programs for both small and larger businesses, to tax credits for investments that individuals make in dynamic, growth-oriented, manufacturing or export-related firms. FAME has also established taxable and tax-exempt bond financing programs that allow strong, creditworthy firms in Maine to access capital at very favorable rates and terms. 

In April of 1990, FAME's mission was significantly expanded when the agency assumed responsibility for administering the State's higher education finance programs. Through a variety of loan, grant and scholarship programs, FAME helps Maine students and families meet the costs associated with higher education. To aid in this important effort, FAME also oversees an extensive outreach and counseling program that is designed to encourage young people to aspire to and pursue higher education. 

FAME is committed to innovative, flexible solutions that address the needs of Maine individuals and companies in a changing economic landscape. With a core competency in finance, and a highly experienced staff, FAME is the place to turn to for resources that build success.

FAME's Board Members

The Finance Authority of Maine is overseen by a fifteen member Board of Directors that has the following makeup:

• Two members with experience in natural resource based enterprises
• Two veterans
• One member knowledgeable in the in the field of student financial aid
• One member knowledgeable in the field of higher education
• One certified public accountant
• One commmercial banker
• One attorney
• Three members-at-large
• Three State members to include the Commissioner of the Department of Economic and Community Development, a natural resource commissioner and the State Treasurer

Members of the FAME board are appointed by the Governor and are subject to review and confirmation by the State Legislature.  Each member, other than the State members, serves for a term of four years.  The Authority's Chief Executive Officer is appointed by the Governor, subject to review and confirmation by the Maine State Legislature, to supervise and direct the administrative and technical activities of the Authority on a day-to-day basis.

Susan Snowden - Chair

Cheri Walker - Vice Chair

Principal
Albin, Randall & Bennett
Portland, Maine

Patrick Murphy - Treasurer

President

Pan Atlantic SMS Group

Portland, Maine

Reis Hagerman

Vice President of Enrollment Management

Saint Joseph's College

Standish, Maine

Raymond Nowak

President & CEO

Farm Credit of Maine, ACA

Auburn, Maine

Anthony Armstrong

President

Maine Home Mortgage Corp. and Properties Northeast, Inc.

Cape Elizabeth, Maine

Patrick Keliher

Commissioner

Department of Marine Resources

Augusta, Maine

Rosaire Pelletier

Senior Forest Advisor/Consultant

Madawaska, Maine

George Gervais

Commissioner

Department of Economic and Community Development

Augusta, Maine

Glenn Lamarr

Vice President

Neria Douglass

Maine State Treasurer

Augusta, Maine

Michael Mahoney

Federle Mahoney

Hallowell, Maine

Larry Mitchell

Col USMC (Ret.)

Winslow, Maine

Evelyn Silver, PhD

Consultant

Dedham, Maine

Christopher Pierce

Veteran/
Retired Executive
Cumberland, Maine

FAME staff information can be found on the Contact Us page of this Web site.