SCCLF Receives One of 73 NMTC Allocations


The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced last week that South Carolina Community Loan Fund (SCCLF) will receive $20 million in New Markets Tax Credits . The New Markets Tax Credits allocation will spur investment and economic growth in low-income and rural communities across South Carolina. SCCLF is one of only 73 organizations nationwide awarded tax credit allocations through the 2018 New Markets Tax Credit Program (NMTC Program) round.

The $20 million marks SCCLF’s first New Market Tax Credits allocation, and will be used to help finance community development projects and create jobs across South Carolina. SCCLF will work with community organizations, developers, and municipalities to support projects that will serve South Carolina communities in need of investment. SCCLF was the only new awardee in the 2018 NMTC Program Round.

For more information on the NMTC Program and SCCLF’s allocation, contact Brendan Buttimer, Community Development Loan Officer, at brendan@sccommunityloanfund.org.
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