Coastal Enterprises
Coastal Enterprises provides a variety of financing options and business assistance services, focusing on clean energy projects, community facilities, and commercial real estate, with a particular emphasis on supporting growth-oriented companies in Maine and the Northeast.
Services Offered by Coastal Enterprises
Coastal Enterprises offers a range of financial services and products. These include loans for solar installations and other clean energy projects. The company provides financing options for community facilities and commercial real estate, such as bridge, construction, and predevelopment loans. For smaller financial needs, Coastal Enterprises offers the Wicked Fast Microloan for amounts up to $30,000. Additionally, the firm provides investment options for growth-oriented companies in Maine and the Northeast. They also offer free general business assistance through the Maine Small Business Development Centers and specific advising programs for women, refugees, and immigrants.
Sector-Specific Expertise of Coastal Enterprises
Coastal Enterprises brings sector-specific expertise to a variety of fields. These include child care, marine-related businesses, and farm and food businesses. Their experience extends to providing financing for environmentally sustainable or climate-resilient projects, including loans for solar installations. They also focus on aquaculture businesses in Maine's coastal counties and offer loans for meat and poultry processing facilities. Additionally, their Maine Historic Tax Credit financing aids the restoration and rehabilitation of Maine's historic properties.
Coastal Enterprises' Commitment to Business Advising and Training
Coastal Enterprises provides confidential advising and training to help individuals build assets and financial security. This includes specific advising programs for women, refugees, and immigrants. They also offer financial wellness coaching and homeownership counseling. Their initiatives are designed to improve job quality through programs like the Good Jobs Framework, which includes a living wage, basic benefits, and a fair and engaging workplace. Furthermore, they work with businesses to enhance job quality and implement more equitable and inclusive hiring practices.
Financial Products by Coastal Enterprises
Coastal Enterprises offers a variety of financial products tailored to different needs. This includes socially responsible venture capital for growth-oriented businesses in rural towns and small gateway cities across the Northeast. They provide a range of financing models such as debt, construction and bridge loans, and project acquisition. For renewable energy projects, they offer Power Purchase Agreements (PPA). Coastal Enterprises also provides low-cost solar loans and clean energy financing for community projects.
History and Impact of Coastal Enterprises
Since its founding in 1977, Coastal Enterprises has invested $1.53 billion in 3,222 businesses and projects. Their work includes financing models for renewable energy projects and community development. The organization has also been active in public advocacy, testifying on 30 bills before the 130th Maine State Legislature. Coastal Enterprises' long-standing commitment to economic development has made a significant impact on local communities and businesses.