The federal Project Grant award of $900,000 from the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Program, with a period of performance from September 26, 2024 to September 30, 2027, is being provided to Coastal Enterprises, Inc. (CEI), a non-profit CDFI based in Brunswick, Maine.
The grant funding will enable CEI to deliver a range of financial services, loans, investments, and technical assistance to support economic revitalization and community development in underserved communities. This includes providing microloans, business training, housing counseling, and renewable energy lending to entrepreneurs, small businesses, and low-income individuals. CEI also plans to partner with organizations like the University of Maine System and the City of Portland to implement additional community and economic development initiatives under this grant.
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