Finance Authority of Maine

A roundup of new hires, promotions and achievements at businesses, nonprofits, health care operations and professional services firms in Maine.

An initiative of the Maine Department of Economic and Community Development and the Finance Authority of Maine, the network hosts public, nonprofit and alternative funding and counseling agencies. The centralized platform is designed to help borrowers navigate the options.

Before joining FAME, Charlotte Mace served as director of the Office of Business Development at the Maine Department of Economic and Community Development.

Now in its fourth year, the Mainebiz 40 Under 40 program recognizes the state's up-and-coming leaders, the next generation of individuals who are shaping Maine and its economy. 

The one-stop portal has connected 600 Maine businesses with over 1,600 matches to public and nonprofit financing options and no cost business guidance.

Newcastle-based Singing Pastures plans to use its $25,000 prize money to fund a new website ahead of a rebrand and expansion.

FAME's new board members have leadership expertise in government, education and banking.

Currently operating with 54 employees, the insulation manufacturer is seeking to lessen its debt via a voluntary, pre-negotiated Chapter 11 reorganization plan filed in U.S. Bankruptcy Court in Delaware.

Once fully operational, the plant could provide up to 83 full-time jobs plus 92 in the forestry and transportation supply chains.

The Maine Funding Network, which launched last year, includes nearly two dozen public financing and advisory organizations that can help Maine businesses find alternate business funding, writes guest columnist Jonathan Poole of FAME.