Left to Right: Katy Easterly Martey, CDFA Executive Director, and Col. William Davis, REDC Chairman of the Board.
REDC Receives $250,000 Tax Credit Award from CDFA
The NH Community Development Finance Authority announced on June 19, 2018 that the Regional Economic Development Center (REDC) is a recipient of a $250,000 tax credit award. These tax credits will be used to support REDC’s NH New American Loan Fund, which provides access to technical assistance and loans to first-generation Americans who are prospective or current business owners throughout the state.
The NH Community Development Finance Authority has awarded $4 million in tax credits to nonprofits throughout New Hampshire that are expected to have a significant, including projects that focus on economic development, downtown revitalization, and developing affordable housing.
Microloans made from the NH New American Loan Fund will be used for working capital, equipment acquisition, inventory, and renovations. In addition to microloans, part of what will make clients successful is REDC’s robust technical assistance, which can include discussing business plan development, business financials, partnerships, financial packaging recommendations, exporting and importing support, market research help, employee guidance, and marketing and graphic design startup support.
“Our tax credit awardees have demonstrated a strong commitment to delivering programs and services vital to New Hampshire communities that further enhance economic development, downtown revitalization, as well as affordable housing and childcare, and more,” commented Katy Easterly Martey, Executive Director, CDFA. “The Tax Credit Program is uniquely structured to enable effective, reliable deployment of public and private resources to our nonprofit partners. The result is the creation of long-lasting public-private partnerships that achieve critical local initiatives that enable our communities to be more resilient, vibrant places people want to work, live and visit.”
To purchase tax credits or learn more about this program, please contact Laurel Adams or Chris Duffy at 603-772-2655.