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The Genesis Community Loan Fund connects communities creating affordable housing and other essential community resources with the capital and expertise they need to overcome barriers to opportunity and prosperity. A nonprofit Community Development Financial Institution (CDFI), Genesis works throughout Maine and other sites in northern New England to make flexible loans, deliver expert project guidance, advance policy solutions, and promote systemic change. We offer impact investing for individuals and institutions to move resources toward community needs.
Genesis is a catalyst for change. As simply as possible, Genesis works with partners to make projects happen that otherwise wouldn’t. For three decades, we’ve seen how our timely, effective funding and expert planning guidance fuels the community collaboration that makes projects successful.
With our partners, we strive to:
1. Originate $16 million in new lending, expanding our loan portfolio to $50 million.
2. Expand work with new borrowers by emphasizing relationship-building with nonprofit and private developers in rural communities, BIPOC-led organizations and BIPOC entrepreneurs, and providers offering supportive services to those experiencing homelessness.
3. Expand our successful work to aid smaller-scale developers who can create affordable housing.
4. Collaborate with state leaders to enhance funding opportunities and remove barriers to rural housing preservation.
5. Amplify our partners’ stories to expand social impact investing, shape housing and other community development projects, and foster outreach in our field to multilingual and BIPOC stakeholders.
Investments: Genesis investors are the backbone of our success, participating in a simple, accessible impact investment opportunity that delivers financial and social returns. As well as earning a fixed-rate return, Genesis investors become partners in community development, helping to build vibrant, resilient, equitable communities.
Contributions: Making a gift helps Genesis keep our loans affordable for our community partners and offer them low and no-cost expert project guidance. In turn, they create and preserve affordable housing, add childcare slots, provide more shelter beds, expand food bank capacity and more. Donors see the impact of their support through our regular updates. Because Genesis is a 501(c)(3) nonprofit, donations are tax-deductible to the fullest extent of the law.
Julie Wagoner, Vice President, Senior Vice President, Commercial Lending & Community Development, Bath Savings Institution
Laurie Miller, Treasurer, Executive Director, Old Town Housing Authority
Janice de Lima, Secretary, Vice President, Community Reinvestment Act Officer & Community Development Banking, Norway Savings Bank
Beth Hayward, Vice President, Business Banking, Machias Savings Bank
Shima Kabirigi, Director, Immigrant-Led Organizations Fund, Maine Initiatives
Jeff Mosley, Program Lead, National Equitable Development Initiative, Capital Impact Partners
Betty Robinson, Emeritus Professor, University of Southern Maine
Robyn Wardell, Development Officer, Community Housing of Maine
Tom Whelan, President, Bath Savings Trust Co.
Annual revenue: $4,604,143
77% Contributed income
22% Net financing
1% Other earned income
22 Lincoln St., Brunswick, ME 04011
Over 30 years, Genesis has made $96 million in loans to more than 400 projects and contributed nearly 30,000 hours of expert guidance at low and no cost to communities. We envision communities with sufficient resources for affordable housing, childcare, health care and other social services, to create a safety net as well as opportunities to build generational wealth and stability.
Maine, New Hampshire and Vermont