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Recent News

FAME Financing to Assist Maine Veterans and Millinocket Library Renovation

At their June 20, 2019 monthly meeting, the board of directors of the Finance Authority of Maine (FAME) approved financing for two projects, one of which will help to provide care and support for Maine veterans while the other will help to renovate Millinocket’s local nonprofit library.

FAME promotes April as Youth Financial Literacy Month

Youth Financial Literacy Month is in full swing at the Finance Authority of Maine (FAME). Throughout the month of April, FAME’s College Access and Financial Education Team has been offering a variety of statewide initiatives and educational workshops intended to promote the importance of financial education to Maine citizens.

Up To $60,000 Student Loan Repayment for Maine STEM Professionals

The Alfond Leader program seeks to attract and retain STEM professionals in Maine. The fifth application cycle is open and will provide student loan debt relief for people living and working in Maine in STEM-related fields of science, technology, engineering, and math. Applications can now be accepted through May 15, 2019.

Claim Your Future® Enhanced by CollegeXpress®

FAME, in partnership with Carnegie Dartlet, recently launched a new college and scholarship search feature within the Claim Your Future (CYF)® website (claimyourfuture.com). CYF is a financial literacy game that teaches students about careers, higher education, and money management. The new feature connects students with the right higher education path and guides them to their career of choice.

FAME Launches Year-Long 20th Anniversary Celebration of Helping Maine Families Save for College with its Biggest Sweepstakes

The Finance Authority of Maine (FAME) announced today its $20,000 Invest in ME 20th Anniversary Sweepstakes – awarding its biggest scholarship prize ever – to kick off its year-long 20th anniversary celebration of helping Maine families save for college and other post-secondary education opportunities. One lucky Mainer will receive the $20,000 scholarship prize.[1] Entries will be accepted from January 20 to May 29, 2019. For official rules, visit NextGenforME.com/EntertoWin.

FAME Approves Financing for New Rumford Hotel

At their February 21, 2019 monthly meeting, the board of directors of the Finance Authority of Maine (FAME) approved 75% commercial loan insurance on a $4.1 million loan by First National Bank to Pennacook Falls Investments, Ltd. (PFIL) for the construction of a sixty-three-room Best Western Plus Inn and Suites in downtown Rumford. The project is expected to create approximately nineteen jobs and help meet growing area lodging needs.

Claim Your Future® – Engaging Students in Financial Education

Educators from Maine, Massachusetts and Illinois are giving their students’ future success a boost with Claim Your Future (CYF) – a financial literacy program that helps increase knowledge about higher education, careers, and money management.

FAME Approves Financing for Three Important Projects

At its December 13, 2018 board meeting, the members of the Finance Authority of Maine (FAME) approved financing for three separate projects that collectively are expected to help create and retain at least 700 Maine jobs. The projects range from renewable energy at Brunswick Landing to public infrastructure improvements in Westbrook to the re-start of the shuttered Old Town mill.

FAME Celebrates 35th Anniversary at “Showcase Maine” Event

Center for Generational Kinetics’ Alicia Rainwater Speaks The Finance Authority of Maine (FAME) celebrated thirty-five years of successful business and educational partnerships at its annual meeting and awards event, Showcase Maine, held this year on Thursday, November 15, 2018 at Portland’s Holiday Inn By The Bay. Showcase Maine is FAME’s annual celebration of its successful […]

FAME Board Visits Midcoast Businesses

The Board of Directors and staff of the Finance Authority of Maine (FAME) recently visited Front Street Shipyard in Belfast, a customer that has grown rapidly in recent years. The group later toured other customers at the Midcoast Regional Redevelopment Authority (MRRA) in Brunswick, which is located on the former Brunswick Naval Air Station base. […]

FAME and the Alfond Scholarship Foundation Launch Invest in ME Kindergarten Program

This year’s entering kindergarten class is special, most have received a $500 Alfond Grant for higher education. So FAME and Alfond Scholarship Foundation started the Invest in ME Kindergarten program which is designed to inspire Maine families to prepare early for future higher education, including saving. Over 50 schools are participating, including 11 school champions around the state. BrightFutureforME.com

FAME Approves Financing for Thompson’s Point Project

At its August 16 board meeting, the members of the Finance Authority of Maine (FAME) approved a direct loan totaling $495,000 to Forefront Commons I, LLC, to help renovate an historic former rail building as part of a larger construction project at Thompson’s Point in Portland. FAME’s action is expected to help create and retain […]

FAME Recognized for Fourth Straight Year as a Best Place to Work in Maine

For the fourth year in a row, the Finance Authority of Maine (FAME) has been named as one of the Best Places to Work in Maine. The awards program, created in 2006, is a project of the Society for Human Resource Management–Maine State Council (MESHRM) and Best Companies Group. Partners endorsing the program include: Mainebiz, […]

FAME Approves Financing for Aroostook Lumber Mill

FAME has approved 90% loan insurance on a loan by TD Bank totaling $944,000 to Maibec USA LLC. Funds will be used for the purchase of a feed conveyor deck and de-barker machine for mill operations in the town of Masardis. The venture is expected to help retain 145 Maine jobs and bring operational efficiencies to the mill.

FAME Celebrates Another Successful Year at “Showcase Maine” Event

The Finance Authority of Maine celebrated another year of successful partnerships with Maine’s business, lending, governmental, and higher education communities at its annual event, “Showcase Maine.” The evening featured a reception, including a showcase of exhibits by Maine businesses and educational organizations that partner with FAME; a dinner and awards presentation; and a keynote speech by former United States Senator George Mitchell.

Harold Alfond Foundation & FAME Announce Inaugural Alfond Leaders

The Harold Alfond Foundation and the Finance Authority of Maine (FAME) have announced the first cycle of Alfond Leader awardees, who collectively will be awarded up to $685,000 in student loan debt relief. The competitive program provides student loan repayment assistance to people who live and work in Maine in a Science, Technology, Engineering and Math (STEM)- designated occupation at a Maine-based employer. The selected Alfond Leaders may receive up to half of their outstanding student loan balance, not to exceed $60,000, as a loan repayment on their outstanding student loans.

FAME Recognized for Third Straight Year as a “Best Place to Work in Maine”

For the third year in a row, the Finance Authority of Maine (FAME) has been named as one of the Best Places to Work in Maine. The awards program, created in 2006, is a project of the Society for Human Resource Management–Maine State Council and Best Companies Group. Partners endorsing the program include: Mainebiz, the […]

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