JANUARY 2025

Business eNews

In This Issue

• Happy New Year! What's Ahead in 2025
• NEW! Expedited Processing for Commercial Loan Insurance
• Coming Soon: FAME Fee Calculator
• In the News: Maine Funding Network
• A Win-Win: Maine Seed Capital Tax Credit Program
• FAME Unveils New Strategic Plan
• Showcase Maine Recap
• Recent FAME Board Appointments

HAPPY NEW YEAR!

What's Ahead in 2025

Trainings and Workshops

Attend our FREE workshops intended for commercial loan officers, commercial loan assistants, analysts, government banking specialists, and those who work with FAME’s OLA platform.

What to expect:

• Learn how to leverage FAME programs to build your relationships with commercial loan customers.
• Follow a step-by-step enhanced Online Answer (OLA) platform training, from input to follow-up.
• Enjoy a networking lunch with FAME staff and your peers.
• Learn about the Maine Funding Network, the gateway to alternative funding for Maine businesses.

We'll come to you!

Can't make it to a training or workshop? We'll come to you! Call us about on-site customized training for your organization.

Trade Shows and Conferences

Come see us out and about at:

Maine B2B Trade Show

March 27

Norway Savings Bank Arena, Auburn

NEW! Expedited Processing for Commercial Loan Insurance

FAME has increased its internal loan insurance approval limits to better support your needs. Here are the new limits:

• For deals with exposure of up to $1.5 million, use our Online Answer (OLA) system for an instant answer.
• FAME staff can now approve deals with FAME exposure of up to $2.5 million.*
• The FAME Business Committee meets weekly to review deals with exposure of $2.5–$3 million.*
• Requests involving FAME exposure exceeding $3 million will require board approval.*

*Includes aggregate CLI exposure; some conditions may apply.

These new limits are live and available now, and we're here to help you every step of the way. Please reach out to us with any questions, transactions you wish to discuss, or to set up personalized trainings for your organization. Call us at 207-623-3263 or 800-228-3734 (TTY: 207-626-2717), option 1; or email us at Business@FAMEmaine.com.

Coming Soon: FAME Fee Calculator

In addition to more efficient, expedited processing for commercial loan insurance, you also told us you'd us you'd like an online fee calculator to obtain instant and accurate calculations, eliminating confusion and streamlining the lending process.

Whether you're evaluating loan options or finalizing deals, our new user-friendly fee calculator provides the clarity and ease necessary to make informed decisions with confidence. Watch your inbox for launch date!

In the News

A Win-Win: Maine Seed Capital Tax Credit Program

Created over 30 years ago to encourage innovation and entrepreneurship, the Maine Seed Capital Tax Credit Program helps attract equity investment in Maine startups by providing investors, both individuals and venture funds, a tax credit equal to 40% of their investment in a Maine based startup.

Get more details on the program, including eligibility, terms, reporting requirements, and how to apply:

FAME Unveils New Strategic Plan

We are pleased to share our renewed core principles that guide FAME's work. Our mission and vision support us in creating statewide opportunities for prosperity and progress. We aim for every individual and business in Maine to thrive through improved economic conditions and educational achievements. To that end, we provide essential financial resources that drive growth and success, acting as a catalyst for meaningful change. Our core values of excellence and integrity guide all our actions.

Showcase Maine 2024

FAME celebrated another year of business and education success stories and partnerships at its annual meeting and awards event, Showcase Maine, on Thursday, November 21, 2024, at South Portland’s Portland Sheraton at Sable Oaks.

Learn more about our 2024 At Work for Maine award winners.

Recent FAME Board Appointments

On Thursday, November 21, 2024, the FAME board of directors held its monthly meeting. New officers were elected to one-year terms. Officers elected for 2025 include:



• Renee Ouellette, President & CEO of University Credit Union (Chair)
• William Tracy, President & CEO of Auburn Savings Bank (Vice Chair)
• Dustin Brooks, Vice President of Marketing Strategy, UNUM Group (Treasurer)

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