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Community Development Funding, LLC
Columbia MDCDFI Awards for Community Development Funding, LLC
NMTC (2009) - $10,000,000
Community Development Funding, LLC, will invest in not-for-profit faith and community-based organizations seeking to establish new facilities nationwide. Products include Gap Loans, Predevelopment Loans capitalized from this allocation and previous allocations, and expert technical assistance in all aspects of building, acquiring and/or renovating a facility. Predevelopment Loans will be forgiven (i.e., convert to equity) if a project does not move forward. In service of the nation’s most distressed communities, the requested allocation will make Gap Loans more available and will also support larger and riskier Predevelopment Loans.
NMTC (2008) - $20,000,000
Community Development Funding, LLC (“CDF”) will utilize its allocation to assist nonprofit faith- and community-based organizations seeking to establish new facilities nationwide. Products include equity-like predevelopment loans and gap financing, in addition to expert technical assistance in all aspects of building, acquiring and/or renovating a facility. The flexible predevelopment funding offered by CDF, which converts to equity if a project does not move forward, combined with project-related technical assistance and gap financing, will give birth to projects and investments that would not otherwise occur.
NMTC (2007) - $12,000,000
Community Development Funding, LLC (CDF) received an allocation of NMTCs for use in the recovery and redevelopment of the Hurricane Katrina Gulf Opportunity Zone. CDF will utilize its allocation to assist nonprofit faith- and community-based organizations seeking to establish new facilities, particularly health care, education and social service facilities. Products will include predevelopment funding and credit enhancement in the form of subordinated loans for facilities, in addition to expert technical assistance in all aspects of building, acquiring and/or renovating a facility.
NMTC (2003) - $55,000,000
Community Development Funding, LLC (CDF) will utilize its NMTC allocation to assist nonprofit faith- and community-based organizations seeking to establish new facilities nationwide. Products will include predevelopment funding and credit enhancement in the form of subordinated loans for facilities, in addition to technical assistance in all aspects of building, acquiring and/or renovating a facility. With the NMTC allocation, CDF will be able to enhance current activities by: expanding loan products to include predevelopment funding; expanding the provision of subordinated "gap" loans; and targeting areas of severe economic distress.
NMTC (2002) - $25,000,000
The Allocatee will utilize its NMTC allocation to provide investments in nonprofit community benefit organizations in the form of low- or no-interest subordinated loans and to provide comprehensive initial project planning services to help nonprofits build or acquire new facilities. The organization believes the NMTC Program will help to stimulate new investment in facilities for nonprofit organizations that serve low-income communities.
Other Community Development Financial Institutions in Maryland
Advance Bank
Baltimore
Baltimore Community Lending, Inc.
Baltimore
CDF Development, LLC
Baltimore
Charter Facilities Funding, LLC
Clarksville
Community Development Ventures, Inc.
Baltimore
Development Credit Fund, Inc. (DCF)
Baltimore
ESIC New Markets Partners, LP
Columbia
Faith Fund, Inc.
Baltimore
First Combined Community Federal Credit Union
UPPER MARLBORO
Harbor Bankshares Corporation
Baltimore
Maryland Capital Enterprises, Inc.
Salisbury
McAuley Institute
Silver Spring
Mid-City Community CDE, LLC
Bethesda
Native American Capital, LP (NAC)
Silver Spring
Urban Research Park CDE, LLC
Hunt Valley
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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.
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