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 total $3.7 million, thanks to 35 donors who have joined with the foundation to undertake this type of philanthropy. More importantly, we have currently invested more than $3.3 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.

Here’s a snapshot of MaineCF impact investing projects as of September 2017:

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: Coastal Enterprises, Inc. (CEI)
This loan supports fisheries-related enterprise development. To date CEI has deployed the money to help with the acquisition of a vessel for a lobsterman in Lincoln County and the purchase of equipment for a lobster wholesaler in York County.

Investment: $250,000
Partner: Coastal Enterprises, Inc. (CEI)
This loan 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 and a start-up natural food market in downtown Brewer.

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

Investment: $300,000
Partner: Cooperative Fund of New England (CFNE)
This loan provides additional working capital to help farm, fisheries and/or food-related cooperatives in Maine and also expands CFNE’s collateral pool to leverage other funds.

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 and as convertible debt financing to the Urban Farm Fermentory in Portland.

Investment: $500,000
Partner: Genesis Loan Fund
Our loan supports affordable housing in downtown centers. This loan was used to finance the Lofts at Saco Falls in Biddeford.

Investment: $500,000
Partner: Maine Farmland Trust (MFT)
This renews a loan that supports MFT’s Buy/Protect/Sell program that permanently protects high-value farmland. This loan supported the purchase of Hamm Farm, a 288-acre former dairy farm in Waldo County.

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

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. To date loans have been made to a custom stitchery business in Brewer, a counseling service and a marketing agency in Lewiston, an independent bookstore in Rockland, a veteran-owed landscaping business in Washington, and the Micmac Community Wellness Center in Presque Isle.

Investment: $150,000
Partner: Sustainable Forest Futures (a wholly owned subsidiary of the Northern Forest Center)
This loan provides capital for the Northern Forest Center to acquire, renovate, rent and eventually resell 10 properties in a targeted neighborhood in Millinocket as part of a larger revitalization effort.

For more information, contact Jennifer Southard, vice president of donor services and gift planning, (207) 412-0842, or jsouthard@mainecf.org

MaineCF Impact Investments in the News