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W W W. M A I N E B I Z . B I Z 51 Fact Book / Doing Business in Maine B U S I N E S S R E S O U R C E S How FAME delivers FAME offers a suite of flexible financ- ing tools designed to meet the needs of businesses at every stage: Commercial Loan Insurance reduces lender risk and helps busi- nesses secure financing that might not otherwise be available. FAME Direct Loans provide critical gap financing to support business expansion, retention and job creation. Maine Seed Capital Tax Credit encourages private investment in Maine companies by offering com- petitive tax incentives. Maine New Markets Capital Investment Program attracts investment to economically dis- tressed communities, supporting major development projects. Revenue Obligation Securities Program enables tax-exempt bond financing for manufacturers and nonprofit organizations. FAME also partners with the Maine Department of Agriculture, Conservation and Forestry and regional economic development organizations to support rural industries, natural resource businesses and community-based financing solutions. Connecting Maine's funding network FAME continues to strengthen collabo- ration across Maine's economic develop- ment ecosystem. e Maine Funding Network, a centralized portal developed in partnership with public and non- profit organizations, connects businesses with financing and counseling resources through a streamlined application and matching process. During its first two years, the net- work generated more than 2,900 fund- ing and counseling matches for nearly 1,000 Maine businesses, $800,000 in loans and works with 24 funding and development partners statewide. Looking ahead As Maine's economic and workforce needs continue to evolve, FAME remains focused on expanding access to capital, strengthening education and workforce development and align- ing with partners across the state to deliver results. By continuing to invest in proven tools and collaborative solu- tions, FAME is committed to provid- ing the support Maine needs in its next chapter of economic growth. BUSINESS FINANCING IN ACTION: Bangor Region YMCA Serving the Bangor community since 1891, the Bangor Region YMCA is undertaking construction of a new, state-of-the-art facility that will significantly expand its services to the region. FAME provided Maine New Markets Tax Credit financ- ing to support the project, which will replace an aging 45,000-square-foot building with a larger, modern facility. The new center will include an Early Learning Center with 104 seats for young children, expanded before- and after- school programs, a STEAM makerspace, and a teen center. Located on a 7.5-acre campus with outdoor learning and recreational space, the project is expected to create 242 permanent jobs and serve more than 35,000 people annu- ally, strengthening both community health and workforce participation in the region. "We deeply appreciate FAME's support for this important project," said Diane Dickerson, CEO of the Bangor Y. "This new facility will better serve the Bangor region and offer new and expanded services to the community." BUSINESS FINANCING IN ACTION: Irving Forest Products, Aroostook County In Nashville Plantation in Aroostook County, Irving Forest Product's Ashland Sawmill is one of the region's largest employers, providing approximately 140 full-time jobs. The mill is a leading manufacturer of dimensional lumber. FAME provided Maine New Markets Tax Credit financing to support a major expansion that will double the facility's annual lumber production capacity from 130 million to 250 million board feet while strengthening its role as a key manufacturer in northern Maine. The project is expected to add approximately 80 full-time jobs. "This investment reflects the hard work of our team and our long-term commitment to the region," said Jerome Pelletier of Irving Forest Products. "It will help us support good jobs and continue contributing to the Aroostook community." P H O T O / C O U R T E S Y O F FA M E P H O T O / C O U R T E S Y O F FA M E P H O T O / C O U R T E S Y O F FA M E Josh Philbrook is the site manager at Irving Forest Products' Ashland Mill in Aroostook County. A view of the construction of the Bangor Region YMCA, as seen in late June by the construction webcam. Diane Dickerson, CEO of the Bangor Region YMCA, at the construction of the Y's new facility.