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Article Archives: Maine
Help for Cooperatively Owned Businesses
The Cooperative Fund of New England is a Community Development Financial Institution focused on providing financial and technical assistance to community-based, cooperatively owned businesses and nonprofits serving low-income communities throughout New England and parts of eastern New York state.
Founded in 1975 to support food cooperative development, the Cooperative Fund has recently expanded its focus to include other types of cooperatives involved in affordable housing development and job creation. Loans made by the Cooperative Fund can cover such needs as working capital, predevelopment costs, business expansion, and equipment and real estate purchases.
In 2010, the Cooperative Fund made loans that resulted in the creation or retention of 616 jobs and 545 units of affordable housing throughout its service area, Connecticut, Massachusetts, Maine, New Hampshire, New York, and Vermont. Recent loans originated by the Cooperative Fund have supported a variety of activities, including local retail food cooperatives, energy-efficiency service providers, youth services, affordable housing development, and rural and urban food production.
Loans provided to the Cooperative Fund are used exclusively as capital for its revolving loan program. Contributions and grants help the fund to provide technical and educational services that support its lending activities.
To learn more about the Cooperative Fund, including potential investment and lending opportunities, please contact Executive Director Rebecca Dunn at (800) 818-7833, or e-mail email@example.com.
Seacoast Workforce Housing
Financial institutions interested in joining this coalition should call (603) 766-3131 or send an e-mail to firstname.lastname@example.org.
Investing in Sustainable Forestry
For further information about this and other funds in these rural geographies, contact Coastal Enterprises, Inc, at (207) 882-7552.
New Rural Empowerment Zone Established
For more information, contact the Northern Maine Development Commission at (207) 498-8736 or on the Web at: www.nmdc.org.