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Massachusetts Housing Investment Corporation
Boston MACDFI Awards for Massachusetts Housing Investment Corporation
NMTC (2006) - $90,000,000
The Massachusetts Housing Investment Corporation (MHIC), a certified CDFI , will use this NMTC allocation to providing financing to support commercial real estate acquisition and development and to spur revitalization of the state’s most distressed, low-income communities. The NMTC allocation enables MHIC to offer interest-only construction and permanent first mortgage loans, zero to 5% interest-only subordinate loans, and equity investments that represent up to 25% of total project costs (40% when combined with Historic Tax Credits). Eligible projects will include community centers, office and retail space, theatres and performing arts centers, public markets, community health centers, artist studios and gallery space, light industrial/small business centers as well as other projects.
NMTC (2005) - $54,000,000
The Massachusetts Housing Investment Corporation (MHIC), a certified CDFI, will use its NMTC allocation to provide financing to support commercial real estate acquisition and development. The NMTC allocation will enable MHIC to offer interest-only construction and permanent first mortgage loans, zero to 5% interest-only subordinate loans, and equity investments that will represent up to 25% of total project costs. Eligible projects include community centers, office and retail space, theatres and performing arts centers, public markets, health centers, artist studios and gallery space, and light industrial/small business centers.
NMTC (2003) - $90,000,000
The NMTC allocation will enable MHIC to offer interest-only first mortgage loans, zero to five percent interest-only subordinate loans, and NMTC-driven equity investments that represent up to 25 percent of total development costs.
CORE (1999) - $1,000,000
The CDFI Fund"s $1,000,000 capital grant will allow MHIC to take on more complex and targeted projects through a new subsidiary, MHIC Capital Corporation.
Other Community Development Financial Institutions in Massachusetts
ACCION USA
Boston
AI Wainwright LLC
Boston
BCLF Ventures II, LLC
Boston
Institute for Community Economics
Springfield
Jobs for Fall River, Inc.
Fall River
Local Enterprise Assistance Fund
Brookline
MHIC, LLC
Boston
NOAH Community Development Fund, Inc.
East Boston
UECDF Corporation
Roxbury
WCHR Securities, Inc.
Worcester
YouthBuild Loan Fund
Somerville
Featured Government Grant Resources
Small Business Grants - Support for Veterans
The SBA is dedicated to lend a hand to the service people in America and directly links with the Patriot Express Loan for veterans who desire to initiate their own business and want to start commercial activities. The SBA also plays a role in encouraging growth and job creation during the process, which is an indispensable part to support economic prosperity.
Program for Investment in Micro-Entrepreneurs Technical Assistance
The Program for Investment in Micro-Entrepreneurs Technical Assistance Program is designed to decrease the number of disadvantaged micro-entrepreneurs by helping them enhance their management capabilities, by way of providing them with technical assistance and training in the areas concerning activities that are associated with starting, expanding and growing their businesses.
Social Entrepreneurship
Spotlight
Building a Million Dollar Company Where Everyone Counts
Ganesh Natarajan is the Founder and Chairman of 5FWorld, a new platform for funding and developing start-ups, social enterprises and the skills eco-system in India. In the past two decades, he has built two of India’s high-growth software services companies – Aptech and Zensar – almost from scratch to global success.
