APRIL 2022 • IN THIS ISSUE
Recent Partnerships
FAME Staff Spotlight
New Feature for Startups and Entrepreneurs: Business Roadmap
In the News:
- GO Lab, Inc.
- Great Works Internet Partners
- Saddleback
- Fork Food Lab
Two New Programs to Come
Bonus Programs to Share with Your Colleagues & Customers:
- Free Community College
- Financial Check-In with FAME Education
- Employer Financial Wellness Roadmap
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FAME Staff Spotlight
Caroline Saban, Digital Marketing Specialist
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Caroline Saban joined the business team in November 2021 as a Digital Marketing Specialist.
Caroline is excited to bring her experience and energy to FAME and our mission of helping Maine businesses grow and Maine families afford higher education.
She has experience in marketing and business, previously working as the Marketing Director at the Kennebec Valley Chamber of Commerce. She graduated with a degree in Communications from the University of New England. FAME benefits from her B2B marketing experience as she has added a new perspective on how FAME can reach Maine businesses. She currently manages our social media process, business marketing, and assists with NextGen 529 marketing.
Caroline is also part of a mother/daughter team at Hoang Realty and was named the "Rookie of the Year for 2021" at their office. She also serves on the board of directors for the Augusta Colonial Theatre where she pulls extra duty as the chair of the communications committee. We are lucky to have her!
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Business Roadmap
This resource helps entrepreneurs and start-ups prepare for financing and the marketplace
FAME recently launched a Business Roadmap to help new business owners and entrepreneurs navigate the financial challenges of starting and building their business. FAME does not provide business counseling or hands-on help to the companies, but the roadmap provides information about the Maine organizations that do. The Business Roadmap outlines key steps in the business planning and financing process, which helps Maine business owners become more financially capable.
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WABI—GO Lab Inc. holds groundbreaking ceremony for new manufacturing facility in Madison
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Penobscot Bay Pilot—Belfast coordinates with GWI, Arctaris Investors and FAME to build high-speed internet connectivity to residents and businesses |
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Mainebiz—New financing help from FAME will support improvements at Saddleback
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Mainebiz—FAME backs $3.6M loan for Fork Food Lab move to South Portland |
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New Programs Preview
Through federal and state funding, FAME will launch two new programs this year.
1. Under Governor Mills's Maine Jobs and Recovery Plan, FAME will administer a new program funded by the American Rescue Plan Act for Maine businesses impacted by the COVID-19 pandemic. Eligible businesses include:
- Maine businesses that experienced shut-down periods due to COVID-19 regulations which in turn have resulted in lost revenue, increased cost and/or decreased operational profitability.
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Maine businesses that experienced increased expenses to remain compliant with required COVID-19 safety protocols.
- Maine businesses that experienced an inability to fulfill demand from their clients, as national and global logistical issues continue to arise as production of goods are hindered by the global pandemic.
More details and information on how to apply will be available soon.
2. The State Small Business Credit Initiative (SSBCI) is a U.S. Treasury program resulting from the passage of the American Rescue Plan Act of 2021. FAME will administer this new version of SSBCI. This program will expand access to capital for small businesses emerging from the pandemic, build ecosystems of opportunity and entrepreneurship, and create high-quality jobs. The types of financing include commercial loan insurance, direct lending, and equity capital. More details and information on how to apply will be available soon.
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Bonus Programs to Share with Your Colleagues and Customers |
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Free College at Maine’s Community Colleges
Maine’s community colleges are now offering up to two years of tuition-free college to all high school graduates from 2020-23 under the new Free College initiative funded in the supplemental budget signed by Governor Janet Mills. To qualify for the Free College Scholarship, students must have a high school diploma or equivalent from 2020-23, enroll full-time in an associate degree program or one-year credential, live in Maine while enrolled, and accept all federal and state grants, scholarships and other funding sources. Before applying to one of state's community colleges, eligible students must file a FAFSA. For more information on and assistance with filing the FAFSA, visit FAMEmaine.com/fafsa
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Once-A-Month Webinar Series: "Financial Check-In with FAME Education"
FAME's new FREE monthly webinar series is for anyone looking to learn more about preparing and paying for higher education, including refinancing student loan debt. The next webinar is on May 13th at noon, "Understanding Public Service Loan Forgiveness and the Temporary Waivers." See webinar topics and registration info.
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Employer Financial Wellness Roadmap
Let FAME help you help employees become financially well
FAME’s new Employer Financial Wellness Roadmap provides a step-by-step guide to employers who may be interested in offering financial wellness programs to their employees. The roadmap provides evidence for why employee financial wellness is so valuable in improving employees’ lives, and in turn, the overall success of an organization. The roadmap includes resources, best practices, technical support, and research to guide development and implementation, including an overview of FAME’s employee financial wellness program.
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Roxanne Broughton
Commercial Loan Officer
620-3547
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Matthew Lindquist
Commercial Loan Officer
620-3527
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Karen Kunesh
Workout Officer
620-3532
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Kim Getchell
Commercial Loan Officer
620-3507
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Jennifer Cummings
Dir. Business Programs
620-3531
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207-623-3263 or 1-800-228-3734
TTY: 207-626-2717
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2015 • 2016 • 2017 • 2018 • 2019 • 2020 • 2021
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The Finance Authority of Maine (FAME) does not discriminate in the administration of any of its programs or in its employment practices on the basis of race, color, national origin, age, gender, religion, physical or mental disability, political affiliation, marital status or sexual orientation. FAME is an equal opportunity employer, provider and lender.
FAME provides links to other websites as a convenience and does not endorse or guarantee the content, accuracy or usability of such sites.
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