FAME

Individuals who are losing income because of the coronavirus will now have the option of borrowing up to $5,000 per month for up to three months, using an emergency consumer lending program that state legislators approved earlier this week.

AUGUSTA, Maine - The Finance Authority of Maine and Maine Educational Loan Authority are merging under a bill signed into law by Gov. Paul LePage.

The governor said Tuesday that the merger combines the best of two agencies and provides "one-stop shopping for their higher education finance needs.''

Thermogen Industries, the start-up that's struggling to launch a wood pellet plant at the old paper mill in Millinocket, got some more bad news this week.

FAME Scales Down Loan for Great Northern Owner

Apr 22, 2014
The Great Northern Paper mill in East Millinocket, Maine.
http://www.catecapital.com / http://www.greatnorthernpaper.com

There's more uncertainty surrounding the forest products industry in the Katahdin region today, after the Finance Authority of Maine approved a smaller-than-expected loan for a start-up business at the site of the old paper mill in Millinocket. Thermogen Industries wants to develop a wood pellet plant there. And its parent company, Cate Street Capital, originally secured a $25 million loan for the project. But Cate Street's ongoing financial problems prompted FAME's board to reconsider.