Resilient Communities Fund
The Resilient Communities Fund will provide loans to borrowers that require lower interest rates and more flexible terms.
- Loan amount typically between $500,000 and $2 million
- Loan term is seven years (prepayment is prohibited until year seven)
- Interest only with balloon repayment in year seven
- Interest rate is 3.25 percent
- Borrower must demonstrate need for the low interest rate or other flexible terms.
- Borrower must be located in an NMTC-defined severely distressed census tract(s).
- Projects should expand or enhance services for low-income people in health, human services, criminal justice, homeless services, youth, education, or workforce
- Priority will be given to borrowers in New York, Bay Area, Los Angeles, Memphis, or Philadelphia.