June 16, 2014
For those of us living in urban areas, it’s hard to imagine not having access to high speed Internet services. There are still communities in Maine that lack this Internet access connecting people to economic development and opportunity. GWI’s innovative vision to create what is now called the “Three Ring Binder” project is making it possible for GWI and other Maine-owned Internet providers to bring broadband statewide. GWI is Maine’s largest independent Internet Service Provider and provides Internet access to communities all over Maine as well as enhanced opportunities for businesses in rural regions. GWI serves over 10,000 residential and business customers in 55 Maine communities through its high speed Internet, phone, and managed IT services. The Three Ring Binder network passes through approximately 172 towns in the state, including many in very rural areas.
“GWI’s core business plan, with its heavy emphasis on rural economic development, was a perfect mission fit for CEI,” said Loan & Investment Officer Mark Jennings, who oversaw a $500,000 loan to GWI. The five-year loan supplements the company’s conventional bank financing, and will provide capital for growth and expansion to GWI.
“Working with CEI proved very easy. Mark understood immediately our mission and the business opportunities for us as well as the economic opportunities our company provides across Maine.”
— PAT SWEENEY, CFO, GWI