Civic offers tailored capital programs to non-profits, businesses, projects, and community facilities that may not have access to traditional financing.
Our objective is to provide financing to projects or businesses in low-income neighborhoods, projects that support low-income residents, and projects that provide affordable housing and/or community facilities.
New Markets Tax Credit Program
The New Markets Tax Credit (NMTC) Program is a federal tax credit program that promotes investment in businesses and community facilities located in low-income communities. In exchange for a qualified equity investment, pursuant to the NMTC program requirements, an investor is provided a tax credit. The proceeds of the equity investment are utilized to fund low-income community businesses located in qualified low-income census tracts.
Community Development Loans
Civic’s Community Impact loans are targeted towards real estate development or community projects that provide community benefits such as health clinics or youth facilities. The loans typically range from $50,000 to $1 million with 6-8% interest rates and flexible terms and underwriting for businesses and nonprofits that can’t qualify for standard bank financing.
Housing and Commercial Loans
Civic’s Housing Impact loans and equity investments provide financing for affordable and middle-income housing with a focus on low-income communities. The loans and investments typically range from $250,000 to $1 million and have flexible rates and terms.
Building Business Success Program
The Civic Communities “Building Business Success Program” focuses on building the capacity of small businesses to competitively bid on procurement opportunities with public, private, and government institutions in San Diego County. The program provides working capital business loans to Minority Owned Businesses (MBEs) and Disadvantaged Businesses (DBEs) with flexible underwriting terms that are sensitive to the limited net-worth, collateral, and credit histories generally prevalent among MBEs/DBEs.