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The Maine Loan from FAME

It’s the smart way to bridge the gap between financial aid and tuition costs. Learn how the Maine Loan can help.
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FAME’s Business Roadmap outlines key steps in the planning and financing process, and provides tools, resources, and partners that can help you along the way.
Business Roadmap

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Recent News

FAME Selects Vestwell State Savings and Other Partners to Help Manage NextGen 529

The Finance Authority of Maine (FAME) has approved the selection of the following program management service providers to help manage the NextGen 529 plan going forward: Vestwell State Savings, LLC as Program Manager; BlackRock Advisors, LLC as Investment Manager; BlackRock Investments, LLC as Primary Distributor of the Client Select Series; and Bank of New York Mellon as Custodian.

Notice of Public Hearing

Notice is hereby given that York County Community Action Corporation has submitted an application to the Finance Authority of Maine (the “Authority”) pursuant to 10 MRSA §1063, requesting a Certificate of Approval with respect to the proposed issuance of Revenue Obligation Securities by the City of Sanford, Maine for the following purposes: ​BOND ISSUER:​ City of Sanford […]

Request for Proposals: Marketing Communications Agency

FAME is seeking the services of a full-service marketing firm to serve as its marketing agency. The deadline for responses is 1:00 pm ET on Thursday, June 8, 2023. The deadline for all questions related to the RFP is May 25, 2023, at 5:00 pm ET.

FAME to Launch Second Cycle of Thrive Maine on May 23, 2023

$29 million in forgivable business loans ranging from $10,000 – $500,000 AUGUSTA–-The Finance Authority of Maine (FAME) is pleased to announce that the Thrive Maine program, which offers forgivable loans to eligible Maine small businesses negatively impacted by the pandemic, will launch its second application cycle on May 23. The application period will remain open until June […]

May is 529 Month

NextGen 529® Offers Significant Benefits to Maine People and is a Leading Plan in the Nation  AUGUSTA—May is 529 month, which is a great time to remind Maine people of NextGen 529’s many robust benefits.  The Finance Authority of Maine (FAME) administers NextGen 529, providing an opportunity for investors, including Maine residents, to save for […]

Request for Proposals: Web-based Business Funding Portal

The Finance Authority of Maine is seeking a SaaS platform to host its conceptual, Web-based Business Funding Portal. The mission of the portal is to improve the experience of Maine business owners seeking funding by providing a central intake platform, common application, and automated lender matching. The deadline for responses is 11:59 pm EST on […]

FAME Offers Resources to Educate Mainers During Financial Literacy Month

One in Three Mainers Believe They Have Too Much Debt Augusta – According to the 2021 National Financial Capability Study conducted by the FINRA Investor Education Foundation®, thirty percent of people in the United States are feeling financially fragile and one-third of Mainers believe they have too much debt. To help, the Finance Authority of […]

Notice of Public Hearing

NOTICE OF PUBLIC HEARING AND OPPORTUNITY TO BE HEARD REGARDING PROPOSED TAX‑EXEMPT BOND ISSUANCE BY THE FINANCE AUTHORITY OF MAINE TO FINANCE AND REFINANCE ELIGIBLE STUDENT LOANS AND TO REFUND CERTAIN OUTSTANDING BONDS OF THE AUTHORITY. The Finance Authority of Maine (the “Authority”) proposes to issue up to $30,000,000 in aggregate principal amount of its […]

FAME Loan Insurance Assists Kingfish Maine, Inc. Aquaculture Facility in Washington County

MAC Financial of Waterville also approved for direct loan AUGUSTA — At its monthly meeting held on February 16, 2023, the board of directors of the Finance Authority of Maine (FAME) approved loan insurance financing for Kingfish Maine, Inc., an aquaculture company based in Franklin with plans to construct a land-based facility in Jonesport. FAME […]

Updated Notice of Public Hearing

The members of the Board of the Finance Authority of Maine (FAME) will meet at 9:00 a.m. on Thursday, February 16, 2023.  This will be an online meeting via Zoom only.  Members of the public can participate by conference call. As of February 3, 2023 action items to be considered are as follows (1) Loan […]

FAME Financing to Assist Augusta Precision Tool Manufacturer

AUGUSTA — At its monthly meeting on November 17, 2022, the board of directors of the Finance Authority of Maine (FAME) approved a $1.2 million term loan for KV Tooling Systems, LLC, a precision tool manufacturer located in Augusta. The funds are comprised of a $600,000 FAME Direct Loan and $600,000 from the Grow Maine Program, which FAME […]

FAME Board Elects Officers for 2022-2023

On November 17, 2022, the FAME Board of Directors elected new officers for 2022-23. Their terms will run from November 2022 through November 2023.

FAME Celebrates Successful Partnerships at Showcase Maine

The Finance Authority of Maine (FAME) celebrated successful business and educational partnerships at its annual meeting and awards event, Showcase Maine. Held this year on Thursday, November 17, 2022, at Portland’s Holiday Inn By The Bay, it was the organization’s first in-person Showcase Maine event in two years. The evening featured a reception, including a showcase of exhibits by Maine businesses and educational organizations; dinner and awards presentations; and entertainment by comedian Juston McKinney.

Request for Proposals: Loan Origination Services for FAME’s Private Education Loan Program

FAME is requesting proposals to secure innovative, high-quality, efficient, and cost-effective origination solutions for a $68 million alternative student loan portfolio consisting of The Maine Loan® and The Maine Medical Loan® in accordance with applicable federal and state statutes and regulations.  Annual new originations average $13 million.

Over 42,000 Students to Receive Free Books from FAME to Promote Lifelong Financial Wellness

As part of its continuing efforts to strengthen financial capability in Maine, the Finance Authority of Maine (FAME) has once again partnered with the Consumer Financial Protection Bureau (CFPB) to offer Invest in ME Reads, a program to support family financial education by empowering families to engage in conversations about future goals, saving money, and the […]

First Free, Virtual, On-Demand Financial Education Training Offered to Maine Educators

In partnership with Maine Jump$tart Coalition for Personal Financial Literacy and its sponsors; Finance Authority of Maine (FAME); the Office of the Maine State Treasurer; and Next Gen Personal Finance (NGPF), the Center for Financial Literacy at Champlain College is offering free online and on-demand training for Maine teachers. The Financial Educator Virtual Academy will train Maine educators on how to successfully teach personal finance in their classrooms and communities.

Governor Mills Announces Opening of “Thrive Maine” Program to Support Small Businesses

Governor Janet Mills announced that the Finance Authority of Maine (FAME) will begin accepting applications for $58 million in forgivable small business loans through the “Thrive Maine” initiative of her Maine Jobs & Recovery Plan starting next Tuesday, October 4. Under the program, eligible Maine small businesses who experienced losses, increased costs, or market interruptions as a result of the pandemic may receive a forgivable loan of up to $2 million if selected. Awardees that follow program terms may have their loans fully forgiven over a four-year period.

For Educators

Check out FAME’s free training opportunities such as webinars and training events for school counselors, college access advisors, financial aid counselors and administrators.

Resources for Educators