Finance Authority of Maine

The Finance Authority of Maine (FAME) operates as the state's business finance agency, providing essential financial solutions across various sectors. It facilitates economic development by offering a suite of programs including direct loans, loan insurance, and tax credits, which are instrumental in supporting business startups, expansions, and growth initiatives. FAME also assists students and families in meeting educational expenses through grants and scholarships, working in collaboration with local financial institutions to expand access to critical funding.

FAME was established in 1983 by the Maine Legislature through the enactment of the Finance Authority of Maine Act. This legislative action was driven by an understanding of the need for a dedicated entity to stimulate and support Maine's economy. The authority was specifically charged with creating a mechanism to bridge financing gaps and foster robust economic activity within the state.

The agency primarily serves Maine businesses, entrepreneurs, residents, and students, acting as a crucial partner in their financial journeys. FAME's overarching mission is to enrich both business and educational outcomes for Maine's people through the provision of timely and relevant financial support. Its vision centers on promoting sustained economic prosperity and opportunity throughout the state.