Investing in Maine

Impact Investing at a Glance

MaineCF’s two impact investing pools focus on downtown and business development and farms, fisheries and food. The combined pools have grown to $4 million, thanks to 35 donors who have joined with the foundation to undertake this type of philanthropy. More importantly, we have invested $3.4 million in projects in Maine.

Through the impact investing program we have expanded our ability to be a catalyst for change in Maine. In partnership with donors, these impact investing pools provide capital in combination with grants to strengthen Maine’s economy and communities.

Read more about the Mayo Mill restoration in Dover-Foxcroft, one of MaineCF's impact investments.

Two new reports highlight the foundation's impact investing activities and outcomes during 2014 and 2015:

Here’s a snapshot of some MaineCF impact investing projects:

Investment:  $300,000
Partner:
Bigelow Laboratory Sciences
Our loan helped Bigelow construct a greenhouse to expand the capability and capacity to grow mass quantities of algae in support of Maine’s aquaculture sector and the growth of other innovative commercial enterprises. 

Investment: $250,000
Partner: Community Concepts Finance Corporation
Our loan supports the pilot of a national model that uses mortgage-backed securities as collateral to increase financing for affordable housing available through CDFIs. This loan was matched 1:1 by the Sandy River Charitable Foundation.

Investment: $500,000
Partner: Genesis Loan Fund
Our loan supports affordable housing in downtown centers.

Investment: $250,000
Partner: Fair Food Fund
Our loan supports food-related businesses focused on distribution, processing, and value-added products. Funds were used in a loan to Northern Girl, a food-processing facility in Van Buren, Maine. A video from Fair Food Fund showcases its support for food entrepreneurs throughout the Northeast.

Investment: $100,000
Partner: Maine Farmland Trust
Our loan helps new farmers purchase farmland in Washington County in conjunction with the Land Access Loan Program.

Investment: $500,000
Partner: Coastal Enterprises, Inc.
This loan supports two MaineCF priorities: $250,000 supports fisheries-related enterprise development and $250,000 benefits downtown development – specifically enterprise development and improving buildings in communities with less access to capital. Our loan funds have been used by CEI to support redevelopment of the Mayo Mill complex in Dover-Foxcroft.

Investment: $500,000
Partner: MaineStream Finance
Our loan supports micro-business enterprise development in downtowns and tribal communities. MaineStream Finance
is working in partnership with Four Directions Development Corporation and Community Concepts Financial Corporation  to deploy MaineCF funds.

Investment: $500,000
Partner: Maine Farmland Trust
This renews a loan that supports MFT’s Buy/Protect/Sell program that permanently protects high-value farmland.