Category: Press Release

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.

Bipartisan Bill Would Accelerate Investment in Solar Energy Across Maine

Augusta, Maine – For the last five years Maine has ranked last in New England for solar energy generation and number of solar jobs per capita. A new bipartisan bill that received a public hearing today aims to reverse that trend by accelerating the development of more than 400 megawatts of solar power to serve residents, businesses, and towns across the state.

Earning Top Honors: SBA Awards Four CEI Clients as Entrepreneurial Leaders

Of the eleven winners of the U.S. Small Business Administration’s 2019 Maine Small Business Awards, four worked with CEI to plan and finance their growing enterprises. They are Ahmed Abbas of Ameera Bread in Portland, Rebecca and Troy Delano of Alfred’s Upholstery & Co. in Alfred, Kathleen O’Heron of Jynx Productions in Yarmouth and Amber Elliott of Alternative Wellness Services in Biddeford.

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.
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