It takes money to make money.

That's the familiar concept behind Coastal Enterprises' teaming up with a big-time New York investment firm, to spread more than $5 million in loans around Maine.

Goldman Sachs will loan the Wiscasset nonprofit $5.25 million to re-lend to businesses. It's a new partnership between the two, but a practice that Coastal Enterprises (CEI) often uses to help small businesses: CEI's the middle man.

In some cases, businesses that borrow the money leverage it for bank loans that would otherwise be out of reach.

In addition to the new loan, Goldman Sachs is giving Coastal Enterprises a $250,000 grant to help run the program, CEI spokeswoman Elizabeth Rogers said in a November 27 interview.

The $5.25 million in loan money will help CEI with its goal to lend and invest $128 million over five years, according to Rogers. Year one ended September 31, with nearly $16 million loaned and invested, Rogers said.

The aim is to up that total each year, she said.

The partnership is part of Goldman Sachs' nationwide, $500 million initiative called “10,000 Small Businesses.”

“One of the main barriers to growth for small businesses is access to capital,” Goldman Sachs' managing director Alicia Glen said in a joint press release. “We are pleased to work with CEI to get capital into the hands of small businesses in Maine to help them grow and create jobs.”

“We are thrilled to partner with Goldman Sachs in offering financing support to small businesses, which account for 58 percent of the private sector work force in Maine,” CEI President Ronald Phillips said in the release.