Genesis invests in projects that serve low-income people and underserved communities. Most of our borrowers are Maine nonprofit organizations that are developing affordable housing or community service projects that will serve low income individuals and families, frail elders, and youth, adults or elders with special needs. Genesis does not lend to individuals; however, if individuals generate a promising community development concept, Genesis may be able to assist them in identifying or forming an appropriate organization to initiate a project.

Genesis loans bridge the gap between the amount available from traditional sources of financing and the amount required to complete a project. These loans often hasten the development of a qualifying project until other committed funding can be drawn down. Genesis works with borrowers to ensure that financing is in line with their needs and repayment capacity.

Loans may be used for:

• predevelopment
• property acquisition
• construction
• leasehold improvements
• rehabilitation
• working capital