Category: Press Release

CEI Welcomes New Colleagues in Accounting, Lending & Small Business Development

September 2, 2020 (Brunswick, ME) – CEI recently hired six new professionals to join their accounting, lending and business advice teams. They include: Molly Gerencer, loan and investment officer; Mary Cay Harrington, fund accountant; Grace Mo-Phillips, business advisor; John Michael Nadeau, senior accountant; Nikki Yanok, associate loan and investment officer; and Jenn Stein, business advisor & food systems specialist with our Small Business Development advising team.

Maine SBDC & Maine DECD Announce New Micro-Enterprise Grant Program

August 17, 2020 – The Maine Department of Economic & Community Development (DECD) in partnership with the Maine Small Business Development Centers (SBDC) will provide grants of up to $5,000 for businesses with five or fewer employees, with an owner whose income is in the low to moderate range as defined by the Department of Housing and Urban Development (HUD).The money is part of the $11 million Maine received from the federal CARES Act for its Community Development Block Grant (CDBG) program. Approximately $2 million of the allocation is being made available through the Micro-Enterprise Grant Program in partnership with the Maine Small Business Development Center. The funds for the program are being distributed through Androscoggin Valley Council of Governments (AVCOG), Coastal Enterprises, Inc. (CEI), Northern Maine Development Commission (NMDC), and Southern Maine Planning & Development Commission (SMPDC).

Mission-Driven Lenders Offer Loans to Boost Business Recovery

May 18, 2020 (Brunswick, ME) – Coastal Enterprises, Inc. (CEI), Community Concepts Finance Corp and MaineStream Finance are offering special loan products supported by SBA funds in a collaboration to help businesses across Maine gain access to the capital they need to rebuild from the devastating impact of the COVID-19 pandemic.  

Grant from Henry P. Kendall Foundation Provides Debt Relief for CEI’s Maine Farm Borrowers

May 4, 2020 (Brunswick, ME) – Thanks to a generous $100,000 grant from the Henry P. Kendall Foundation, Maine farms with active loans from Coastal Enterprises, Inc. (CEI) will receive debt relief covering principal and interest payments for three months beginning in May. The farms in CEI’s portfolio are located in 11 of Maine’s 16 counties, reflecting the diversity of the state’s agricultural industry. Farm businesses have been especially hit hard by the unanticipated, immediate loss of revenue and severe disruptions in supply and demand due to the COVID-19 pandemic.  

CEI Names Seven Businesses to its 2020 Cohort for Maine Tastemakers Initiative

February 24, 2020 (Brunswick, ME) – CEI has selected the 2020 cohort for its Tastemakers Initiative, providing financial resources, market analysis, specialized consulting and investor networking opportunities for emerging food and beverage companies. The companies are Maine Cap N Stem; Ocean Approved, Inc. (DBA Atlantic Sea Farms); Glidden Point Oyster Co.; Wilbur’s of Maine Chocolate Confections; Commonwealth Poultry; Bigelow Brewing Company; and Aurora Mills and Farm, LLC.

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.  

Due to the COVID-19 Pandemic CEI offices are closed to the public. CEI staff will be working remotely and want to hear from you! Please reach out to your CEI contact regarding scheduled meetings and/or any questions/concerns. Click here for a list of COVID-19 Business Resources.