New Markets Tax Credits

The New Markets Tax Credit Program (NMTC Program) was established by Congress in 2000 to spur new or increased investments and job creation in low-income communities. PCDC received a $40 million NMTC allocation to provide low-cost, long term financing to develop primary care centers in economically distressed communities throughout New York State. The $40 million fund is expected to serve an estimated 110,000 patients each year, and will create some 525 permanent jobs and 365 construction jobs.

For more information, click here to submit a loan inquiry.

Summary of Terms
Purpose:	Financing at below-market interest rates for the construction or renovation of health centers in qualified census tracts in low income communities.
Allocation Size:	Up to $15 million
Loan Term:	7 years
Interest Rate:	Fixed
Repayment:	Interest only; no repayment in first 7 years