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Community Development Fund
Overview The NCRC Community Development Fund (NCRC CDF) is an emerging community development loan fund established as an independent affiliate of the National Community Reinvestment Coalition (NCRC). NCRC Community Development Fund is a ‘triple bottom line’ community development financial institution (CDFI) that measures the success of its investments by financial return, positive social impact, and environmental benefits to the communities served. NCRC CDF helps small businesses and emerging entrepreneurs grow and thrive by lending to historically underrepresented business owners and by pairing our loans with expert consulting services and technical assistance. NCRC CDF expands on NCRC’s 20-year history as an organization that creates, implements, and supports long-term solutions and strategies that build communities and promote economic well-being in low-income and minority communities. NCRC’s 600+ members nationwide include more than 60 certified CDFIs, as well as community organizations that promote access to basic banking services including credit and savings, and create and sustain affordable housing, job development, and vibrant communities for America’s working families. NCRC CDF is also exploring the potential to form partnerships with organizations that have received New Market Tax Credits allocations. The Fund would act as a conduit to link qualified small businesses with Community Development Entities that hold NMTCs. After gaining experience, the Fund may apply directly to the CDFI Fund to receive a direct allocation of NMTCs. Generally, for-profit firms, joint ventures, partnerships, and limited liability companies are considered eligible. A member of a minority group or woman should have at least 51% ownership and management control of any prospective borrower. Community-based organizations that seek to promote economic opportunities or other services that benefit low-income people and/or communities shall be considered eligible, as well. Government entities are not eligible to become borrowers.
