Craft3 utilizes the New Markets Tax Credit (NMTC) program to spur investment and promote economic development in low-income communities. We actively participate in transactions to qualified businesses for real estate projects, housing, mixed-use and commercial real estate, and community facilities.
A “qualified” investment must meet certain tests. Interested parties should be prepared for detailed disclosure of financial, operating and management items in order to determine their eligibility.
Interest rates on loans will be below market rates adjusted for both risk and impacts of the project. Size of investments range from $1 million to about $15 million, and maximum loan terms will be 7 years. Other Craft3 investment resources are available for projects needing less than $1 million.
See the NMTC transactions we have invested in to date.
Find out if a New Markets Tax Credit loan is right for you, contact our Chief Lending Officer to discuss your needs further, or go ahead and apply for a loan now.