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V O L . X X X I N O. X X V I I D E C E M B E R 1 , 2 0 2 5 24 B A N K I N G / F I N A N C E / I N S U R A N C E F O C U S 'Pathway to growth' Jonathan Poole and Charlotte Mace, FAME's COO and director of business, respectively, were work- ing at the Department of Economic and Community Development during the pandemic, when they were helping businesses find and navigate public and nonprofit busi- ness's support programs. "ere were conversations: 'Wouldn't it be great if there were kind of a front door where people can be connected with these agencies?'" Poole recalls. FAME made an initial investment and ongoing annual funding commit- ment to advance the idea, working with the state Department of Economic and Community Development and a core group of agencies and procuring a software company to develop the plat- form. Initially launched in the spring of 2024 with 16 member organizations, the network now numbers 24 funding members that have supported around $500,00 in lending. Word is getting out through social media, advertising, events and word of mouth, says Poole. "For businesses, this was a path- way to growth and stability that they would otherwise never have been able to access," Poole says. "I think it's been pretty successful in increasing awareness and connecting businesses to partners." Finding options So far, over 800 businesses have regis- tered with the network, most of them small operations with at most a hand- ful of employees, either just getting started or entering a growth phase. e network is designed to support all types of businesses, including high- growth startups, business from out- of-state looking to move to Maine and large-scale businesses. One new Maine entrepreneur, Tyler Menifield, owner of Hoot Pickleball, a Pickleball accessory com- pany, found the right match on the network, one he may not have easily found on his own. "anks to the ease and resources of Maine Funding Network, I was matched with Community Concepts Finance Corp. and was able to secure a loan to help me get Hoot Pickleball up and running," says Menifield. e network has facilitated connec- tions between Community Concepts and businesses across Maine, enabling expansion into new regions, agrees Natalie Washburn, president of the South Paris-based institution. "is collaboration benefits busi- nesses statewide and strengthens Maine's economy," Washburn says. Expanded awareness Eddy says the network is particularly helpful for the Midcoast Council of Governments as a smaller institution, allowing it to upgrade its technology instantly from the council's paper appli- cation system and to expand awareness of its presence and services. It's also a great opportunity for small nonprofits to blend their ser- vices and connect with larger institu- tions, he continues. "I think it's a great opportunity for all of us to talk together," says Eddy. So far, five businesses have connected with the council through the network. Two hadn't reached a stage where they were ready for funding, but the goal is to continue talks with them and redirect them to startup consultants. Two applica- tions are underway and loans for Chase Small Craft are close to finalizing. "It was s fun project and it came together well," Eddy says of Chase's plans. One-stop shop Tanner Hanes, a loan officer at Eastern Maine Development Corp. in Bangor, recently closed on a loan, with favorable terms, to Cubhouse Childcare LLC in Dover-Foxcroft to expand operations. e Maine Funding Network makes it easier for small business to find EMDC, Hanes says. "Before that, we relied on referrals from communities, towns and busi- ness development nonprofits, and from banks, if they couldn't lend to someone, because we have a range of products that can serve people outside of that typical lending range," Hanes says. e network provides synergies between services, he says. "I like to consider the Maine Funding Network a one-stop shop that connects Maine businesses with the wide range of community lend- ers that they might not have known about beforehand," Hanes says. "It's been our experience that it's helping get our services and our ability to help to a wider range of people." EMDC has worked with 10 to 15 businesses through the network, including child care, mental health counseling services and a salsa manufacturer. "It's 10 to 15 more businesses that I wouldn't have worked with before," Hanes says. "I expect that number to grow." » C O N T I N U E D F RO M P R E V I O U S PA G E P H O T O / T I M G R E E N WAY P H O T O / C O U R T E S Y O F E A S T E R N M A I N E D E V E L O P M E N T C O R P. P H O T O / C O U R T E S Y O F FA M E Charlotte Mace Jonathan Poole I like to consider the Maine Funding Network a one-stop shop that connects Maine businesses with the wide range of community lenders that they might not have known about beforehand. — Tanner Hanes Eastern Maine Development Corp. Because the state of Maine and FAME are taking a leadership role in putting this tool together, it enhances how we're viewed by national and global investors. — Charlotte Mace FAME There were conversations: 'Wouldn't it be great if there were kind of a front door where people can be connected with these agencies? — Jonathan Poole FAME

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