A Turning Point
To aid those grappling with homelessness, hunger, substance use, behavioral health challenges, and obstacles to treatment and care, the social service organization Amistad admirably responded to surging demand during the pandemic.
Its Portland, Maine team not only maintained regular programs but also initiated decentralized outreach, “to be there for people who were literally in the streets,” said Amistad Executive Director Brian Townsend.
Then came a daunting operational challenge: cashflow strain emerged due to delayed reimbursement revenue, revealing the organization’s need to address vulnerabilities and build its operational capacity.
“The Genesis Fund's support achieved our every objective—and beyond.”
For this critical community-service partner, Genesis offered a loan that mainstream financial institutions would not. Collaborating with a local foundation, our team acted fast to extend an $85,000 working capital loan. Genesis has a deep understanding of a nonprofit business model dependent on reimbursement, and we are familiar with Amistad’s funding sources.
By helping Amistad bolster service provision and obtain operational guidance to refine its billing approach, the loan marked a transformative juncture in the organization's evolution and growth.