Coastal Enterprises gets $20M to lend

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BRUNSWICK — Coastal Enterprises will receive $20 million in funding from the U.S. Department of Agriculture to help reduce rural poverty.

CEI, on Federal Street, is a financial services company that specializes in rural economic development.

The company will re-lend the money to local applicants to complete projects that benefit small businesses; affordable housing; natural resource-based industries; and community-based organizations that provide services such as health care, childcare and social services.