A flurry of new investments in the spring of 2008 opens new possibilities for the Genesis Community Loan Fund to assist nonprofit organizations across Maine.

After raising interest rates for investment loans placed with the Fund four years or longer, a number of new investments have increased the pool of revolving capital from $4.3 million to $5,782,256.

According to Genesis Fund Executive Director, Bill Floyd, new investment loans from Bangor Savings, Bath Savings, the Adrian Dominican Sisters, and an anonymous investor will "give us flexibility to be innovative about how we assist the many groups doing important work in their local communities that might be otherwise shut out of mainstream financing.

"Filling that financing gap is why the Genesis Fund was founded, and an increase of this magnitude in our capital pool goes a long way to help us assist many more groups that need our funding and technical assistance, " said Floyd.

The Genesis Fund, which has lent more than $13 million to 136 projects since 1992, will be able to expand its efforts to support groups working in the areas of affordable, supportive and elderly housing and community facilities that serve low-income and underserved people. As loans are repaid, the funds may be used to support the work of other organizations across Maine.

"We are extremely excited to see the Genesis Fund's pool of capital to lend approach the $6 million mark," said Floyd. "Now we need investments to push it over the top."

For more information about how you, your business, church or foundation can put your money to work for good across Maine, please contact Bill Floyd at 563-6073 or bill@genesisfund.org .