New Markets Tax Credits for Community Impact

Eleazar Bueno of Empanadas Monumental smiles as customers entering his small business

Eleazar Bueno, Empanadas Monumental, New York City

Lendistry has been allocated New Markets Tax Credits (NMTC) by the U.S. Treasury’s CDFI Fund to give historically underserved small businesses a chance to receive lower-cost financing than they’ve had access to in the past. We’ve partnered with Monge Capital, a minority business entity, to attract traditional investors to the underbanked business community.

Illustration of diverse people shopping at a grocery store in a low income neighborhood

Increased Health and Prosperity Through Small Businesses

We target historically disadvantaged organizations that create pathways to high-quality living wage careers for their low-income residents. This includes multi-service community organizations that provide access to quality services, including healthcare and education, as well as commercial facilities that increase access to commercial goods and services, including healthy foods.

Small Business Loan Fund

Lendistry’s Small Business Loan Fund provides flexible and innovative small business loans to Qualified Active Low-Income Community Businesses.

Eligible purposes, including but not limited to:

Inventory Purchase
Working Capital
Equipment Purchase
Property Improvements

Financing Terms:
Loan size: Up to $4 million
Loan term: Up to 5 years

Subordinate Loan Fund

The Subordinate Fund is designated to financing eligible real estate asset types in Low Income Communities (LICs).

Eligible Asset Types:

Healthcare
Education
Youth services
Grocers
Multi-service community organizations
Commercial facilities with
community goods & services
(not for real estate investment purposes)

Financing Terms:
Loan size: $5 million — $10 million

Who Can Apply for These Low-Cost, High-Impact Funds?

Lendistry’s NMTC allocation is designated for communities in highly distressed,
underserved areas with one or more of these characteristics:

  • Poverty rates greater than 30%
  • Median income less than 60% of area median income
  • Unemployment rates at least 1.5 times the national average
  • Targeted for major/minor urban areas of California, Florida, Maryland, New Jersey, New York, Pennsylvania, Puerto Rico or CDFI designated underserved states
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