Commitment to Action

Job Creation and Community Revitalization Fund

Commitment by

Morgan Stanley

In 2014, Morgan Stanley, along with its partners, the Local Initiatives Support Corporation and CDC Small Business Finance, committed $25 million for an expansion of the Job Creation and Community Revitalization Fund. This fund is the first of its kind to combine the benefits of the SBA 504 program with New Market Tax Credits (NMTCs). The innovative fund structure allows for investments that are smaller than those associated with typical NMTCs, making the capital more flexible and responsive to the needs of small businesses in distressed areas of the U.S. This program allows small businesses to access affordable capital that otherwise would not be available to build and grow businesses - and consequently is expected to create more than 150 new jobs.

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Overview
Summary

Commitment

Job Creation and Community Revitalization Fund

Launched

2014

Est. Duration

2 years

Estimated Total Value

$25,000,000

Region

Northern America

Countries

United States

Commitment by

Morgan Stanley

Partner(s) of the Commitment Maker(s)

CDC Small Business Finance, Local Initiatives Support Corporation (LISC)