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FAME News

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 […]

FAME Approves Financing for Belfast Boat Manufacturer

FAME approves loan insurance for Dubba, LLC for land purchase and construction of new boat manufacturing and maintenance facility located at 101 Front Street, Belfast. The company has plans to engage in new technology and enter new markets as it expands. The proposed expansion is expected to create forty new jobs and retain an additional eighty-four jobs.

FAME Announces Expanded Online Insurance

Beginning April 1, 2017, FAME lender partners can opt for up to $750,000 in loan insurance through FAME’s OnLine Answer (OLA). Lenders can process applications for loan insurance on OLA, FAME’s secure web application, and receive a decision in seconds. This expansion allows lenders to use the OLA system instead of applying for larger exposure loans through FAME’s traditional paper application. This is the fourth and largest loan insurance enhancement FAME has launched in the past six months in response to extensive customer feedback actively sought by the agency.

FAME Approves Financing for Beal College Nursing Program

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.