[yrhcworking] Fwd: The Lending Hand e-newsletter
Mlongreene2 at aol.com
Mlongreene2 at aol.com
Mon Jun 2 10:51:26 EDT 2008
____________________________________
From: info at genesisfund.org
Reply-to: heidi at genesisfund.org
To: mlongreene2 at aol.com
Sent: 6/2/2008 10:49:46 A.M. Eastern Daylight Time
Subj: The Lending Hand e-newsletter
June 2008 What's New at Genesis
* _Approaching $6 million: The Genesis Fund loan pool grows and
grows!_ (mip://0453a1f0/default.html#article1)
* _Genesis Fund lends $600,000 to Avesta Housing to assist chronically
homeless_ (mip://0453a1f0/default.html#article2)
* _Summer is the perfect time to improve energy efficiency for next
winter_ (mip://0453a1f0/default.html#article3)
Interesting Links
* _New rules to live by - an article in the Portland Press Herald
about our work with mobile home parks_
(http://rs6.net/tn.jsp?e=0013JD7b9bAhp6hNQo3UG8h2OHW3-mJM-rMbzjwAcDPBlSkjqKH3uvVJn_jwPzGsBfRY1ocx4roFa4XdjcaK7m5uuZkpSqAR
F4dx3D4q82SGR4mwqowSDL465YwileXERnzZVx5LV_Y0FNHzMZnbhoeLE_C5gR4KO6mL2rt317SzKM
=)
* _Visit our slide show highlighting Genesis Fund projects_
(http://rs6.net/tn.jsp?e=0013JD7b9bAhp64kS0YwwRRplpZT1vO2H9whaqETcqGGt3aENZ0GgF6Co7c8NvND
QJxWfdWza_V9saFdHj7F_GJqgW2P1mpUcSlPY2g1SGy8JcMm6kV4X3B9QBvBcj6x8qNppy5KZuWopt
23CQYpe0MCNcT2TpGrxax)
* _Article on Holbrook's Wharf in Fed. Reserve's Communities &
Banking_
(http://rs6.net/tn.jsp?e=0013JD7b9bAhp7EDdtdV49m8_n96u_42FU-0cSVJdfy01VcGgmDEuIaW1fFLEnjpjIcIenmdNkpUnYixE7jA2tOuTM26pCwx64Lcj3jWjaVmnQ5STq69ds_67ostOyO1EW
ybl0ddaQNUToY1My0JILI1ft4E9Ac1YUIM-S3xmmDVwx8OqtFKgf4skayyJHb2XVS)
* _Today's news about affordable housing in the U.S._
(http://rs6.net/tn.jsp?e=0013JD7b9bAhp7S5N_fY_fQNV7q_OX9nHfzl3Oc33TSN4S9VBHtcHKcYKBzi1XQZGntxWX
MHivWpmo6HQcnvsdYXgf_1sXE4TN-KZ2QrfTttC92gSgsRJoKOoaANwrr0ypOdcVo3SPMFck=)
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The Lending Hand e-Newsletter
The Genesis Fund
Our mission is to help Maine nonprofit groups working to create affordable
housing and other economic and social opportunities in their communities by
offering innovative financing, expert assistance, and help in leveraging
other sources of funding.
Approaching $6 million: The Genesis Fund loan pool grows and grows!
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 Heidi Shott at
207.563.6073 or _heidi at genesisfund.org_ (mailto:heidi at genesisfund.org) .
_Learn more about investing in the Genesis Fund_
(http://rs6.net/tn.jsp?e=0013JD7b9bAhp5zbYV1G7_GnwCKziwkLq4NxIBRZ8nSm_ToO6fQVaAJcl6VPF9NT-fDadLsXSvZwxp9IM
OOIPBSHdLzM3DJsr8aTbF7RWnkHGpcRtIK4WJ9BstL-7fRT9UcB3OO1UOHsW4=)
Genesis Fund lends $600,000 to Avesta Housing to assist chronically homeless
Florence House in Portland will provide apartments and emergency shelter
for 50 women
(http://rs6.net/tn.jsp?e=0013JD7b9bAhp5hrTCV8xSWx5bw4mvsXzVmPazzEXm8fr8DEBJaoQ48WE-n1DRr4r491kqYxr87dmZCu92LoD4KLN8Fje-3Rub6EcY0i5YLTO7WdVtkXU8hvA==)
In April the Genesis Fund board of directors approved $600,000 acquisition
loan to Avesta Housing, Inc. of Portland to assist with the purchase of a
parcel of land on Valley Street. The project, Florence House, will provide 25
efficiency apartments, permanent supportive living space for 15, and 25
emergency shelter beds, for chronically homeless women.
The need for permanent and supportive housing for women living in shelters
in Portland has been identified as an extremely high priority need by all key
shelter providers currently serving that population. The most successful
projects have resulted from partnerships between nonprofit organizations.
_read more about the Florence House project_
(http://rs6.net/tn.jsp?e=0013JD7b9bAhp51-Me5q7jn9gmDigFijfrsXYZORvPTYJKFQme_RyuW0LGN_HFwrrZxSQh4hzxpreezTeg2MI
kBW5OoPj7DkmlwsjAnmEPiccdi7988dy8F-4CSBN2VnbbArj7hySY0GvQ=)
Summer is the perfect time to improve energy efficiency for next winter
Genesis Fund's Green Loans for Maine Nonprofits program
(http://rs6.net/tn.jsp?e=0013JD7b9bAhp4KGw-3P0jad-huRpDyrVspkw_2UvTc6POy0X1JD58nIyc9eHyd3W-3w6xiwSR2V450CeisBtCoOKT0S6OXKtaC3UtrVaQlNhRRkJZ5Uq0-G3qSL1hhmuW
G9GLMW4EkDYc=)
The Genesis Fund seeks to help Maine's nonprofit organizations battle the
rising cost of energy. Many properties owned by nonprofits were built or
remodeled at a time when energy efficiency was not the high priority it is today.
By assisting nonprofits in obtaining energy audits that provide detailed
renovation recommendations, cost-savings projections and capital to finance the
renovations, the Genesis Fund will help nonprofit organizations
- increase energy efficiency
- save money on annual operating costs
- improve their facilities
- reduce their carbon footprint
Maine nonprofits that provide affordable, supportive, elderly housing or
own facilities that provide social services for under-served people and
communities are eligible.
According to Bill Floyd, executive director of the Genesis Fund, "We expect
most of the energy loans to be in the $10,000 to $15,000 range. By
stream-lining the application and approval process and offering below-market rates,
the Genesis Fund will help Maine nonprofits achieve money-saving efficiencies
in their buildings before we enter the next heating season, especially with
the volatile nature of fuel oil and electricity pricing."
Floyd went on to say, "This summer is a great time for nonprofits to be
looking at how a green loan can help with an organization's bottom line,
increase efficiency and reduce its carbon footprint all at the same time."
For more information about the Genesis Fund's Green Loans for Nonprofits
program, please contact Bill Floyd at 207.563.6073 or at _bill at genesisfund.org_
(http://rs6.net/tn.jsp?e=0013JD7b9bAhp6xrio5JTPk9A5gVkdh43UmOCAMYcV_5_ds056ttu
eCYhvJHrKCxKWxAcM9aN1uo6j6FQPO77klho0CRvzxai2JuH0lcimdQ71gO4oj8KXFve-_0qwMSiPX
) .
Similar programs for residences and small businesses -
For elderly and very low income families, the USDA Rural Development in
Maine offers a 1% loan program that will assist in repair and rehabilitation for
individual households. For more information and eligibility guidelines
please click _here._
(http://rs6.net/tn.jsp?e=0013JD7b9bAhp4fF9rR55--KEhT69b2ehAZEfwzNth1_y04Q5exd9Noe-CWxzyx6uuyewb2TheNhvyqVsjkk0qMapc-tKI9UZoLUDa4P7uHP2IeN1fI
XNFIcNoeiOvGXKBr)
Efficiency Maine, a program of the Maine Public Utilities Commission, has
energy saving tips and programs for residential and small
businesses/nonprofits. More _here._
(http://rs6.net/tn.jsp?e=0013JD7b9bAhp4fKchaR1j7vHvQ13NkYOvOIxJN1NAxpavCBJ7qyeCJpVZJ0kvtbsYtYfm8G1O-2H54Rxlj55Yu_-V0KwqOpIKKKF1lYOCAcTNWkNbb
DlJPcYZPNiT_8hM2)
_click for a brochure about our Green Loan program_
(http://rs6.net/tn.jsp?e=0013JD7b9bAhp5bCV6l8LpQahltG6OaLaB2qSEl10a1rf6vGTFUDelrgoyiiNBB1EWXY7vsOlP0JBz
eD025cJpNSGdN_Sxe8CnXawkREGCcdcFH5fdWokGZhdTh9Gcpl_nBdWQnDDJqQN67trmiMYQSIohbG
ZUTI6sCy-FG0gbBseU=)
____________________________________
Questions about The Genesis Fund?
What are the borrowing criteria?
How can I invest in The Genesis Fund?
Can our organization receive technical assistance?
Please visit our website at _www.genesisfund. org_
(http://rs6.net/tn.jsp?e=0013JD7b9bAhp6kyDwfQAEnyjw7RPoxNIhyXVwwUbYt-yfApYhHvIf0gTS8dlljlfaFM79Pio9uQRG_
DMTIthOeK0SzPbHjovPMq36PYuUSK9erxDgPRHTnog==) or
email Executive Director _Bill Floyd_ (mailto:bill at genesisfund.org)
Genesis Community Loan Fund
____________________________________
Email: _info at genesisfund.org_ (mailto:info at genesisfund.org)
Phone: 207.563.6073
Fax: 207.563.6055
_www.genesisfund.org_
(http://rs6.net/tn.jsp?e=0013JD7b9bAhp6kyDwfQAEnyjw7RPoxNIhyXVwwUbYt-yfApYhHvIf0gTS8dlljlfaFM79Pio9uQRG_DMTIthOeK0SzPbHjovPMq36PYuUSK9
erxDgPRHTnog==)
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Genesis Community Loan Fund | 26 Water Street | P.O. Box 609 | Damariscotta
| ME | 04543
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