This week REDC President Laurel Adams was interviewed on the Down to Business Podcast, hosted by the NH Business Review.
Laurel discussed how the New Americans Loan Fund began, how it helps new Americans start and grow their businesses, and the importance of this kind of programing in our state's economic growth and vibrancy.
She also spoke about the current need of recapitalizing the loan program and the opportunity NH businesses have to support the NH New Americans Loan fund through the CDFA Tax Credit program.
Listen now! http://ow.ly/1HuP50Hpz0r
Learn more about the New Americans Loan Fund and how you can help here: https://www.redc.com/newamericanloanfund
Organizations that want to help support the NH New Americans Loan fund can donate through the CDFA Tax Credit Program. Companies who donate get 75% of that contribution back in the form of a state business tax credit. For example, if a donor makes a $25,000 donation to CDFA on behalf of the NH New Americans Loan Fund, their company will receive a state tax credit in the amount of $18,750. The tax credit may be applied against the donating company's business profits tax, business enterprise tax, and/or the insurance premium tax. The contributing company may carry forward the credit for up to five years, as well as select which business tax and how much of their credit to apply towards their taxes in any given year. C corps may also be eligible to claim this donation as a charitable contribution, bringing the net costs to approximately $.14 on the dollar.
For companies interested in supporting the NH New Americans Loan Fund through the CDFA Tax Credit Program via a future pledge, or by making a direct donation, please contact REDC President Laurel Adams at 603-772-2655 or Laurel@REDC.com.