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Carolina First Community Development Corporation
Greenville SCCDFI Awards for Carolina First Community Development Corporation
NMTC (2009) - $60,000,000
Carolina First Community Development Corporation (CFCDC) will partner with the Department of Commerce, CDFIs, and other CDEs in each of the states it serves to: (1) attract new industry and higher paying jobs in rural areas; (2) rehabilitate blighted urban communities; and (3) provide loans to disadvantaged small businesses. CFCDC will provide loans at below-market rates, and take equity-equivalent provisions that allow the tax credit benefit to be shared with end users in low-income communities. The NMTC allocation will also allow CFCDC to reduce the cost of financing to the borrower by at least 50 percent over what traditional banks could offer at market terms.
NMTC (2008) - $100,000,000
Carolina First Community Development Corporation (CFCDC) will make investments in South Carolina"s rural and urban highly-distressed communities. CFCDC will partner with the South Carolina Department of Commerce and South Carolina CDFIs to attract new industry and higher paying jobs in rural areas of the state, to rehabilitate blighted urban communities, and to provide loans to disadvantaged small businesses. CFCDC"s loan products will provide capital at rates at least 50 percent below market and include equity-equivalent provisions that allow the tax credit benefit to be shared with end users in low-income communities.
NMTC (2007) - $100,000,000
Carolina First Community Development Corporation (CFCDC) will use its NMTC allocation to make investments designed to increase the per capita income and employment for residents of South Carolina"s highly distressed urban and rural communities. It will partner with the South Carolina Department of Commerce and with local CDFIs to: 1) recruit industry to the state; 2) rehabilitate real estate in blighted communities; and 3) provide loans to disadvantaged small businesses. CFCDC’s loan products will provide capital at rates at least 50% below market and include equity-equivalent provisions that allow the tax credit benefit to be shared with end-users in low-income communities.
Other Community Development Financial Institutions in South Carolina
Brookland Federal Credit Union
West Columbia
Business Carolina, Inc.
Columbia
Greenville New Markets Opportunity, LLC
Greenville
Lowcountry Housing Trust
Charleston
South Carolina Community Bank
Columbia
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