In 1981, the U.S. Small Business Administration (SBA) launched the 504 Program to help small businesses reach their full employment potential. It is a fast-growing, flexible business finance program. SBA 504 loans are for businesses to build or improve their fixed assets - mainly real estate and equipment. The terms of the loan are 20 years for real estate and 10 years for equipment. CEI is licensed as a Certified Borrower by the SBA to administer the 504 Program in Maine, and is the largest CDC based in Maine.
CEI's active portfolio includes over 100 current borrowers consisting of over $30 million dollars in loans. Across the U.S. more than 11,800 businesses, including manufacturing, retail, and service, have taken advantage of over $2.8 billion in program financing.
The SBA 504 program is an ideal way of financing properties and equipment with a lower down payment than many banks offer. Businesses are also able to lock in their financing at a fixed rate of 10 or 20 years.
Eligibility for SBA 504 Loans
Almost all for-profit owner-operated Maine small businesses are eligible. The 504 Program can lend you up to 40% or up to $1,500,000 and go up to $2,000,000 (in certain conditions) of the total financing. For Manufacturing we can go up to $4,000,000.
The tangible net worth of the business cannot exceed $7 million and the previous two years net profit after taxes cannot exceed $2.5 million.
Minimum project size: $125,000
Eligible Uses of SBA 504 Loans
Land acquisition and improvement
Building construction and addition
Purchase and/or remodeling of existing buildings
Purchase and installation of machinery and equipment (must have a useful life of 10 years or more)
CEI's experienced development staff help applicants obtain funds by:
Reviewing program guidelines
Packaging applications and reducing paperwork
Assisting in negotiations with other lenders ensuring quick turn-around
Predatory Mortgages in Maine Recent Trends and the Persistence of Abusive Lending Practices. A joint report issued by Coastal Enterprises, Inc. and the Center for Responsible Lending, 2006.
Finance Your Business 
In 1981, the U.S. Small Business Administration (SBA) launched the 504 Program to help small businesses reach their full employment potential. It is a fast-growing, flexible business finance program. SBA 504 loans are for businesses to build or improve their fixed assets - mainly real estate and equipment. The terms of the loan are 20 years for real estate and 10 years for equipment. CEI is licensed as a Certified Borrower by the SBA to administer the 504 Program in Maine, and is the largest CDC based in Maine. 
Eligibility for SBA 504 Loans
Maine Legislature Passes Model Anti-Predatory Lending Bill.