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.
To verify if your project or business qualifies, contact us.