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Recent News

FAME and MRDA Approve Saddleback Financing

FAME approved leveraged loan insurance of 20% (or $2.5 million) on a $12.5 million loan by Arctaris Impact Investors, LP to Saddleback Community Loan Fund. FAME additionally approved a $1 million FAME Direct loan to Arctaris as part of the financing package, which totals $2.5 million.

$60,000 Student Loan Repayment Program Helps Maine Recruit and Retain STEM Professionals

The Harold Alfond Foundation and the Finance Authority of Maine (FAME) opened another application cycle to provide student loan debt relief for Maine residents who are employed by a Maine-based business in the STEM-related fields of science, technology, engineering, and math. Applications are now being accepted through November 15, 2019.

FAME Board Visits Central Maine Businesses and Schools

As part of its ongoing efforts to immerse itself in the community and learn more about the needs and successes of their customers and partners, the board of directors and staff of the Finance Authority of Maine (FAME) recently toured parts of Kennebec and Somerset Counties.

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

For the fifth year in a row, the Finance Authority of Maine (FAME) has been recognized 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, the Maine State Chamber of Commerce, the Maine Department of Labor, the Maine Department of Economic and Community Development, and Maine HR Convention.

FAME to Target Adult Learners With New Maine State Grant Awards

The Finance Authority of Maine (FAME) plans to make a limited number of Maine State Grant awards to Maine’s adult learners who have not begun or completed their degrees thanks to new funding recently approved by the Maine Legislature and Governor Janet Mills.

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

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