CEI, Morgan Stanley to boost small businesses
A new lending partnership between Wiscasset-based CEI (Coastal Enterprises Inc.) and Morgan Stanley is expected to benefit small businesses in Maine and the Northeast.
CEI, a community development finance institution, announced Tuesday it has entered a community loan agreement with Morgan Stanley to distribute $5 million in three key areas: small business financing, affordable housing and community facilities. Further details were not available.
The new $5 million line of credit is part of CEI's five-year commitment to issue $128 million in loans and investments for 771 sustainable enterprises expected to create up to 6,500 jobs.
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