Coastal Enterprises, Inc. (CEI) - Company Research Report

Company Overview

• Name: Coastal Enterprises, Inc. (CEI)

• Mission: To build a just, vibrant, and climate-resilient future for people and communities in Maine and rural areas by integrating finance, business expertise, and policy solutions in ways that make the economy work more equitably.

• Founded: 1977

• Founder: Ron Phillips, a civil rights activist and seminary graduate

• Key People: Betsy Biemann (CEO), Keith Bisson (President)

• Headquarters: 30 Federal Street, Suite 100, Brunswick, ME 04011

• Number of Employees: No information is available

• Revenue: No information is available

• Known For: CEI is a Community Development Financial Institution focused on community development and economic growth in Maine, particularly by supporting small businesses, natural resource industries, and advancing equitable opportunities for underserved communities.

Products

• Flexible Financing Options: CEI provides a wide range of flexible financing options for small businesses, particularly those in Maine and rural areas, including loans, community development financing, and venture capital.

• Business Advising: Offers business counseling and technical assistance to entrepreneurs and small business owners.

• Sectoral Development Initiatives: Provides targeted support and financing for specific industries such as aquaculture, agriculture, food systems, childcare, and natural resource industries.

• Women's Business Center: Supports female entrepreneurs with workshops, training, networking, and business counseling. Also serves LGBTQ+ and BIPOC female entrepreneurs.

• Support Programs for Immigrants and Refugees: Provides linguistically and culturally sensitive business training and support.

Recent Developments

• New Products/Features:

• CEI has expanded its advisory services to include a third Women's Business Center focusing on serving LGBTQ+ and BIPOC female entrepreneurs.

• New Partnerships:

• In September 2024, CEI Capital Management LLC closed a $10 million New Markets Tax Credit Financing deal with Global Polymer Industries, Inc., allowing for expansion and job creation.

• Significant Investments:

• In October 2024, the AIC CEI-Boulos Opportunity Fund made a significant equity investment in the Knowles-Rowland House to address chronic homelessness in Houston.

• Received a $15 million donation from philanthropist Mackenzie Scott to benefit small businesses and communities in Maine and rural regions.

Recent Activity in Finance Initiatives

• New Markets Tax Credit Program (NMTC):

• CEI is recognized as an expert in the NMTC program, securing over $1.02 billion for over 100 projects since 2004, positively impacting rural communities.

• Awarded $65 million in NMTC capacity by the US Treasury in September 2024 to revitalize rural communities further.

Subsidiaries and Affiliates

• CEI Ventures Inc.: Founded in 1994, focuses on venture capital investments.

• CEI Capital Management LLC: Founded in 2004, specializing in tax credit financing.

• Bright Community Capital: Launched in 2018, focusing on clean energy investments.

• 30 Federal Street Investments: Founded in 2010, details are unspecified.

• CEI-Boulos Capital Management: Established in 2019, focuses on community development and impact investments.

Resources and Publications

• CEI publishes annual reports on its impacts and initiatives, such as the "Bridging the Gap" report for FY 2023, which emphasizes economic equity.

• Various publications on aquaculture, clean energy investment, and market analysis, providing insights into CEI’s diverse interests and expertise areas.

Contact Information

• Address: 30 Federal Street, Suite 100, Brunswick, ME 04011

• Phone: 207.504.5900