Advantage Capital Awarded $60 Million Allocation in New Markets Tax Credit Program
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Thursday, September 2, 2021
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Venture capital firm and small business lender Advantage Capital today announced a $60 million allocation award in the highly competitive federal New Markets Tax Credit (NMTC) program.
Key Points:
- Venture capital firm and small business lender Advantage Capital today announced a $60 million allocation award in the highly competitive federal New Markets Tax Credit (NMTC) program.
- CDEs must apply annually to the CDFI Fund to compete for New Markets Tax Credit Program allocation authority.
- To learn more about the New Markets Tax Credit Program, please view the program Fact Sheet or visit www.cdfifund.gov/nmtc .
- In addition, the CDFI Fund has allocated $66 billion in tax credit allocation authority to Community Development Entities through the New Markets Tax Credit Program, and guaranteed bonds for over $1.7 billion through the CDFI Bond Guarantee Program.