Commitment to Action

Scaling the Community Development Banking Sector

Commitment by

National Community Investment Fund

In 2013, the National Community Investment Fund committed to increasing its investments into low-income communities by a minimum of $50 million over the next three years. In addition to increasing assets under management, NCIF will also build the community investing sector through knowledge transfer, peer-to-peer networking, and new research into business models and social performance metrics that will expand financial products and services in distressed communities. The commitment of $50 million will be reached through a combination of new equity investments into Community Development Banking Institutions-depository institutions that have a mission of operating in underserved markets-and the financing of high-impact real estate and small business transactions utilizing New Markets Tax Credits. NCIF's project and small business financing will support high-impact community facilities and small businesses in highly-distressed neighborhoods throughout the country and will result in more than 700 new jobs created or retained.

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Overview
Summary

Commitment

Scaling the Community Development Banking Sector

Launched

2013

Est. Duration

3 Years

Estimated Total Value

$50,000,000

Region

Northern America

Countries

United States

Commitment by

National Community Investment Fund