The Intermediary: CEI Mission: To help create economically and environmentallyhealthy communities in which all people, especially thosewith low incomes, can reach their full potential Organized as a CDC in 1977, certified as a CDFI in 1995 88 Staff $898.5 million capital under management/committed 41,044 businesses/people counseled $2.44 billion leveraged Support the Triple Bottom Line – Economy, Equity andEnvironment Three areas of focus: Financing and Investment Business Development Services Policy
Sustainable Agriculture and Food Systems at CEI:Creating Opportunity Along the Value Chain fromFarms to Retailers Supports viability and expansion of rural foodeconomies in Maine and the Northeast Committed to increasing food self-sufficiency andaccess to healthy food for all Provide: Business Technical Assistance Financing Sector Initiatives
Business Technical Assistance Coordinate team-based business planning Leverage resources and networks Provide sector expertise
Financing Flexible debt; lines of credit; equity and equity-likefinancing; guarantees Amounts from <$10,000 to >$500,000 or more Coordinate multiple sources of capital
Sector Initiatives Food access initiative for underserved populations State and federal policy and advocacy networks Strategic collaboration with regional farming and foodorganizations
Programmatic Impact Over our 35 year history, CEI’s food system work hasresulted in over 295 direct investments totaling morethan $15 million and leveraging an additional $75million. In the past 5 years, food system lending has created orretained 323 jobs and kept 6,773 acres of farmland inproduction. Our current portfolio totals $5.7 million; and withinthat our agriculture and value chain portfolio $2.7million.
Village Farm – Freedom, Maine Organic farm in midcoast Maine,offering over 100 varieties ofvegetables, herbs and flowersfor 75+ CSA member householdsand several wholesale accounts. $15,000 microloan to construct agreenhouse and install an irrigationsystem. 2 CEI Fund sources: Maine FarmBusiness Loan Fund (partnershipwith The Carrot Project); TheOrganic Loan Fund
Northern Girl – Caribou, Maine Value-add processing oflocally grown vegetables, inMaine’s northernmostcounty, Aroostook. $25,000 equity investmentto support operations. Sources of funds: CEI’sHealthy Food Finance fundand Annie E. Caseyfoundation funds.
Fossa’s General Store – Dexter, Maine Community store that sourceslocal farm products year round.Phase II plans include vegetableprocessing, and a creamery. $50,000 term loan for workingcapital, renovations, and debtrefinance. CEI Fund source: Healthy FoodFinance Funds.
Community Development Frame: Mission-Based Results, creating opportunity for economic prosperity in underserved communitiesWHEREWEARESUBSIDY BASED MODELTransformative Capital-Seed Capital Funds-Catalyst Fund-"Debt with Training Wheels"-Innovative Capital/FinancingFundTransitioning Businessesin the sustainableagriculture and foodsystem sectorCommitment to develop a revenue based modelWHAT WHOCRITERIAREVENUE BASED MODELCEIVSJF/StOnge