FAME News

FAME Celebrates Successful Partnerships at “Showcase Maine” Event

In-person event returns after two-year hiatus AUGUSTA — 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. Showcase Maine is FAME’s annual celebration of its successful partnerships with […]

First-ever Free, Virtual, On-demand Financial Education Training being Offered to Maine Educators

Course Designed to Improve Personal Financial Knowledge for Maine Youth  AUGUSTA– Maine has received a “B” from the Nation’s Report Card on Financial Literacy, which suggests that at least some of our graduating students lack basic financial knowledge, such as the importance of saving for a rainy day, or even opening a bank account. Being unprepared poses […]

Governor Mills Announces $120 Million Initiative to Support Maine Small Businesses

Thrive Maine will offer $58 million in forgivable loans for Maine small businesses Grow Maine will offer $62 million in direct loans, commercial loan insurance, and equity investments for Maine small businesses AUGUSTA– Governor Janet Mills recently announced a $120 million initiative to support Maine small businesses. The initiative features two separate programs: Thrive Maine […]

This Financial Literacy Month, FAME Promotes Financial Wellness Opportunities for Maine People

 Financial instability can lead to feeling stressed, and stress, especially over time, can have a negative impact on our overall health and well-being. The Finance Authority of Maine (FAME) has solutions. tTo support Mainers on their path toward financial wellness, FAME recently launched an Employer Financial Wellness Roadmap and continues to support online financial wellness for all Maine people through an innovative tool powered by Enrich.

FAME Approves Financing for Fork Food Hub, L3C

FAME financing will help Fork Food Labs cooperative to relocate to South Portland and provide larger commercial space for its members’ needs. AUGUSTA — At its monthly meeting on March 17, 2022, the board of directors of the Finance Authority of Maine (FAME) approved 90% pro rata loan insurance on a $3.6 million commercial real estate […]

FAME Honors Maine Businesses, Educators, and Lenders

Annual “At Work” Awards Bestowed Virtually Although FAME did not host its annual Showcase Maine event in person this year, it bestowed the annual “At Work for Maine” awards virtually. FAME presented the awards to business, lending, and higher education partners in order to recognize their meaningful contributions to the state. Video profiles of each […]

Over 28,000 Maine Public Elementary Students to Receive Free Books from FAME to Help Build Financial Skills for Life

In recognition of October as Financial Planning Month and 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 value of choice.

FAME Doubles Commercial Loan Insurance Online Answer Limit

The Finance Authority of Maine (FAME) recently doubled the limit on applying for commercial loan insurance through the online answer (OLA) process. The online answer process allows a lender to apply and receive an immediate answer. The limit was previously up to $750,000 for commercial loan insurance.  The new limit allows lenders to easily and quickly submit applications for commercial loan insurance up to $1.5 million.

Increased Maine State Grant Funding Still Available for this Academic Year

Good news on three fronts for Maine students planning to attend college this fall: Maine State Grant funds remain available and awards have been increased! Also, for students who missed the Maine State Grant filing deadline of May 1, the Finance Authority of Maine (FAME) has extended the deadline for this academic year.

FAME Approves Financing for MedRhythms, Inc. and Vertical Harvest, L3C

At their July 15, 2021 meeting, the board of directors of the Finance Authority of Maine (FAME) approved state new markets tax credit financing to benefit MedRhythms, Inc., a digital therapeutics company located in Portland. The board also approved bond financing for Vertical Harvest, L3C, a company planning to operate a vertical hydroponic greenhouse in Westbrook.