At its March 16, 2017 monthly board meeting, the Finance Authority of Maine (FAME) approved direct loan financing for Beal College of Bangor to help the institution establish a new school of nursing. Scheduled to begin in the Fall of 2017, the new program seeks to address the expected workforce shortage of nurses in Maine in the coming years. In a strategic partnership with the college, Eastern Maine Medical Center will donate the equipment necessary to set up a nursing lab at the school, and will provide clinical rotations for students and classroom space as needed.

The Harold Alfond Foundation has unveiled “Alfond Leaders,” a statewide student loan debt relief program for Maine residents working in the STEM-related fields of science, technology, engineering and math and employed by a Maine-based business. The program offers up to $60,000 of debt relief per recipient and will be awarded through a competitive application process to approximately 150 Alfond Leaders over the next three years.

At its monthly meeting on January 19, 2017, the FAME Board approved financing for Husson University; Thornton Academy; MaineHealth; and LifeFlight of Maine, LLC. The move will help to improve the general health and well-being of Maine students and businesses.

The Finance Authority of Maine (FAME) recently approved financing for Casco Bay Vending of Lewiston to acquire the two largest vending operations in Maine, Canteen Service Company of Bangor, and the vending division of Pine State Trading Company of Gardiner. The acquisition will help to retain 115 existing jobs in Maine and will make Casco Bay Vending the largest vending operation in the state.