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Mid-City Community CDE, LLC
Bethesda MDCDFI Awards for Mid-City Community CDE, LLC
NMTC (2009) - $60,000,000
Mid-City Community CDE, LLC’s (Mid-City) business strategy is to provide flexible and subsidized equity and debt for the acquisition, development or renovation of commercial, mixed-use and community facility projects. A significant portion of Mid-City’s activities will be tailored to address the liquidity shortage facing CDFIs and community development banks by providing flexible and subsidized terms in the purchasing of loan portfolios from eligible CDEs. Mid-City will also serve as a mentor to smaller project sponsors that work in highly distressed communities and are being left behind as a result of the current economic crisis.
NMTC (2002) - $36,000,000
Mid-City will utilize its NMTC allocation to provide the following products and services: 1) real estate loans and equity investments; 2) local franchise equity investments, which will provide equity capital to disadvantaged individuals/entities seeking to own and operate franchises in underserved urban markets; 3) lines of credit for minority contractors and organizations promoting workforce development; 4) infrastructure gap loans, which will provide gap financing for the public infrastructure of streets, water and sewer and other amenities of large redevelopment projects; and 5) community facilities loans. The Allocatee believes the NMTC Program will allow it to offer more flexible and favorably priced financing, especially to difficult to finance projects and borrowers.
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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Small Business Administration's Loan Guarantees Program
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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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