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New Markets Tax Credit (NMTC)


Reinvestment Fund’s New Markets Tax Credit (NMTC) program funds community and economic development projects in distressed communities by leveraging private-sector equity and loan capital investment to stimulate economic growth and create jobs in support of more equitable communities.

Our Priorities

Reinvestment Fund supports projects in severely distressed census tracts that provide essential services to their communities including health care, education, and access to healthy food. Additionally, we fund projects that serve as anchors for community revitalization which can include commercial development and housing. Above all, we prioritize projects that demonstrate commitment to the following objectives:

  • Racial Equity: Projects that advance equity and is focused on reducing racial disparities that stem from historic and systemic racism.
  • Community Inclusion: Underrepresented groups have access to and representation in your organization and/or in your project goals/design.
  • Climate Consciousness: Including energy efficiency, green building, clean energy sources, environmental remediation, and resiliency.

Projects We Support

Since 2004, Reinvestment Fund has received $603.4 million in NMTC allocations, which has helped support close to $1.1 billion in total investments in low-income communities. Our NMTC financing works through flexible features such as:

  • Subordinated debt
  • Below market interest rates
  • Lower than standard origination fees
  • Longer than standard period of interest-only loan payments
  • Higher than standard loan-to-value ratio
  • Longer than standard amortization period
  • More flexible borrower credit standards, and
  • Lower than standard debt service coverage ratio requirements.

As a Community Development Entity (CDE) and a Community Development Financial Institution (CDFI), Reinvestment Fund has the flexibility to meet a variety of financing needs by serving as a:

  • Bridge Lender
  • Leverage Lender
  • Direct Lender
  • Allocatee
  • Co-Lender


To submit a project for consideration, please download and complete Part One of our Intake Form. Completed forms can be emailed to


To learn more about Reinvestment Fund and NMTC, contact

Reema Fakih
Senior Director, New Markets Tax Credit
Capital Products for your Project Needs
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