Government Grants
Business Grants
Home Owner Programs
Federal Programs
About Us
National Community Investment Fund
2230 S. Michigan, Suite 200Chicago IL, 60616-2103
CDFI Awards for National Community Investment Fund
NMTC (2009) - $60,000,000
The National Community Investment Fund (NCIF) is a certified CDFI that provides equity capital to community development and minority-owned banks and low-income credit unions. NCIF will utilize its NMTC allocation to co-invest with CDFIs in real estate and non-real estate transactions in rural and urban communities throughout the country. NCIF will use a leveraged investment model to participate in high impact transactions, with the CDFI providing a conventional loan and NCIF providing a NMTC-enhanced, often subordinated product. This financing structure will result in businesses receiving loans characterized by several concessionary features.
FA (2009) - $2,000,000
The National Community Investment Fund (NCIF) is a certified CDFI established in 1996. NCIF is a national intermediary that provides debt and equity products/services to community development banks and credit unions that serve low income populations nationally. The NCIF will use the 2009 Financial Assistance award to make financial investments in community development banking institutions.
NMTC (2008) - $30,000,000
The National Community Investment Fund (NCIF) is a certified CDFI devoted to providing equity capital to, and increasing the number of community development and minority-owned banks and low income credit unions. NCIF will utilize its NMTC allocation to co-invest with CDFIs in real estate and non-real estate transactions in rural, urban and tribal communities throughout the country. NCIF will use a leveraged investment model to participate in high impact transactions, with the bank CDFI providing a conventional loan and NCIF providing a NMTC-enhanced, often subordinated product. This financing structure will result in businesses receiving loans characterized by several concessionary features.
TA (2004) - $45,000
National Community Investment Fund (NCIF) will use the award to obtain purchasing software that will create the infrastructure of its Management Information System. The software will allow NCIF to track increased capital raising and investing activities.
TA (2003) - $50,000
NCIF received a Technical Assistance grant in the amount of $50,000 to obtain consulting services to develop a market analysis, and to purchase computer software.
NMTC (2003) - $1,315,000
NCIF will use its NMTC allocation to raise additional capital to deploy in flexibly priced equity, equity-like, debt, and participation loan investments in depository Community Development Entities (CDEs) serving communities that have limited access to credit and financial services. The NMTC allocation will provide investors with a cushion against the higher risk of financing institutions operating in highly distressed communities. This significantly increases the amount of capital NCIF can raise, the number of communities it can serve by investing in an effective local depository CDE, and the scale of lending those depository CDEs can achieve. This NMTC allocation will allow NCIF to raise capital on flexible terms, which it will pass on to depository CDEs as lower interest rates and seven-year interest-only terms, and to develop new product lines.
FA (2003) - $1,315,000
National Community Investment Fund (NCIF) will use the Fund"s $1,315,000 award to implement its business plan which calls for investing $7.8 million over the next three years in up to 28 low-income credit unions and development banks that provide affordable homeownership opportunities and retail financial services in Hot Zones. This strategy aims to help close the homeownership gap for minority and low-income households in particularly distressed markets by stimulating low-income credit unions and selected banks to increase affordable mortgage production. This will result in over 250 new mortgages. Approximately 100% of this award will be targeted to Hot Zones.
Other Community Development Financial Institutions in Illinois
ACCION Chicago
Chicago
Bethel New Life, Inc
Chicago
Chicago Community Ventures
Chicago
Chicago Development Fund
Chicago
Community Revitalization Fund, Inc.
Hoffman Estates
IBC Bancorp, Inc.
Stone Park
IBC Community Development Corporation
Stone Park
Illinois Ventures for Community Action
Springfield
NAB Bank
Chicago
Peoples Economic Development Corporation
Mount Vernon
PGB Holdings, Inc
Chicago, IL
Sable Bancshares, Inc.
Chicago
The Valued Advisor Fund, LLC
Chicago
Urban Development Fund, LLC
Chicago
Urban Enterprise Fund
Chicago
Featured Government Grant Resources
The Secret to Acquiring Business Grants
Business grants could be one of the most important financial tools that nearly all businesses would need. They may not be the single most significant support businesses could have, but they can get definitely help you start the business right....
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
When it Comes to Social Enterprises, Failure is the Best Platform for Innovation
In the world of social enterprises, failure is a cringe-worthy moment nobody wants to talk about. But, social entrepreneurs can benefit from their failures.
