New Markets Tax Credit Program

The New Markets Tax Credit (NMTC) program provides capital for businesses, developers, and nonprofits to help make their projects a reality. 

 

Did you know?

New Markets Tax Credits have become one of the most competitive sources of financing available in the United States! 

 

Through the NMTC program, a qualifying project can receive 18-23% of the financing it needs in the form of a very low-interest loan that, ultimately, can be forgiven and would not have to be repaid.

 

Is your potential location in a qualifying area? Find out by typing the address into the eligibility map below.

How a Project Qualifies 

Your project qualifies for the NMTC program if:

 

  • Project is in a qualifying census tract, or Project will mainly hire or serve low-income people

  • Project is over $4 million in total project costs

  • No more than 80% of the Project's ongoing revenue will come from housing rental income

  • Project can demonstrate it needs NMTC financing assistance

  • Project will benefit the community

 

Qualifying Project Types 

Qualifying project types include: 

 

  • Commercial Development

  • Community Facilities

  • Health Care

  • Manufacturing

  • Mixed Use

 

Available Loan Types

The NMTC program provides the following types of loans:

 

  • Bank Partnership

  • Bank Participation

  • Construction

  • Lines of Credit

  • Term

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