Government Grants
Business Grants
Home Owner Programs
Federal Programs
About Us
Coastal Enterprises, Inc.
36 Water StreetWiscasset ME, 04578-0268
Coastal Enterprises, Inc. (CEI) provides financial and technical assistance to small and medium sized businesses located in primarily rural regions of northern New England. CEI will direct its loans and investments primarily to non-real estate businesses (both for-profit and non-profit entities), providing flexible debt for rural, natural resource-based businesses. It will focus on both small and medium-sized enterprises needing less than $2 million in capital, as well as high community-impact businesses with capital needs between $2 million and $20 million. The NMTC allocation will allow CEI to structure deals that make capital available at rates up to 400 basis points below prevailing rates, and on more flexible and favorable terms.
CDFI Awards for Coastal Enterprises, Inc.
NMTC (2009) - $125,000,000
Coastal Enterprises, Inc. (CEI) provides flexible debt for rural, natural resource-based businesses, high community-impact businesses, and real estate projects with capital needs between $3 million and $20 million. CEI will use its NMTC allocation to structure deals that make capital available at rates significantly below market and on more flexible and favorable terms, such as substantial interest-only payment periods, longer than standard amortizations, and higher-than-standard loan/value ratios. In addition, CEI will structure small and medium enterprise loan funds that will offer term debt in amounts of $100,000 to $2,500,000 to help fund smaller projects that traditionally have had difficulty accessing the lower-cost NMTC enhanced capital.
FA (2009) - $2,000,000
Coastal Enterprises, Inc. (CEI) is a nonprofit loan fund that has been in operation since 1977 and is one of the nation’s earliest CDFIs. It serves low-income communities in the rural northeast. CEI provides financing and development services to support micro and small businesses, including the natural resources-based sectors, and to develop affordable housing and community facilities. CEI will utilize its CDFI Program award to carry out the preservation of affordable rental housing properties.
NMTC (2008) - $112,000,000
Coastal Enterprises, Inc. (CEI) will direct investment capital to highly distressed communities in its core market in the northeast. CEI makes rural, natural resource-based investments that have compelling community impacts. CEI provides flexible debt for rural, natural resource-based businesses; small and medium-sized enterprises needing between $200,000 and $2 million in capital; and high community-impact businesses with capital needs between $2 million and $20 million. CEI will help structure deals that make capital available at rates up to 500 basis points below prevailing market rates, and on more flexible and favorable terms, including substantial interest-only payment periods.
NMTC (2007) - $120,000,000
Coastal Enterprises, Inc. (CEI) provides financial and technical assistance to small and medium sized businesses located in primarily rural regions of northern New England. CEI will direct its loans and investments primarily to non-real estate businesses (both for-profit and non-profit entities), providing flexible debt for rural, natural resource-based businesses. It will focus on both small and medium-sized enterprises needing less than $2 million in capital, as well as high community-impact businesses with capital needs between $2 million and $20 million. The NMTC allocation will allow CEI to structure deals that make capital available at rates up to 400 basis points below prevailing rates, and on more flexible and favorable terms.
NMTC (2006) - $120,000,000
Coastal Enterprises, Inc. (CEI) will direct its NMTC loans and investments primarily to operating companies, (non-real estate for-profit and non-profit entities), providing flexible debt for rural, natural resource-based businesses; small and medium-sized enterprises needing less than $2 million in capital; and high community-impact businesses with capital needs between $2 million and $20 million. The NMTC allocation will allow CEI to structure deals that make capital available at rates significantly below market, up to 400 basis points below prevailing rates, and on more flexible and favorable terms, such as substantial interest-only payment periods (often a full seven years), with loan amortizations that are much longer than standard, lower-than-standard cash flow coverage ratios, and higher-than-standard loan/value ratios. In addition, CEI will launch several small and medium enterprise revolving loan funds that will offer term debt in amounts of $100,000 to $2 million to help fund
FA (2006) - $585,000
Coastal Enterprises, Inc. (CEI) is a certified CDFI established in 1977. CEI provides debt products for small and micro-businesses, and financing for homeownership opportunities in rural Maine. The 2006 Financial Assistance Award of $485,200 will enable CEI to implement two new debt products, a flexible second mortgage product and a Muslim loan product; as well as to continue its small and micro-business loan products. CEI will use its 2006 Technical Assistance Award of $99,800 to: (1) develop and implement new mortgage loan products; (2) develop new data security policies and procedures; (3) create new online systems (payment, loan application); (4) upgrade accounting software; and (5) hire a new portfolio manager.
FA (2005) - $855,000
CEI was awarded a total of $855,000 to provide equity capital toward its affordable housing initiatives in Western Maine, which include single-family homeownership developments and assisted living centers.
FA (2004) - $1,000,000
Coastal Enterprises, Inc (CEI) will use the award to make subordinated loans with flexible terms to businesses and small loans to microbusinesses located in rural Hot Zones in Maine and in Washington County, Maine. CEI would use its Employment and Training Agreement (ETAG) to mandate that each company hire low-income people in at least half of the jobs created. CEI will also use the financial assistance to finance a substance abuse treatment center to be developed by the Passamaqoddy Indian Nation. With this project, a $100,000 investment would provide needed social services to Native and non-Native members of the Target Market. It would create new 35 jobs, and would leverage $225,000 in private funds.
TA (2004) - $57,646
Coastal Enterprises, Inc. will use the award to cover the cost of improving technology and staff development
NMTC (2003) - $64,000,000
Coastal Enterprises, Inc. (CEI) intends to use its NMTC allocation to: (1) invest in other working partner CDEs; (2) invest in natural resource based development projects to align development and conservation interests focused on the goal of sustainable economic development; (3) finance major real estate and business investments committed to serving particularly economically distressed low-income communities; and (4) provide loans to small and medium enterprises, also in especially distressed areas, particularly rural areas of the northern tier economy. CEI has established working partnerships with banks and unregulated sources of capital; other development organizations; business entrepreneurs and managers; economic developers; conservation interests; and others with a commitment to sustainable economic development. CEI will employ the economic power of the tax credit to offer lower rates to qualifying businesses, thereby increasing its appeal in the marketplace and enhancing the
CORE (2002) - $500,000
The $500,000 grant from the CDFI Fund will be used to fund a second mortgage pool for low-income homebuyers.
NMTC (2002) - $65,000,000
Coastal Enterprises will use its NMTC allocation to: 1) provide debt or equity capital for commercial and industrial real estate projects; 2) invest debt or equity into micro-, small- and medium-businesses, as well as community facilities owned and operated by for-profit and non-profit entities; 3) invest in businesses which carry out sustainable forestry and economic development; and 4) capitalize other CDFIs and CDEs operating within their service area. Among other benefits, Coastal Enterprises believes that the NMTC Program will enable it to better serve the more remote parts of its rural marketplace.
CORE (2001) - $2,000,000
The CDFI Fund"s grant of $2,000,000 will be used to support lending to affordable housing in the Lewiston/Auburn Enterprise Community as part of a public-private cooperative effort and to finance assisted living facilities in rural areas.
CORE (1999) - $2,500,000
The CDFI Fund"s $2,500,000 technical assistance grant will support management information system expansion, facilities sector research, and execution of a longitudinal study on the effect of CEI"s assistance on its borrowers.
CORE (1997) - $2,500,000
A $2,500,000 grant from the CDFI Fund will be used by CEI and its affiliates to strengthen and expand their lending and investment capacity.
Other Community Development Financial Institutions in Maine
Genesis Fund, Inc.
Damariscotta
MaineStream Finance
Bangor
Western Maine Finance Corporation
South Paris
Featured Government Grant Resources
Small Business Administration's Portable Assistance Program
The Small Business Administration has established the Portable Assistance Program wherein they seek to provide grants to Small Business Development Lead Centers that provide services to small businesses in an effort to increase the success of small business establishments and their viability in certain communities where economic hardship is apparent and is attributable to the impact of a major disaster.
Finding Federal Grants for Woman Owned Businesses
There are many U.S. government grants that are available today. American citizens are not just aware or familiar with it because there is not advertisement about it. This is probably because there are no funds allocated for such announcements....
Social Entrepreneurship
Spotlight
Why People Buy from Social Enterprises?
The Guardian has compiled a list of responses to its latest open thread, and has announced the winner of the social enterprise gift hamper packed with presents.
