Coastal Enterprises, Inc. (CEI), a Brunswick, Maine-based nonprofit community development financial institution has announced a $15 million gift from Giving Pledge signatory MacKenzie Scott.

Awarded through Scott’s Yield Giving, the unrestricted gift follows a previous gift from Scott in December 2020, and will support small businesses, workers, and communities in Maine and rural regions that face barriers to economic opportunity. In its 2023 fiscal year, CEI and its subsidiaries lent to and invested $88.9 million in businesses and high-impact real estate developments nationwide, $34.4 million of which was in Maine.

“We extend our sincere thanks to MacKenzie Scott for this generous and rare gift of unrestricted funds,” said CEI chief executive Betsy Biemann. “This grant is an incredible recognition of CEI’s strong track record, the innovative work of our team, and the potential for CEI’s future impact building a more just, vibrant, and climate-resilient economy in Maine and a better future for people who face barriers in the traditional financial system, such as small business owners and entrepreneurs who live in rural communities, who are women or people of color, who are immigrants or refugees, or who are veterans, or identify as LGBTQ+.”

(Photo credit: Getty Images/DenisTangneyJr)