Small businesses are the backbone of Maine’s rural economy. For many local entrepreneurs, the path to capital and sustained growth begins with trusted community organizations like Coastal Enterprises, Inc. (CEI), a Maine-based Community Development Financial Institution (CDFI) dedicated to building an economy that works for everyone. CEI’s integrated model combining financing, business advising, and policy solutions helps entrepreneurs access the resources and guidance they need to thrive, particularly in rural markets and among founders who face barriers to traditional capital.
KeyBank is proud to support CEI’s mission through significant multiyear investments that strengthen its capacity to serve entrepreneurs statewide. This work builds on a $450,000 multiyear commitment (2017–2020) that supported CEI’s small business lending and advisory services, driving business growth and job retention in rural communities. In 2025, that partnership was further advanced when CEI was selected as Maine’s recipient of the KeyBank Foundation Bicentennial CDFI Grant ($200,000), expanding free and low-cost business advising to help entrepreneurs prepare for capital, build sustainable operations, and create jobs.
“As a trusted CDFI partner in Maine, CEI is building sustainable pathways to capital and job creation, work that aligns closely with KeyBank’s commitment to inclusive economic growth,” said Eric Fiala, Chief Corporate Responsibility Officer and President of the KeyBank Foundation. “By pairing capital with coaching, CEI prepares entrepreneurs for long-term sucess.
“We focus on the entrepreneurs and organizations that benefit most from targeted investment,” said Betsy Biemann, at CEI. “This partnership is helping us meet people where they are and grow stronger local economies in the process.”
Small businesses play an outsized role in Maine’s resilience. By pairing accessible capital with technical assistance, CEI increases approval readiness, reduces risk for founders and lenders, and supports durable, well-run businesses. KeyBank’s investments help ensure that more neighborhoods within Maine, especially those in rural or historically under-served communities, have a real shot at turning ideas into income, jobs, and generational stability.
