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National City New Market Fund, Inc.
Cleveland OHCDFI Awards for National City New Market Fund, Inc.
NMTC (2007) - $75,000,000
National City New Market Fund Inc (NCNMF) provides financing through equity, loans and other financial services to qualified businesses, non-profits and real estate development projects. NCNMF"s activities serve as a catalyst for economic development in disadvantaged areas by attracting new businesses and social service providers and by developing new for-sale housing, commercial and mixed-use real-estate projects. NCNMF will offer highly flexible terms and conditions that pass significant benefits to its borrowers/investees, including: equity with minimal expected cash returns; interest rate reductions up to 300 basis points below market; seven-year interest-only periods, and lower than standard origination fees.
NMTC (2006) - $125,000,000
National City New Market Fund, Inc. (NCNMF) provides financing through equity, loans, venture capital, and other financial services to qualified businesses, non-profits and real estate development projects located in low-income communities throughout the United States. NCNMF will utilize the NTMC allocation to enhance the products and services offered by its Controlling Entity through one or more of the following: interest rate reductions of up to 300 basis points below market; equity without expected cash returns; subordinate debt of up to 100% of loan-to-value ratios; seven year interest-only periods; and lower than standard origination fees.
Other Community Development Financial Institutions in Ohio
ACEnet Ventures
Athens
AHC Community Development, LLC
Cleveland
Appalachian Development Federal Credit Union
Nelsonville
ASB Community Development Corp
Portsmouth
Cincinnati Development Fund
Cincinnati
Cincinnati New Markets Fund, LLC
Cincinnati
Columbus Compact Corporation
Columbus
Columbus Growth Fund, Inc., The
Columbus
Enterprise Development Corporation
The Plains
National City New Market Fund, Inc.
Cleveland
Neighborhood Capital Corporation
Cleveland
Shorebank Enterprise Group
Cleveland
ShoreBridge Capital
Cleveland
Uptown Consortium, Inc.
Cincinnati
Village Capital Corporation
Cleveland
Featured Government Grant Resources
Community Development Financial Institutions
Community Development Financial Institutions are basically financial institutions who possess the ability to provide credit and financial services to underserved industries and communities.
Small Business Innovation Research Phase IIB Bridge Awards
In line with this mission, the NIH has recently constituted the Small Business Innovation Research Phase IIB Bridge Awards to Accelerate the Development of Cancer Therapeutics, Imaging Technologies, Interventional Devices, Diagnostics, and Prognostics Toward Commercialization Program.
Social Entrepreneurship
Spotlight
Social Enterprise: Reaching Out to the Private Sector for Help
John Converse Townsend, a Forbes contributor, shares what can the private sector do for a social enterprise. He encourages social enterprises to reach out to corporations for help to scale up their businesses.
