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FAME News

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.

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 $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. Governor Janet Mills recently announced a $120 million initiative to support Maine small businesses. The initiative features two separate programs: Thrive Maine and […]

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.