Coastal Enterprises Inc., a Brunswick-based community development financial institution, provided $17.7 million in capital to 115 businesses in its 2025 fiscal year, the group’s latest annual impact report shows. All but 2% of the businesses are in Maine.
The group, led by CEO Betsy Biemann, also provided advisory services to 1,745 entrepreneurs at every business stage. More than 50 clients started new businesses.
Clients include Balfour Farm in Pittsfield, an organic dairy farm and creamery that used a low-cost solar loan from CEI to expand a solar array on its buildings and add battery backup.
In Brunswick, Nicole Testa worked with CEI business advisors to get Cobra Queen Printing off to a running start. The screen-printing startup is based in the former Fort Andross.
“I was in the planning phases of purchasing this business when I contacted CEI, before I even had physical space,” Testa said. “I didn’t have a lease until October, and I didn’t move into this space until November of [2024]. My advisor was with me through all of those times.”
CEI said it finances projects and businesses that benefit people and communities with low incomes who don’t have other options.
The $17.7 million figure deployed last year includes $1 million in “Wicked Fast” microloans that help borrowers avoid credit card debt and high-interest predatory loans.
Three-quarters of the loans went to businesses owned by people underserved by the traditional financial system, including women, immigrants and residents of rural areas.
More than half, 58%, of the loans went to sectors key to Maine’s economy, including $4.6 million to child care businesses and $5.7 million to food harvesters, farmers and producers on sea and land. Around 10% of the loans were used to boost energy independence and environmental resiliency at small businesses in Maine.
