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Boston Community Capital Inc.
Boston MACDFI Awards for Boston Community Capital Inc.
NMTC (2009) - $85,000,000
Boston Community Capital, Inc. (BCC) will use its NMTC allocation to: (i) increase its current lending capacity and offer better rates and terms to borrowers; (ii) increase the volume of investments made in high-impact, primarily rural businesses; and (iii) grow new lines of business, including a residential foreclosure prevention and neighborhood stabilization program. BCC will focus in particular on projects that are likely to be located in rural areas, including forest products, renewable energy and consumer distribution businesses. The NMTC allocation will enable BCC to offer subordinated debt products with significantly reduced interest rates.
NMTC (2008) - $85,000,000
Boston Community Capital, Inc. (BCC) will use its NMTC allocation to make loans and investments in high-impact, primarily rural businesses, including renewable energy projects and manufacturing facilities. BCC intends to waive origination fees, offer subordinated debt products covering up to 95 percent of the value of the investment, and provide interest rates of up to 300 basis points below market.
NMTC (2006) - $60,000,000
BCC will use its NMTC allocation to provide loans to support businesses and real estate development in low-income communities. This award will enable BCC to provide more flexible terms to borrowers, such as below market interest rates, lower origination fees, higher loan-to-value ratios, and longer interest-only loan payment periods; and continue to expand its lending to underserved communities throughout its national service area. BCC will use this additional equity to create programs that will (1) pioneer the use of NMTC credits to finance small businesses by reducing transaction costs, and (2) create a secondary market in small business loans in highly distressed areas.
NMTC (2003) - $70,000,000
Boston Community Capital (BCC) will use its allocation of NMTCs to provide loans to support businesses and real estate development in low-income communities. As a result of the NMTC allocation, BCC will be able to, among other things: (1) significantly increase the volume of its lending activity; (2) provide more flexible terms to borrowers, such as below market interest rates, lower origination fees, higher loan-to-value ratios, and longer interest-only loan payment periods; (3) expand its service area to states such as New York, New Jersey and Pennsylvania; and (4) create a low-cost, sustainable source of loan capital and income that will allow BCC to achieve full self-sufficiency. BCC will also use the equity generated by its NMTC allocation to secure financing to support another credit facility, separate and apart from its NMTC fund, to provide additional financing to low-income communities. BCC is hopeful that this approach will provide a new, nationally replicable, collabor
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
Historically Underutilized Business Zones - HUBZone Empowerment Contracting Program
The Small Business Administration has established the Historically Underutilized Business Zones (HUBZone) Empowerment Contracting Program wherein they aim to provide federal contracting assistance to eligible small business corporations which are located in underutilized business zones so as to improve their employment opportunities, investments, and their area's economic development.
Small Business Administration Background
The Small Business Administration was established in 1953. Since that time the agency has dispensed millions of dollars in loans and loan guarantees, contracts, consulting assistance and other programs for small business across the United States.
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