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Who is eligible to receive a loan from Genesis?

Nonprofit organizations providing services in Maine are eligible for assistance. In addition, for-profit entities pursuing housing and facilities projects with significant public benefit may be eligible. Genesis does not lend to individuals.

Does Genesis make grants?

No. Genesis does not make grants. Through its technical assistance program, Genesis often helps organizations obtain grants from other sources.

Where does Genesis get its funds?

Genesis relies on low-interest investments and donations from individuals, religious organizations, foundations, banks and other institutions to build the loan fund – and then re-lends these funds to qualifying projects.

Why should my organization work with Genesis?

Genesis has the reputation of being resourceful, creative, committed and responsive. At Genesis, the question is not “will this project work?” but rather “how can we work with others to make this project work?” Genesis has a proven record of working with communities and organizations to develop and implement successful projects.

What distinguishes Genesis from a bank?

Genesis focuses on meeting the needs of community-based organizations that serve Maine’s most vulnerable populations. The source of Genesis loan funds allows for flexibility in responding to the diverse needs of potential borrowers. The primary concern at Genesis is making a project work in a manner that best meets the needs of the community being served. As appropriate, we partner with banks and other development professionals.

How can my organization get a loan?

Contact Genesis Fund staff at (207) 563-6073 to discuss your financing needs. If the project is in line with our mission and is likely to meet the criteria for financing, staff will work with you to complete the application process.

How long will it take to get a loan?

This is dependent on the borrower’s ability to provide required information in a timely manner. In a few cases, we have closed loans in as little as two weeks.

What are examples of projects to which you have lent?

A complete list is available in the Loan Portfolio section of this website.