About this programme
Wicked Fast Microloans are Coastal Enterprises Inc's (CEI) fast-turnaround loan product for Maine businesses that need cash without a long, complicated application. CEI is a Maine CDFI focused on lending to people and communities that traditional lenders often pass over, backed by business advisors and workforce and sector experts.
How it works
Start-up businesses can borrow up to $15,000, and existing businesses up to $30,000. The interest rate is a fixed 7.25%, with a typical term of up to 5 years (60 months).
Funds can go toward working capital, equipment or supplies, and refinancing existing higher-interest debt, but they cannot be used for real estate purchases.
Non-profit businesses do not qualify for this loan.
A borrower must have evidence of a relationship with a business advisor; CEI can refer one for free on request.
Who can apply
The business must be located in Maine. Any sector is eligible.
The business must be for-profit; non-profits do not qualify.
The borrower must have, or obtain, a relationship with a business advisor before borrowing.
How to apply
- Have your business plan, financials, and other materials ready.
- Complete the Wicked Fast Loan Application.
- Submit a Credit Acknowledgement for each guarantor listed on the loan application.
- Review the Application Checklist to confirm you have all required materials.
- Alternatively, complete the loan inquiry form first and a lender will reach out to you.
Documents you’ll typically need
- Business plan or Business Questionnaire
- Credit Acknowledgement for each guarantor
- Application Checklist
Frequently asked
How much can I borrow through Wicked Fast Microloans?
Up to $15,000 for a start-up business, or up to $30,000 for an existing business.
What is the interest rate and term?
A fixed 7.25% interest rate, with a typical term of up to 5 years (60 months).
Can I use the loan to buy real estate?
No. Funds can be used for working capital, equipment or supplies, and refinancing existing higher-interest debt, but not real estate purchases.
Can a non-profit apply?
No, non-profit businesses do not qualify for Wicked Fast Microloans.
Do I need a business advisor before applying?
Yes. You need evidence of a relationship with a business advisor; CEI can refer you to one for free if you don't already have one.
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Reviewed 2026-09-25. Programmes change, so check eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private firm and is not part of any government body.