FAME OKs financing for three companies
The Finance Authority of Maine has approved financing arrangements for three Maine borrowers, which the state agency says will support 171 jobs in the state.
According to a press release, FAME approved financing for Isherwood Enterprises Inc., doing business as Custom Coach and Limousine; co-borrowers Mega Industries Realty LLC and Mega Industries LLC; and co-borrowers Rood Enterprises LLC and B&B Precise Products Inc.
For Custom Coach and Limousine, which operates a fleet of over 45 vehicles, the state authority approved insurance for a loan the company has with Camden National Bank, lowering the cost of the company's debt.
For Mega Industries, FAME provided a direct loan of $180,000 through its Economic Recovery Loan Program. The loan will help expand the company's Gorham facility, where it makes microwave components for scientific, military and commercial applications.
For B&B, FAME will insure three separate loans from Androscoggin Bank that the company says will serve as working capital and buy two new machines for its Benton manufacturing facility.
Read more
Gorham manufacturer acquires N.H. company as part of 'aggressive growth strategy'
Most Recent
Most Recent
Comments