Posts Tagged ‘NMTC’

CDFI Institute Shifting Focus to Stabilizing Local Economic Systems


Last week, I attended the CDFI Institute, which is an annual event sponsored by the CDFI Coalition. The Institute’s focus on policies, strategy, and systemic changes was especially poignant this year with a session focusing on transition of leadership. A panel of senior executives[1] who have been prominent in the CDFI industry, shared  lessons learned [...]

Building Hope One Room at a Time


There was an overwhelming feeling of excitement and gratitude in the air at the Ronald McDonald House (RMH) of Cleveland grand opening celebration last week. The new wing was packed with people with all kinds of ties to RMH – from donors and founding families to parents of children who are patients at nearby medical [...]

Prescription for a Healthier Community


As the mother of three children, I always seem to be nursing someone sick at our house. When most of us need medical help, we call our doctor, hop in the car, drive to our appointment, show our insurance card and get the care and prescriptions we need. But millions of people don’t have access [...]

Finance Fund Receives $40 Million in NMTC Funding


The New Markets Tax Credit (NMTC) program is one of Finance Fund’s strongest resources. Today, we received the long awaited news that the U.S. Department of Treasury awarded us $40 million in NMTC. This is the eighth round of NMTC funding we have received, totaling $240 million since 2004. The NMTC funding fuels our New [...]

Capital and Credit Webinar Helps Small Businesses Thrive


Small business owners and entrepreneurs often contact Finance Fund after they’ve been turned down for a traditional bank loan. We work hard to find ways to partner with traditional lenders and leverage grants and other forms of funding to make financing for these folks possible.  It’s often difficult, complex work, but extremely rewarding. Finance Fund [...]

Finance Fund Awards $15+MM in NMTC to Ironville to Expand Port


Finance Fund is pleased to award $12.8 million in federal and $2.56 million in state New Market Tax Credit (NMTC) financing to Ironville to expand operations at the Toledo Port’s Midwest Terminal. PNC New Markets Investment Partners, LLC, the investor, provided an additional $2.5 million federal allocation. The new construction project is located in a [...]

Congress Extends New Markets Tax Credit: $7 Billion Over Two Years


The tax credit community can breath a sigh of relief and look forward to a better New Year with the news that President Obama signed legislation on a number of tax extender provisions including the New Markets Tax Credit. H.R. 8, the American Taxpayer Relief Act of 2012  extends NMTC for two years, allocating $3.5 [...]

Finance Fund CEO, James R. Klein, To Serve on the New Markets Tax Credit Coalition Executive Committee


James Klein, Finance Fund CEO, has been elected to a seat on the Executive Committee of the New Markets Tax Credit Coalition (NMTCC). The 48-seat board is comprised of members from leading organizations that utilize NMTC, lending institutions, investors, and business professionals. Klein’s duties include advising on policy and regulatory issues that affect the use [...]

Finance Fund Awarded $3 million in Ohio New Markets Tax Credits


Ohio Department of Development Director Lisa Patt-McDaniel today announced that $10 million in Ohio New Markets Tax Credits are being made available to four Ohio entities, including Finance Fund, to spur economic investments of at least $25.6 million across Ohio. The program helps finance business investments by providing state tax credits to investors for below-market-rate [...]

Yesterday, Today and Tomorrow


On October 7-8, 2010, key staff joined the Finance Fund board of directors  for a retreat held at the Clarence D. Lumpkin Point of Pride Building in Columbus. A Finance Fund New Markets Tax Credit  project in 2007, the location perfectly punctuated one of the overall retreat goals, which was to allow the board of [...]

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