First cohort of entrepreneurs begins class in February
News
CEI Awarded MTI Funding to Pilot a Maine Seafood Marketing Initiative
Study to Examine Potential Formation of Promoting Maine’s Seafood Products December 17, 2019 (Brunswick, ME) — Coastal Enterprises, Inc. (CEI) has received a $25,000 grant from Maine Technology Institute (MTI) for a research project to study the viability of a Maine Seafood Marketing Initiative.
Woodforest CEI-Boulos Opportunity Fund Recognized as a Leading Opportunity Zone Fund in the Forbes OZ 20: Top Opportunity Zone Catalysts List
December 12, 2019 — The Forbes OZ 20: Top Opportunity Zone Catalysts, a partnership between the Sorenson Impact Center and Forbes, recently announced a new list recognizing community organizations and OZ Funds that are committed to achieving equitable economic growth in underserved and overlooked communities throughout the country. We are pleased to announce that the Woodforest CEI-Boulos Opportunity Fund has been selected as one of 20 communities and opportunity zone funds.
New Session of Aquaculture in Shared Waters Starts January 6th
Beginning on January 6th, CEI will be offering Aquaculture in Shared Waters—a practical hands on aquaculture course offered to fishermen from a team representing CEI, University of Maine faculty, Sea Grant associates, Maine Aquaculture Association, Maine Aquaculture Innovation Center and the Downeast Institute. This year’s course will be offered at our Brunswick office at 30 Federal Street, with the option to live stream classes from the UMaine Hutchinson Center in Belfast. Students enrolled will receive training for kelp and shellfish start-ups.
Woodforest National Bank Creates $20 Million Opportunity Zone Fund to Support Economic Revitalization Across its 17-State Footprint
THE WOODLANDS, TEXAS, NOVEMBER 25, 2019 – Recently, Woodforest National Bank® (“Woodforest”) created the Woodforest CEI-Boulos Opportunity Fund (“Fund”), a $20 million private real estate investment fund targeting projects in the recently designated Opportunity Zones across Woodforest’s 17-state footprint. The Fund will invest in real estate projects with the goal of promoting public welfare by benefitting low- and moderate-income individuals in areas designated as Qualified Opportunity Zones.
CEI combines rural business knowledge with mission driven investments to build an economy that works for all
(Brunswick, Maine – November 21, 2019) – Coastal Enterprises (CEI) today released its annual impact data for 2019, showing how its unique combination of impact investments, small business advisory services and policy advocacy is contributing to more economically inclusive and resilient communities in Maine and across the country.
U.S. Treasury Awards CEI $714,000 to Fund Initiatives to Develop Maine’s Food Economy and Bring Economic Opportunity to Places with Persistent Poverty
CEI awarded $300,000 Wells Fargo grant to finance and coach women and immigrants growing businesses in Maine
(BRUNSWICK– November 12, 2019) – Coastal Enterprises Inc. (CEI) is the recipient of a $300,000 grant from the Wells Fargo Foundation to expand its financing and advice for diverse small business owners in rural Maine. CEI is one of 18 Community Development Financial Institutions (CDFIs) nation-wide participating in the Wells Fargo Diverse Community Capital (DCC) program, which helps diverse entrepreneurs grow.
Federal Government Awards CEI $400,000 to Incubate Child Care Businesses and $800,000 to Grow Good Jobs in Rural Maine
September 30, 2019 – Brunswick, Maine – The U.S. Department of Health and Human Services’ Community and Economic Development (CED) program today awarded $400,000 to CEI for the first year of a five-year initiative to expand access to child care in rural Maine’s economically distressed “Rim Counties,” where there are a limited number of child care providers. The discretionary award, which includes funds that CEI will deploy as loans, will support the startup and operation of new child care enterprises. In the first year of the initiative, CEI’s goal is to help launch up to five quality child care businesses prioritizing 40% of the newly created child care spots for families with low incomes.
CEI Partners with PCAF to Assess the Carbon Footprint of its Lending Portfolio
On September 23, the Partnership for Carbon Accounting Financials (“PCAF”), announced that more than 50 financial institutions worldwide, representing 2.9 trillion dollars in assets, have committed themselves to assess and disclose the GHG emissions of their loans and investments. It’s the largest such commitment ever made in the financial sector.