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Refugee and Immigrant Loans PDF Print E-mail


CEI uses its revolving loan funds to provide financing to new and existing refugee and immigrant business owners in Maine. CEI's loan department works closely with  StartSmart, CEI's training and management assistance program for New Americans. 

If you want to start or expand a business, our StartSmart counselors will work with you to gather the information necessary to develop a business plan and apply for a loan. StartSmart staff can help you with the following:

  • Develop a business plan
  • Assess your personal finances, including your financial history
  • Repair your credit history
  • Create an ‘informal' credit history when no formal credit history exists
  • Address necessary licenses and regulations.

For more information on this service or to get help financing your business please contact:

StartSmart
2 Portland Fish Pier, Suite 201, Portland 04101
Telephone: 207/775-1984; FAX: 207/772-5503

 

CEI IN THE NEWS!

U.S. Finance Expert Encourages Banking Investment in Maine Communities
At CEI's 32nd Annual Meeting, Ellen Seidman, Exec. VP of ShoreBank in Chicago, and Sr. Research Fellow with the New America Foundation in Washington, DC, urged Maine bankers and community activists to consider “greater community investment…meeting the actual needs of the community, not just counting dollars invested.” See full speech.

See annual meeting remarks by Ron Phillips, CEO, on triple bottom line investing and the next 5 years for CEI…

See the 12/14/09 article on CEI and the state of investing in communities. It’s where mission happens…

CEI Receives $125 Million in NMTC  Through its subsidiary, CEI Capital Management LLC, CEI will use the allocation to attract private capital investments for primarily rural economic development projects. See press release here.

CEI Receives Investment Funds
In partnership with Manufacturers Association of Maine, CEI will receive $765,000 over from the Federal Department of Health and Human Services, Office of Community Services (OCS), to finance several job-generating small-to-medium enterprises. This funding will create 78 full-time, year-round jobs.  Read press release here. 

Bangor Savings Bank and CEI offer low-interest loans to small and medium-sized enterprises in disadvantaged areas in Maine. Read more here.

Building Bridges of Understanding through Business Development

When Roda Abdi first came to Lewiston, she dreamed of a store that would provide other African immigrants in her community with products that linked them to their heritage and homelands. Through her selection of food, clothing, and household goods, Roda wanted to make A&R Halal Market a place where people could gather and learn about each other's cultures.

As a new arrival in Maine, Roda had few places to turn to help her accomplish her goal. Fortunately, in her search for resources and support, Roda found StartSmart, a CEI business development program for immigrants and refugees. Working with StartSmart staff, Roda received the management assistance she needed to understand American business practices and to work through the complexities of starting a business, from financial planning and marketing to dealing with licenses and regulations. StartSmart also connected Roda to CEI's Individual Development Account Program (IDA), to help her save for the expansion of her business.

IDAs provide a dollar for dollar match for people who want to save to buy a house, get a degree, or finance a business.
36 Water Street, PO Box 268, Wiscasset, ME 04578; Telephone: 207/882-7552; FAX: 207/882-7308; E-mail: cei@ceimaine.org