NMTCs typically come with favourable interest rates and non-traditional financial terms and conditions, helping to attract investment from private entities, banks and corporations.
Investors then leverage the NMTCs to finance development projects in underserved and low-income communities, often in the form of affordable housing, educational and healthcare initiatives and small business support, under the ultimate goal of stimulating economic growth and powering new job creation.
This announcement marks the twelfth time Truist CDE has received NMTCs from the Treasury’s Community Development Financial Institution (CDFI) Fund, and it has been granted more than $750 million in allocation authority to date.
