e-news update | spring 2019
Spring flowers
IN THIS ISSUE
  • FAME Board Approves Financing for Hotel Construction in Rumford

  • FAME Staff Spotlight: Jennifer Cummings, Director of Business Programs

  • The End of an Era: Charlie Emmons Announces Retirement

  • OLA News: Insurance Percentage Increased to 75%

  • FAME Kicks Off Commercial Webinar Series

  • Join Our Team! FAME Seeks an Experienced Commercial Loan Officer
Elevations: Best Western Rumford
FAME Board Approves Financing for New Hotel in Rumford

At their February 21 meeting, the FAME board of directors approved commercial loan insurance on a $4.1 million loan by First National Bank to Pennacook Falls Investments, Ltd. (PFIL). The loan is for the construction of a 63-room Best Western Plus Inn and Suites in downtown Rumford. The project is expected to create approximately nineteen jobs and help meet growing area lodging needs.

Jennifer Cummings
FAME STAFF SPOTLIGHT:
Jennifer Cummings,
Director of Business Programs

FAME's new Director of Business Programs, Jenn Cummings, first joined the FAME team back in 2013, serving as Senior Workout Officer. In her new role, Jenn looks forward to building upon FAME’s relationships with Maine lenders to provide a variety of valuable options to promote funding choices that are useful through the business life cycle. Jenn notes, "Our lending team is strong and experienced, and we are all here to help our banking partners and their customers get to ‘yes.’ FAME will continue to be a component of economic growth in our state, and I am excited to be a part of that effort."

She enjoys the flexibility FAME provides its banking partners and direct loan borrowers when they need assistance in their loan repayment options. Because of its commitment to Maine's economic growth, FAME allows and encourages outside-the-box thinking when it comes to restructuring loans for borrowers who are going through difficulty. As Director of Business Programs, Jenn oversees commercial lending and the workout process.

Jenn grew up in Windsor, Maine, and currently lives in Augusta with her husband Bruce, and their two daughters, Grace, 7, and Nora, 2. When not at work, Jenn enjoys spending time outside with her family, skiing, and going to their camp. She can also be found competing at local Crossfit competitions and is a Crossfit Trainer.

Jenn is a graduate of Maine Maritime Academy with a BS in International Business and Logistics. She earned her MBA from Thomas College.

Charlie Emmons
The End of an Era: Charlie Emmons Retiring

On June 30, 2019, after nearly 16 years at FAME, Director of Commercial Lending, Charlie Emmons, is retiring.

Though he's originally "from away," Charlie and his wife plan to stay in Maine, where they've made their home for the past 17 years and where they'll be close to their three children, five grandchildren, and five grand-dogs. Charlie plans to spend some time at Squam Lake in New Hampshire, and once he tires of all the kayaking and hiking, he says he's likely to look for another opportunity, preferably one like FAME with a focus on public benefit.

We wish Charlie all the best in his well-deserved retirement!
FAME Increases OLA Insurance Percentage Effective March 1, 2019

In January, the FAME business team approved an increase to FAME's OnLine Answer Program for Commercial Loan Insurance. Applicants using the OLA platform may now apply for up to 75% insurance on loans of up to $750,000 FAME exposure.

FAME Kic ks Off Commercial Webinar Series
On February 5, FAME Commercial Loan Officer Roxanne Broughton kicked off FAME's Commercial Webinar Series with her webinar on Leveraged vs. Pro-Rata Loan Insurance. If you missed the live webinar, you can still watch (and download resources) here.

Have ideas for future webinar topics you'd like to see? Let us know! Email your requests to:
2018 Best Places to Work in Maine
Help Maine People Reach Their Business Goals—Join Our Team!

A "Best Places to Work in Maine" employer for four years in a row, FAME is seeking an experienced Commercial Loan Officer to join its Commercial Lending team. The Commercial Loan Officer will analyze credit requests and negotiate with lenders and borrowers to properly structure loan requests, present these loan requests to the appropriate staff and/or boards, and make recommendations for action. This role also assists in the development and implementation of new programs and the marketing and promotion of new and existing products & services.

For requirements and application information, please visit FAMEmaine.com .
Contact Us
The Finance Authority of Maine | FAMEmaine.com
207-623-3263 or 1-800-228-3734
TTY: 207-626-2717
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