A Loan to Purchase Quickly - Union, ME
Responding to Food Insecurity
Concerned about food-insecure families beyond their reach, organizers of the Come Spring Food Pantry in Knox County Maine worried that their pantry was hidden. It operated from the back corner of a small community center that lacked accessible parking.
Then they saw a solution: a building for sale just down the road, offering a high-visibility location, ample parking, and 2,800 square feet of space. It could accommodate food pantry operations, a community kitchen, classroom, and longterm food storage that other local organizations could share.
If they closed on the property within a month, they would qualify for a valuable tax exemption.
Without enough time to launch a major fundraising drive, and knowing that many lenders would be unable to make a loan so quickly, Come Spring turned to the Genesis—and the local project leaders learned we’re structured to respond quickly to community needs and grassroots efforts like this one.
A Genesis Fund loan enabled the nonprofit to purchase the property before month’s end, and create a permanent home and space to meet the community’s need for expanded food pantry services.
“Genesis was amazing to work with,” said project volunteer Lorain Francis. “They believed in us from the beginning, and everybody pulled together and made it happen.”