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Maine’s AFP The mPower Loan Program

Maine’s AFP The mPower Loan Program. May 2013 Jim Marc-Aurele MBA, OTR/L mPower Board Chair Kathy Adams OTR/L, ATP MaineCITE , AT Act Prog. The Maine AFP Founders. Steve Tremblay Kim Wallace Stan Provus. Maine’s AFP. Maine’s population is

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Maine’s AFP The mPower Loan Program

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  1. Maine’s AFPThe mPower Loan Program

    May 2013 Jim Marc-Aurele MBA, OTR/L mPower Board Chair Kathy Adams OTR/L, ATP MaineCITE, AT Act Prog
  2. The Maine AFP Founders Steve Tremblay Kim Wallace Stan Provus
  3. Maine’s AFP Maine’s population is 1.3 million people Maine’s AFP was created in Maine Law in 1988 to help lessen the burden when families/consumers were buying high cost AE and AT
  4. mPower Loan Program Established by a citizens referendum, funded with a State $5,000,000 bond in 1988 Another $1.5 million bond referendum in 1997 $750,000 Title 3 AFP funds awarded to Maine CITE in 2005 mPower Board has 9 members: 5 consumers, VR Rep, State Treasurer, Banker, CPA Board members are appointed by the Governor for three year terms low interest revolving loan fund mPower is a direct lender
  5. mPower Loan Program Loans to Individuals/Families & Business owners Loan limits >>> $250 to $100,000 $ 23,265,350 (2122 loans) loaned since 1988 $15,911,729 (1537 loans) has been paid back Financial Freedom by Alpha One
  6. mPowerStructure mPower Board oversees 3 subcontractors FAME Financial Services Alpha One CIL Consumer Services NL Partners Marketing Firm
  7. mPower Loan Program The Board has a Marketing Sub committee Through an RFP process, NL Partners, Marketing firm in Portland ME was selected Expertise across multiple media platforms Provide integrated marketing functions High volume media buyer—leverage benefits Commitment to understanding the target market Annual contract cost $55,000, including media buy
  8. MarketingmPower Advertising mPower Loans Increasing brand awareness, program visibility and relationship building Development of marketing database: target marketing, integration of initiatives Establish outcome goals…and measure over time Increase program inquiries and loan applications mPower 30 second TV spot
  9. Jim Marc-Aurele MBA, OTR/L jmarc-aurele@midcoasthealth.com Kathy Adams OTR/L, ATP kadamsot@maine.rr.com
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