NMTC: New Markets Tax Credit

The New Markets Tax Credit (NMTC) Program was created by the Federal Government in December 2000 to encourage investment and jobs creation in very low-income communities. 

Florida Community Loan Fund (FCLF) has participated in the NMTC Program since 2003, and has been awarded five NMTC allocations from the U.S. Treasury's CDFI Fund. At FCLF, our NMTC program focuses on projects that align with our mission of helping underserved citizens throughout the state of Florida. Financing is generally for construction or major renovation of large real estate projects. FCLF's NMTC focus is on:

• Non-profit community facilities, such as charter schools and health centers

• Green projects, such as renewable or solar energy

• Economic Development projects that catalyze neighborhoods, such as grocery stores in food deserts.

Does NMTC fit your project? Some of the characteristics of NMTC financing are:

• Longer amortization or interest-only loans
• Below market effective rates for 7-year term loans
• Higher effective LTVs than conventional loans
• Option of equity conversion

The guidelines for qualifying for financing through the NMTC Program are very specific. More information can be found on our Downloads & Resources page, or on the CDFI Website.

Meet our Borrowers through the NMTC Program and see the impact we have had in qualified distressed census tracts. Or view a summary of our NMTC Projects.

Still have questions? Here are our FAQs for the NMTC Program.

To find out if your project meets the NMTC Program guidelines, Contact Us.