New Market Tax Credits

BCC’s New Markets Tax Credit (NMTC) program invests in community and economic development projects that create jobs and opportunities in economically distressed communities nationwide. 

To date, BCC has received seven NMTC allocations totaling $468 million from the U.S. Department of Treasury.  We have deployed six of these allocations in 22 transactions in 16 states across the U.S., including sustainable forestry projects in West Virginia, Maine, California, Washington and Oregon; a sweet potato processing plant in rural Louisiana; commercial real estate in distressed communities in Texas and North Dakota; and a charter school serving low-income students in Dorchester, Massachusetts. Our investments have allowed these projects to leverage over $1.3 billion in additional capital to their communities. 

BCC’s Loan Fund also makes NMTC leverage loans to support community health centers, child care facilities and charter schools.

BCC uses earnings from our NMTC awards to launch new initiatives and expand our core lending programs, including our Loan Fund, our SUN Initiative and our Energy Advantage Program.

Investment Strategy:

In investing our NMTC allocations, we

  • Seek projects large enough to support and strengthen local industry and diversify a community’s economic base;
  • Work with co-lenders and investors with deep experience in the industries and regions in which we are investing; and
  • Structure and price our investments to match the businesses’ or projects’ needs with long-term capital and investment strategies likely to generate sustainable social and financial returns.

Flexible capital for businesses and community facilities

BCC’s NMTC investments provide debt and equity capital with the following flexible features:

  • Below market interest rates
  • Lower than standard origination fees
  • Longer than standard period of interest-only loan payments
  • Higher than standard loan-to-value ratio
  • Longer than standard amortization period
  • More flexible borrower credit standards
  • Lower than standard debt service coverage ratio



BCC’s NMTC program has a national footprint. We seek out businesses and community development projects in highly distressed rural and urban communities.  To date, 90% of our NMTC investments have been in non-metropolitan counties.

BCC currently has NMTC loans in the following states:

  • California
  • Kentucky
  • Louisiana
  • Maine
  • Massachusetts
  • New Hampshire
  • New York
  • North Carolina
  • North Dakota
  • Oregon
  • South Carolina
  • Texas
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Alabama
  • Mississippi


Our Impact:

Our work helps preserve affordable housing, save homes, extend education, build communities, conserve our natural resources, and grow businesses.

View all Impact Stories.


For more information:

To learn more about the NMTC program, visit the CDFI Fund’s NMTC page.

If you would like more information, please contact Emily Kaminsky at



  • Low-income communities and residents need and are entitled to the same expertise and the same expectations of excellence that are available to their wealthier neighbors.

  • Isolation is the hallmark of unhealthy communities and organization. We endeavor to stand at the intersection of multiple constituencies and to work to break through silos.

  • Asking the right questions is a root source of leadership. As our world evolves, our questions must evolve.

  • "We must be the change we want to see in the world." -Mahatma Gandhi

  • Since 1985, BCC has invested more than $1 billion to support
    organizations and businesses that benefit underserved communities.