Heartland Renaissance Fund (HRF) provides debt or equity investment capital to a variety of businesses and projects. Heartland Renaissance Fund’s flexible financing products are compatible with many commercial projects including commercial real estate, new business ventures, and business expansions or equipment purchasing. Heartland Renaissance Fund provides financing to projects with demonstrable community impacts and structures each of its investments to provide the maximum benefit to the project.
Heartland Renaissance Fund’s investments are structures to provide many of the following characteristics:
Heartland Renaissance Fund’s team members have more than 45 years of experience providing services working with business and structuring investment capital for innovative, early-stage and high-growth companies in a wide variety of industries. Combined team member transaction experience exceeds 1.1 billion dollars. Heartland Renaissance Fund will leverage its relationships with other financial and lending institutions and economic development entities to create successful ventures for the stakeholders.
Advisory services currently offered include:
To be eligible for NMTC financing, the business must be located in a Low Income Community as defined by the CDFI Fund. A Low Income Community is defined as a Census Tract with a poverty rate of at least 20%, or a median family income of less than 80% area median, or a non-metropolitan census tract having certain indicia of distress using 2010 Census data. The CDFI Fund is currently updating its eligibility mapping program to incorporate the decennial census for NMTCs. Under the transition rules issued by CDFI, we are utilizing the 2006–2010 America Community Survey to qualify projects for NMTCs until the census tract mapping is fully incorporated by CDFI.
Arkansas lawmakers passed HB1832, the Arkansas New Markets Tax Jobs Act, which was created to help companies that meet certain criteria receive financing at below-market rates. The Act encourages private sector investment in small businesses, particularly in low-income regions, by providing tax credits tied to private capital investments.
Arkansas Capital Corporation has applied to participate and is expecting to receive a sizable Quesportion of the $166 million state allocation. Arkansas Capital is now actively seeking projects eligible for investment.
Arkansas Capital partners with an organization’s local community bank and works with developers to identify and access alternative project financing options such as the New Markets Tax Credits in a joint effort to create successful ventures for Arkansas.
Companies that are planning to expand and create or retain jobs or companies that are facing financial challenges, are encouraged to contact Arkansas Capital Corporation to see if these New Market Tax allocations can be beneficial to their organization.
The Arkansas New Markets Tax Credit Allocation:
Companies must have a job creation or retention aspect and show a positive economic impact to the state’s economy through an econometric model.