Our next feature in the Board Member Spotlights Series! 

We will introduce one of our Board members to share a little bit more about their experience and the perspective they bring to Maine Venture Fund. 

The MVF Board is made up of 11 members, 10 appointed by the Governor and one ex officio member representing DECD. Each person brings specific expertise that enables MVF to thoughtfully evaluate the best way to support Maine companies. The MVF Board is responsible for making all investment decisions.

This installment features Julie Viola, Gorham Savings Bank.

MVF Board member since 2023.

Can you share a little bit about your professional experience?  

Currently, my role is SVP, Senior Business Development Officer and Small Business Manager with Gorham Savings Bank. I am responsible for leading a commercial banking team, as well as managing my own loan portfolio.

 I began my corporate career at Seafax/Gofish.com in Portland where I worked for 11 years prior to joining Gorham Savings Bank in December 2001. A Portland native and graduate of Portland High School, I earned a B.S. from Bentley University and MBA from Thomas College. 

I was named SBA Star Award Recipient in 2021 by the Maine SBA District Office. Currently, I volunteer for Score Maine as a Subject Matter Expert and am a Co-Presenter for their quarterly workshop, “Funding your Business.” I am the past Board President of Portland Economic Development Corp and active in the Scarborough community.

In your capacity as a banker, what types of initiatives and issues do you most like helping companies with?

Business financial literacy and networking. 

An entrepreneur must understand their financials and the impact decisions have on a business’ financial health.  There is no “one size fits all” approach to funding a startup, maintaining or growing an existing enterprise. Maine has a terrific eco system for business owners to access or refresh skills, learn new approaches and connect with one another.  Networking is the key to remaining relevant, up to date on employer trends or expanding business knowledge. The connections entrepreneurs made enhance the quality of understanding complex topics. 

What is one of your favorite spring activities in Maine?

Counting the days until summer.  🙂  My favorite seasons in Maine are Summer and Fall.  

Can you share one thing you always consider in the diligence process for companies pursuing investment from MVF?

Management capacity:  what have the business owners done previously, and do they have the experience in the industry?

Financial results and viability: what will an investment from MVF do for the business, and what are the next steps in their growth model?  What does their existing capital stack look like and what have they invested into the business to date?

How do you recharge?

Being on the water (lake or ocean)  is my favorite place to recharge.  Sitting at the Beach, paddling my SUP or cruising around on our boat is relaxing and stress reducing.