Genesis Community Loan Fund

It means so much to all of us at Genesis that ProsperityME: The Center for Financial Education recognized our work last night with its Outstanding Community Partner Award. It’s a reminder of what we can accomplish when we come together as partners committed to a shared vision of thriving, inclusive communities. Genesis is proud to join with ProsperityME in the important work of helping immigrant families secure stable housing, and we’ll continue to assist as ProsperityME builds its new housing development initiative.?Housing is where stability starts, and where opportunity grows. As a lender, Genesis is also empowering BIPOC entrepreneurs to build portfolios of properties they can operate as affordable housing, with the hope of building strength and vibrancy in communities along with generational wealth. We again congratulate our fellow honorees: Helen Andreoli and Deqa Dhalac, MSW, MDP. Our thanks to Claude Rwaganje, ProsperityME executive director, and Rebecca Winslow, board member, for presenting the award to Liza Fleming-Ives, Genesis executive director. Our work together as Maine neighbors matters deeply. #affordablehousing #CDFIs #GenesisFund #GenerationalWealth #Prosperity

We're excited to celebrate with the residents of the new Blueberry Fields Cooperative (formerly Linnhaven Mobile Home Center) in Brunswick, which is now the largest resident-owned community in Maine! Genesis began 15 years ago to finance and support mobile home park residents in cooperatively buying and managing their communities, recognizing that out-of-state investors' purchases of mobile home parks in Maine threaten the affordability of homes. Genesis has helped finance ALL of the now 11 resident-owned communities in Maine. Blueberry Fields Cooperative closed the deal to purchase with $27.86 million in financing from MaineHousing, Genesis, M&T Bank, and the Town of Brunswick. Cooperative Development Institute guided the 278 residents in forming the cooperative and negotiating their purchase. Maine Governor Janet Mills said, "The success of this project is a testament to the residents and to the importance of the Opportunity to Purchase law I proudly signed last year and the Mobile Home Park Preservation Fund we created.” Under that law (L.D. 1931/H.P. 1239), residents have 60 days to make an offer and 90 days after an offer is accepted to secure the funds to purchase. From the mobile home preservation fund, the Blueberry Fields Cooperative received a $3.2 million grant. Signing loan documents at the closing, Genesis Executive Director Liza Fleming-Ives said, "Genesis is delighted that we could help guide determined residents and work alongside fellow lenders and community partners to preserve this critical type of affordable housing and empower a resident community.” To learn more about this exciting news, and read coverage by The New York Times (Anna Kodé), The Portland Press Herald, WGME CBS13, Maine Public, and more: https://lnkd.in/eCV9EQpG #affordablehousing #GenesisCommunityLoanFund #CDFI #CoopMonth

Especially on Indigenous Peoples Day, let's reflect on the strength, resilience, and enduring contributions of Indigenous communities in Maine and beyond. Genesis honors and supports Indigenous communities working to overcome historic, systemic barriers to opportunity and prosperity while sustaining rich cultural traditions. ?? As a Community Development Financial Institution (CDFI), we are committed to partnering with communities as they create affordable housing and other essential community resources for healthcare, childcare, food security, and more. #IndigenousPeoplesDay #CommunityDevelopment #AffordableHousing #CDFI #FourDirectionsDevelopmentCorporation #GenesisCommunityLoanFund

Congratulations, Oasis Free Clinics! Your team of dedicated doctors, dentists, medical students, administrators, and volunteers is breaking down barriers by ensuring access to free medical and dental care--and we are so pleased that a Genesis loan helped ensure Oasis could buy its new property. ?? Read about Oasis and other inspiring projects in our 2024 Annual Report! https://lnkd.in/efD-mv9N

Thank you for the tour of an innovative project to bring life-changing services under one roof. We can't wait for opening day!

Genesis is honored to receive ProsperityME: The Center for Financial Education’s Outstanding Community Partner Award, recognizing Liza Fleming-Ives leadership and the commitment Genesis shares with ProsperityME to creating affordable, lasting housing opportunities for individuals, families, and communities. A strong reason for our success in expanding our work is the support of our board members: President Rebecca Hatfield, Vice President Julie Wagoner, Treasurer Janice de Lima, Secretary Shima K., Denise Cilley, MBA, Jeff Mosley, Betty Robinson, Mike Ross, Diane Small, Robyn Wardell, MRP, and Thomas Whelan. ?? ???? ???? Thank you, and we'll see you at the ProsperityME Block Party on Thursday, October 10!

Genesis will seek to leverage?this transformative award?with an additional $8 million of community investment capital, to lend an additional?$10 million to expand affordable housing?options, improve healthcare access, and address homelessness and food insecurity across Maine and northern New England. ??? Want to join us in our work? ??? Become a Genesis Fund investor! https://lnkd.in/dRTsxpft Our impact investment program offers individuals and institutions the chance to directly support community development and economic growth across Maine and northern New England. An investment in Genesis blends financial and social returns in a single, accessible product.

Genesis is honored to receive ProsperityME: The Center for Financial Education’s Outstanding Community Partner Award, recognizing our shared commitment to creating affordable, lasting housing opportunities for individuals, families, and communities. And congratulations to our fellow award winners, Helen Andreoli and Rep. Deqa Dhalac, MSW, MDP. We'll see you at the Block Party on October 10!?

?? Exciting News! ?? We’re delighted to announce that the Genesis Community Loan Fund has received our largest-ever award from the U.S. Department of the Treasury's CDFI Fund—$1.8 million in FY 2024. This includes $1 million for projects benefiting people with disabilities, making Genesis one of only 14 recipients nationwide to receive this critical funding. This transformative award will help Genesis, an organization with over $60 million in assets, leverage an additional $8 million in community investment capital. That means we’ll be able to deploy $10 million to expand affordable housing, improve healthcare access, and address homelessness and food insecurity across Maine and northern New England. Genesis Executive Director Liza Fleming-Ives said she's grateful for an award of this size to help Genesis expand affordable housing opportunities and work hand-in-hand with developers and community leaders to address urgent housing needs. Rebecca Hatfield, our board chair and president & CEO of Avesta Housing, said, "We’re not just financing projects; we are forging pathways to brighter futures for Maine’s communities." A huge thank you to our community partners, investors, and donors for their unwavering support. Together, we’re making a difference! ?? Read more: https://lnkd.in/efqvd-99 #CDFIAward #AffordableHousing #CommunityDevelopment #GenesisFund #DisabilityFinance #ImpactInvesting

Reporting by The Portland Press Herald's business reporter Hannah LaClaire features Presque Isle, Maine City Manager Tyler Brown describing the urgency for more housing in rural communities: “We desperately need it.” Rural communities face limited development opportunities, a shortage of skilled labor, and financial barriers that make it difficult to build new homes. In response comes a new initiative, the Farmhouse-to-Workforce Housing Act from U.S. Senator Angus S. King, Jr., which aims to create solutions by expanding grants for rural homeowners to build rental units, supporting Maine’s housing needs and business growth. The article quotes Genesis Executive Director Liza Fleming-Ives talking about how the housing shortage impacts more than just residents. “Employers have a hard time attracting candidates to jobs because of the lack of available housing. This shortage can slow business expansion and community revitalization.” ?? Building a Brighter Future for Rural Maine ?? Programs like Maine's Rural Affordable Rental Housing Program and Senator King’s bill offer hope to rural towns eager to reinvest in their neighborhoods. With the right resources, these communities can revitalize housing stock and fuel local economies. Genesis is proud to partner with rural communities to help them overcome barriers to opportunity and growth. https://lnkd.in/eE8huXC2 #AffordableHousing #RuralDevelopment #GenesisFund #MaineHousing #HousingSolutions #EconomicDevelopment