May 7, 2014 — The U.S. Commerce Department’s Economic Development Administration has provided a $500,000 grant to Coastal Enterprises Inc. to replenish a revolving loan fund that provides greater access to capital for Maine’s commercial fishermen and fishing-dependent businesses.
Coastal Enterprises, in Wiscasset, provides funding and business support to small and mid-sized businesses.
The $500,000 will be used to finance equipment, support fishing operations and launch new fishing-related businesses. The money will likely support more than 90 small and medium-sized loans, ranging from $10,000 to $100,000 each, as well as lines of credit, and create about 20 jobs, the Commerce Department said in a media release.
Read the full story at the Portland Press Herald