News Flash

FAME is proud to administer Thrive Maine, a $58 million forgivable loan program for businesses and nonprofits that demonstrate COVID-related negative economic impacts of more than $10,000. The program aims to further strengthen the Maine economy through impactful investments in the future. 

The first application cycle took place in October 2022, with $29 million in forgivable loans allocated to Maine small businesses. 

The second application cycle will be significantly different than the first. Below are some key changes:

• NOT first-come, first-served - this will be a competitive process with all applications scored. The applications with the highest scores will be funded.
• Thrive Maine will fund future plans for organizational improvement and growth, not just replenish past COVID-related negative economic impacts like the first round.
• Priority will be made for businesses and projects in the construction, manufacturing, and science and technology industries, but all industries may apply. 
• Recipients of forgivable loans from the first cycle are NOT eligible to apply.
• The application portal is scheduled to close on June 23, 2023.

More details can be found on our website, FAMEmaine.com/Thrive.