January 2008

New year brings higher interest options to Genesis investors

With more than $2 million in loans to Maine nonprofits serving their neighbors and by providing expert assistance to more than two dozen community groups, the Genesis Fund will experience its busiest and biggest fiscal year ever in 2008.

Beginning January 1, in appreciation to our individual investors and in hopes of convincing some of our many donors to become investors, the Genesis Fund is now offering higher interest rates to those willing to invest funds in our revolving pool of capital. The rates will be highest for investments committed for longer terms.

"With several loans in the pipeline for early this year, the need for more capital to lend to help Maine 's nonprofits do good work in affordable housing and community development is more important than ever," said Bill Floyd, the Genesis Fund's Executive Director.

"Also, as we roll out our two new initiatives – providing green loans for nonprofit facilities and assisting mobile home park residents organize cooperatives to purchase their mobile home parks – we will need more private investments for longer terms so we can make long-term loans to these groups," he explained. "The Genesis Fund has been know for its ability to turn around short-term bridge financing in fast and innovative ways, and that part type of assistance will always be a part of our loan portfolio, but we also need to be able to deploy funds for longer periods to mobile home park co-ops and other groups that need the kind of funding and guidance the Genesis Fund can provide."

The old investment schedule allows for investments of $1,000 and up for at least one year. The investor may choose an interest rate from 0% to 2.25%.

As of January 1, 2008, those who invest (or reinvest a current investment) will be offered the following terms:

Investments of 1 to 3 years – 0% to 2.5%

 

Investments of 4 years or longer – 0% to 3.5%

 

With the Genesis Fund's 100% rate of repayment to investors and 0% default rate from more than 100 borrowers since 1992, our investors know that their investment is both safe and doing the good work of serving our neighbors in communities across Maine.

 

Interested in investing funds in our revolving pool of capital at our new rates? Call Bill Floyd at 563-6073 or read more about supporting the Genesis Fund.

 

Forms

View/Download an Investment Prospectus (pdf)

View/Download an Authorization of Terms (pdf)

View/Download an Investor Datasheet and FAQs (pdf)

View/Download a summary of recent projects (pdf)