New Markets Tax Credits
The New Markets Tax Credit Program was designed to increase the flow of private sector capital to businesses, nonprofits, community facilities, and other important projects into communities suffering from a lack of investment. NMTCs incentivize investment in organizations with a proven record of successful community development financing, and facilitate the completion of large-scale projects that would otherwise not be financed.
SCCLF's NMTC Allocation
SCCLF will receive a $15MM NMTC allocation in 2020 and is the only South Carolina-based allocatee in this year's funding round.
We received our first allocation in 2019, and were the only new allocatee from that funding round. We successfully deployed $20MM in tax credits to fund community facilities across the state, including:
A Flexible Approach to Financing
SCCLF can provide lending that supplements or supports NMTC allocations to help you get your project to market, such as bridge loans and gap financing. For all NMTC inquiries, contact Upstate Community Development Loan Officer Brendan Buttimer.