National City New Market Fund, Inc.

Cleveland OH


National City New Market Fund Inc (NCNMF) provides financing through equity, loans and other financial services to qualified businesses, non-profits and real estate development projects. NCNMF"s activities serve as a catalyst for economic development in disadvantaged areas by attracting new businesses and social service providers and by developing new for-sale housing, commercial and mixed-use real-estate projects. NCNMF will offer highly flexible terms and conditions that pass significant benefits to its borrowers/investees, including: equity with minimal expected cash returns; interest rate reductions up to 300 basis points below market; seven-year interest-only periods, and lower than standard origination fees.

CDFI Awards for National City New Market Fund, Inc.


NMTC (2007) - $75,000,000

National City New Market Fund Inc (NCNMF) provides financing through equity, loans and other financial services to qualified businesses, non-profits and real estate development projects. NCNMF"s activities serve as a catalyst for economic development in disadvantaged areas by attracting new businesses and social service providers and by developing new for-sale housing, commercial and mixed-use real-estate projects. NCNMF will offer highly flexible terms and conditions that pass significant benefits to its borrowers/investees, including: equity with minimal expected cash returns; interest rate reductions up to 300 basis points below market; seven-year interest-only periods, and lower than standard origination fees.



NMTC (2006) - $125,000,000

National City New Market Fund, Inc. (NCNMF) provides financing through equity, loans, venture capital, and other financial services to qualified businesses, non-profits and real estate development projects located in low-income communities throughout the United States. NCNMF will utilize the NTMC allocation to enhance the products and services offered by its Controlling Entity through one or more of the following: interest rate reductions of up to 300 basis points below market; equity without expected cash returns; subordinate debt of up to 100% of loan-to-value ratios; seven year interest-only periods; and lower than standard origination fees.



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