This is one of the most important programs for NCIF as a CDFI and an Impact Investor. From our perspective, there are three key levels of impact:
1. Transactional Impact – the program helps creates and retains jobs, increases the availability of goods and services, healthy foods and financial and social services to underserved markets nationally. NCIF has invested about $275 million in these communities creating about 11,000 jobs. Many of our transactions are catalytic in nature i.e. they help spur other developments in housing, healthcare, education and small business development, all of which add jobs and create economic opportunities.
2. Institutional Impact – as part of NCIF’s strategy, we work with our large network of CDFI and Minority Banks (NCIF is the largest investor in the sector) that act as anchors in these communities. Thus the transactional impact is amplified and creates long term sustainable communities.
3. Knowledge Impact: We have tried to simplify the deployment of the NMTC to help organizations maximize the subsidy given to the borrowers. This helps in accelerating development in some of the most distressed markets nationally.