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New Markets Tax Credits

New Markets Tax Credits are a well-kept financing secret.
(Except to us.)

The New Markets Tax Credits (NMTC) program is a $33 billion federal program designed to incentivize private investment in low-income communities. NMTCs are provided to financial institutions in exchange for equity investments that eligible businesses can use to subsidize project development costs.

Here’s the bottom line. Attracting NMTCs to a project can equate to roughly 20% of a project’s cost in flexible debt or equity-like financing, including very low-interest loans that are forgiven at the end of seven years.

CBO Financial is a core participant in the NMTC industry, having received five allocations of our own totaling $130 million for our subsidiary Community Development Funding and secured nine awards for clients totaling $400 million. All told, we have procured $500 million designated for revitalization of low-income neighborhoods.

For information on NMTCs including qualifying criteria and the application process, please download our NMTC white paper.