NMTC financing helped convert a previously vacant, 9,950k sq. ft. building into a retail outlet specializing in used goods, furniture, antiques and vintage/home décor re-sale. The company also works with local entrepreneurs who lease booths for the resale of used goods, furniture, and others within the building.
Without refinancing and paying off the previous landlord, as well as new funds for renovations, the borrower could have been forced to consider moving. This would eliminate two (2) full-time jobs and the access to resale used goods to those residents in this area. Additionally, the closure of the business would result in the 25 vendors being without a facility to sell their goods.