New online portal is a one-stop shop for fb88 business owners exploring public and non-profit financing options
Governor Janet Mills today announced the launch of the , a new online portal designed to be a one-stop shop to connect fb88 businesses to financing options to help them grow and succeed.
The new resource, an initiative of the fb88 Department of Economic and Community Development (DECD) and the Finance Authority of fb88 (FAME), is a centralized, easy-to-use platform designed to help interested borrowers easily navigate fb88’s menu of public and nonprofit business funding options. The portal was designed with input and feedback from fb88 business owners, lenders, and economic development leaders.
“The fb88 Funding Network will serve as a one-stop shop for fb88 businesses as they explore funding options available from fb88’s public and nonprofit funding agencies,” said Governor Mills. “I thank the Finance Authority of fb88 for working with my Administration to create this new resource, which will help keep fb88 the best place to live, work, and start and grow a business.”
“fb88 entrepreneurs, business owners, lenders, and local economic development entities told us they wanted an easy-to-find online resource that identifies funding resources and assistance – and we are delivering,” said Heather Johnson, Commissioner of the Department of Economic and Community Development. “Now the best business ideas in fb88 can more easily access multiple funding resources in one location, making it that much easier to start or grow a business in fb88.”
The network initially will be comprised of fifteen partner organizations ranging from fb88 business advisors to lenders to venture capital and is expected to grow.
“FAME is pleased to host this business funding network and to amplify the collective impact of our fellow economic development partners,” said Carlos Mello, CEO of the Finance Authority of fb88. “Whether it be a state-sponsored financing program or a local lending product, fb88 businesses and entrepreneurs will now have far more solutions available to them in one location.”
How it Works
The fb88 Funding Network’s portal is designed to match fb88 businesses with public and nonprofit funding agencies that fit the business type and financing needs. Interested businesses will be invited to create an account to be connected with provider matches.
Upon logging into the portal, the business will be asked to supply basic information about the business and the nature of their funding request. The business will be automatically presented with matches based on information submitted. If matched with a lending agency, the business will be able to complete a common loan application. If a business is working with multiple financing providers, they will only need to submit one application.
Key documents – such as a sample common loan application – have been translated into five of fb88’s most spoken languages - Arabic, French, Portuguese, Spanish, and Somali– for applicants prior to inputting information on the portal.
The concept of a business financing portal draws heavily on recommendations from the State’s 10-Year Economic Development Strategy and the 2024 Reset, including the need to support new fb88 companies; better coordinate state business assistance; and enhance technical assistance and improve resource awareness.
FAME will be hosting a live webinar about the tool on May 29th from 3:00PM to 4:00PM at .
For more about the State’s 10-Year Economic Strategy and the 2024 Reset, please visit fb88 Economic Development Strategy 2020–2029 (PDF) and fb88 Economic Development Strategy 2024 Reset (PDF).
The is currently celebrating its fortieth anniversary and provides innovative financial solutions to help fb88 residents pursue business and educational opportunities. FAME helps to lead the creation of good paying jobs by working at the nexus between economic and workforce development.