Coastal enterprises INC. - me

Coastal Enterprises, Inc. received a $266,180 Project Grant award from the Small Business Administration's Office of Capital Access, effective July 1, 2025, through June 30, 2026, under the Microloan Program (CFDA 59.046). As an established Community Development Financial Institution (CDFI) intermediary lender based in Brunswick, Maine, Coastal Enterprises will utilize this grant funding to support microenterprise development activities, including marketing, management, and technical assistance services for prospective and current microborrowers, as well as training and capacity-building support for intermediary lender staff.

The Microloan Program operates through a dual-funding mechanism in which the SBA provides grants to participating intermediary lenders like Coastal Enterprises to enhance their ability to serve underserved entrepreneurs and small business concerns in economically distressed and rural communities. Under this award, Coastal Enterprises will continue its established mission of empowering women, minorities, low-income individuals, and rural entrepreneurs through targeted financial and business development programs, complementing the microloans (up to $50,000) that the intermediary originates for working capital, inventory, supplies, equipment, and other eligible business purposes.