Article Archives: New Hampshire
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 firstname.lastname@example.org.
New Hampshire State Tax Credits
Under the Community Development Investment Program, qualified nonprofit organizations and municipalities engaged in community development activities apply for state tax credit awards through the New Hampshire Community Development Finance Authority. Organizations receiving tax credit awards must raise money for their specific projects within certain time frames. For-profit businesses can invest cash, securities, or property to help fund these various housing, economic, or community development projects. In exchange for these donations, the businesses receive a 75 percent state tax credit. Examples of recent tax credit opportunities include funding to construct a community center to provide programs and services for at-risk families and youth; funding to support the expansion of a state-wide food bank; funding for the construction of a community health center; and funding for a program providing foreclosure prevention assistance.
To learn more, call Chris Conlogue, Community Development Operations Manager, at (603) 717-9111, or visit the New Hampshire Community Development Finance Authority Web site.
Seacoast Workforce Housing
Financial institutions interested in joining this coalition should call (603) 766-3131 or send an e-mail to email@example.com.
Investing in Sustainable Forestry
For further information about this and other funds in these rural geographies, contact Coastal Enterprises, Inc, at (207) 882-7552.