The SBA 504 Loan Program is usually the best option for businesses looking for low-rate, long-term financing with a low down payment. However, the New Markets Tax Credit (NMTC) loan program, funded by Community Reinvestment Fund, USA, may offer an attractive alternative to 504-ineligible projects.
NMTC loans are often described as “504 look-alikes,” mirroring the SBA 504 loan structure and providing many of the same benefits. Funds are dedicated for the purchase, construction or renovation of owner-occupied commercial real estate and the purchase of equipment.
A loan for businesses in low-income communities
NMTC loans of up to $1.5 million are available to businesses or organizations that can demonstrate community impact in low-income communities or areas of economic stress.
New Markets Tax Credit loan benefits
Low interest rates, long terms and low down payments preserve cash flow and working capital. NMTC loans are available to nonprofit organizations.
Our New Markets Tax Credit Loan Officer [1] can help you find out if the NMTC loan is right for your business.
Links:
[1] http://evergreen504.com/contact-us/loan-officer-team