NCIF has piloted its Small Business Transaction Initiative (SBTI), an innovative lending program designed to equip mission-oriented lenders to provide small business lending deals of $1-5 million in minority and low- and moderate-income communities at highly competitive rates using New Markets Tax Credits (NMTC). The program is part of NCIF’s 3-Way Partnership Strategy, leveraging the local knowledge and presence of mission-oriented banks in the NCIF Network and large bank investor interest. Standardized systems and operations at NCIF have resulted in lower transaction costs, benefitting both banks and borrowers, as well as the fulfilment of community impacts that would have not previously been possible.
This lending program was presented during NCIF’s 2015 Annual Development Banking conference during the lending breakout sessions. With several mission-oriented banking executives sharing their insights into the benefits of the program, the SBTI is position to expand lenders’ ability to serve impactful small businesses within underserved communities across the country.
Download more information on this program here: NCIF Small Business Transaction Initiative
Above: William Keller (President and CEO, Community Bank of the Bay), Guillermo Diaz-Rousselot (President and CEO, Continental National Bank), Preston Pinkett, III (Chairman and CEO, City National Bank of New Jersey), Marina Titova (Vice President and Portfolio Manager, NCIF), and Terry Burm (Vice President, Lending and Strategic Initiatives, NCIF).