News & Events

Keeping you updated on what’s happening at CEI


November 03, 2015

CEI Targets Lending in Rim Counties

November 3, 2015–Coastal Enterprises Inc (CEI) has been awarded $800,000 from the U.S. Department of Health and Human Services, Office of Community Services (OCS) to provide a revolving loan fund that will finance expanding businesses and provide workforce technical assistance to rural businesses in Maine’s “rim counties.” Small and mid-sized businesses in need of financing in Oxford, Franklin, Somerset, Piscataquis, Penobscot, Aroostook and Washington Counties are encouraged to contact CEI. The rim counties continue to experience economic distress, while impacting the welfare of families, businesses and communities alike. The poverty rate for the seven county area is 17.1%, compared to 13.6% for the state and 15.4% for the nation, and the unemployment rate for this region remains significantly higher than that of the remainder of the state.

CEI is targeting investments of these funds in two of Maine’s most important job-generating industries: innovative, value added wood products and nature-based tourism businesses. In order to qualify for loans from this fund, businesses need to be creating full time jobs with a majority targeted to low-income employees at an average cost of $20,000/job created. CEI also intends to dedicate a limited amount of funding for job-specific training resources to support workers entering new jobs.

image of Kingfield Kinder Care

Kingfield Kinder Care

"When Jackie Lobdell’s children were young, she couldn’t find daycare fitting the hours she needed. The nearby child care was closed Fridays and…"

image of Taylor Tots

Taylor Tots

"Miranda Taylor turned her experience as an Ed Tech III/School-Based Behavioral Health Professional into Child Care entrepreneurship - creating a commute-free job for…"

image of Maine Ocean Farms 

Maine Ocean Farms 

"The oysters produced by Maine Ocean Farms are regarded as some of the best on the East Coast and are served across Maine…"