Innovative and collaborative lending
serves communities throughout Maine - and beyond!

The Genesis Fund offers flexible and creative financing to nonprofit organizations throughout Northern New England to develop affordable housing and community facility projects. Genesis Fund projects help our communities become stronger and more sustainable by providing innovative solutions to financing challenges.

Call or email us to discuss your project needs today.
(207) 844-2035

The Genesis Fund has a reputation for 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?”

The success of the Genesis Fund reminds us all that when we work together we can create positive change in the world around us.

Mark Pinsky, former President and CEO of Opportunity Finance Network (OFN)


Any group or individual interested in discussing the possibility of a loan is invited to contact the Genesis Community Loan Fund. Genesis Fund staff will determine if your project meets lending criteria. If the project is eligible, you will be asked to submit a pre-application form and supporting materials such as a project budget, sources and uses proforma, and letters of commitment.

Once the application is complete, it is sent to the Loan Committee, which reviews completed funding requests on a regular basis. The committee evaluates the submissions according to lending criteria and makes a preliminary determination. Recommendations for financing are submitted to the full Board of Directors.

If the loan is approved, a letter is issued committing to a loan under stated terms and conditions. The borrower's agreement will be required within a specified time. Preparation of documents is authorized and closing takes place, usually within five business days after the satisfaction of all conditions. The Genesis Fund will monitor the loan and provide continued support to the project as appropriate.

Select your loan type from the list below for a downloadable PDF application. Still have questions? Learn more about your eligibility, loan criteria, and terms below, or call (207) 844-2035 today to speak with us about your needs.

Without this support, we truly would not be where we are today as an organization.

Julia Sleeper, Executive Director of Tree Street Youth


The Genesis Fund supports projects that serve low-income people and underserved communities. Our borrowers are nonprofit organizations that are developing affordable housing or community facility projects serving some of our most vulnerable populations: low-income individuals and families, the elderly, homeless individuals, and people with disabilities. The Genesis Fund does not lend to individuals; however, if individuals generate a promising community development concept, professional staff at the Genesis Fund may be able to assist them in identifying or forming an appropriate organization to initiate a project.

The Genesis Fund offers a variety of loans based on the project need. The Genesis Fund is a mission-driven organization dedicated to making our communities better places for us all to live. The Genesis Fund works with borrowers to ensure that financing is in line with their needs and repayment capacity.


The Genesis Fund evaluates all applications and applicants on the basis of:

  • Organizational Capacity: Ability of the applicant to complete the project with available resources
  • Financial Soundness: Fiscal condition of the organization, credit history
  • Project Feasibility: Ability of the applicant to repay loan
  • Collateral Position

To ensure that social benefits are maximized, Genesis supports projects and organizations that:

  • Contribute to community life
  • Strengthen the economic base of low-income communities
  • Embody ingenuity and environmental concerns
  • Guarantee long-term affordability and accessibility for low-income households
  • Combine affordable housing with needed social services for groups like the elderly, single parents, and people with disabilities

This is such a great thing for all of us—affordable housing!  I want to thank the Genesis Fund for making this happen for me and my neighbors.

Resident of an affordable housing project in rural Maine made possible by technical assistance and financing from the Genesis Fund.


Time Limits

The Genesis Fund provides short- and medium-term loans (three months to 10 years) as well as a long-term loans (over 10 years). The loan capital available and the specific needs of the project in question govern the term in any particular case.

Loan Limits

The minimum loan amount is $20,000. The maximum loan amount varies according to total loan capital. For more information on loan terms and limits, contact Genesis Fund staff.

Interest Rate

Interest rates are tied to the cost of funds and other recognized industry benchmarks. Within these parameters, the interest rate of a particular loan is based on the degree of risk, the needs of the borrower, and the transaction time associated with origination and monitoring. Contact staff for current rate information.


In establishing a repayment schedule, the Genesis Fund reviews the term of the loan, proposed source of refinancing or takeout, the ability of the project to generate positive cash flow, project financing, and available collateral. Depending on these factors, repayment options include:

  • Interest only with a balloon payment: the borrower makes equal monthly payments covering current interest; principal and any remaining interest is paid off in a lump sum at the end of the loan term. This option is available for short-term loans only.
  • Partially amortizing with a balloon: equal monthly payments that partially reduce the loan over its term; the remaining amount is paid off in a lump sum at the end.
  • Fully amortizing: equal monthly payments that completely pay off the loan balance over the term of the loan.

Repayment terms are stated in the commitment letter and the closing documents. If a loan is amortizing, The Genesis Fund provides the borrower with an amortization schedule but does not bill borrowers for payments due. Any sum of principal or interest unpaid fifteen days after the due date shall be subject to a penalty in compliance with loan documents and state law. Genesis reserves the right to charge up to five percent (5%) of the unpaid amount or $25, whichever is greater, unless an extension for cause has been expressly granted to the borrower.

Loan Costs and Fees

The Genesis Fund charges an origination fee of one percent (1%) of the loan amount. The fee is paid in two installments. The first installment of 50% of the fee is due upon submission of the signed commitment letter (and is nonrefundable) and the remaining 50% is due at closing.

The Genesis Fund makes every effort to minimize additional fees. However, costs associated with loan processing (legal and recording fees) and collateral perfection (appraisal) will be passed on to the borrower. In addition, borrowers with a current loan that requires a modification of terms will be assessed a $200 processing fee, due at request.

We coach, we advocate, we bring vast knowledge.

Bill Floyd


Who is eligible to receive a loan from the Genesis Fund?

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. The Genesis Fund does not lend to individuals.

Does the Genesis Fund make grants?

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

Where does Genesis get its funds?

The Genesis Fund 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 the Genesis Fund?

The Genesis Fund 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?” The Genesis Fund has a proven record of working with communities and organizations to develop and implement successful projects.

What distinguishes Genesis Fund from a bank?

The Genesis Fund focuses on meeting the needs of community-based organizations that serve our most vulnerable populations. The source of Genesis Fund's loan capital allows for flexibility in responding to the diverse needs of potential borrowers. The primary concern at Genesis Fund 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) 844-2035 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?
  • Avesta
  • Kittery, Limerick & Portland
  • Community Housing of Maine
  • Bangor, Boothbay Harbor, Belfast, Rockland, Scarborough, Lisbon Falls, Portland, Vinalhaven & Waterville
  • ElderCare Network
  • Boothbay, Damariscotta, Jefferson, Round Pond, Waldoboro & Wiscasset
  • We serve communities throughout Maine - and beyond!