Category: Press Release

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.

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 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.

Maine Poised for Big Boost in Clean Energy

Broad Coalition of Businesses, Towns, and Advocates Praise Progress Augusta, ME – Bipartisan majorities in the Maine Senate and House have given final approval to a historic solar energy bill that would give residents, businesses, and towns more opportunities to invest in affordable solar power. LD 1711, sponsored by Senate Minority Leader Dana Dow (R-Lincoln), is awaiting the signature of Governor Janet Mills, who has signaled she intends to sign it into law after campaigning on the need for more solar power in Maine.