New Markets Tax Credit Program

United Bancorporation of Alabama, Inc. Announces Third Quarter Results

Retrieved on: 
Friday, October 28, 2022
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ATMORE, Ala., Oct. 28, 2022 /PRNewswire/ -- (OTCQX: UBAB) - United Bancorporation of Alabama, Inc., parent company of United Bank, Town-Country United Bank, and UB Community Development announces its financial results for the period ended September 30, 2022.

Key Points: 
  • ATMORE, Ala., Oct. 28, 2022 /PRNewswire/ -- (OTCQX: UBAB) - United Bancorporation of Alabama, Inc., parent company of United Bank, Town-Country United Bank, and UB Community Development announces its financial results for the period ended September 30, 2022.
  • About United Bancorporation of Alabama, Inc.
    United Bancorporation of Alabama, Inc. (OTCQX: UBAB) is a $1.3 billion financial holding company that primarily serves Southwest Alabama as well as Northwest Florida.
  • United is a Community Development Financial Institution (CDFI), which recognizes its commitment to stimulating economic development in underserved communities.
  • United operates three subsidiaries: United Bank, Town- Country United Bank and UB Community Development.

Black Business Investment Fund Inc. receives $2 million grant from Truist Foundation and Truist Charitable Fund to provide capital for small businesses across Central Florida

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Thursday, October 27, 2022
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ORLANDO, Fla., Oct. 27, 2022 /PRNewswire/ -- Truist Foundation and Truist Charitable Fund today announced a $2 million grant to Black Business Investment Fund Inc. (BBIF), a community development financial institution (CDFI) built to foster the creation and expansion of Black businesses by providing loans, education and training services. The grant will help create BBIF's Revolving Loan Fund that will provide loan capital for small business lending, targeting BIPOC and underserved small businesses across Central Florida.

Key Points: 
  • The grant will help create BBIF's Revolving Loan Fund that will provide loan capital for small business lending, targeting BIPOC and underserved small businesses across Central Florida.
  • This grant is part of Truist and Truist Foundation's $120 million joint commitment to strengthening and supporting small businesses nationwide , with a focus on Black-, Latine- and women-owned businesses.
  • Funding from Truist Foundation and Truist Charitable Fund comes at a time when small businesses are looking for extra support following Hurricane Ian.
  • The Truist Charitable Fund is a donor-advised fund administered by The Winston-Salem Foundation and advised by Truist.

Five Points Community Capital, LLC Closes $7.76 million New Markets Tax Credit Supporting Expansion of Houston Meat Distributors, Inc.

Retrieved on: 
Wednesday, October 26, 2022
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Pasadena, the second largest city in the Houston MSA, is located about 20 minutes from downtown Houston.

Key Points: 
  • Pasadena, the second largest city in the Houston MSA, is located about 20 minutes from downtown Houston.
  • Houston Meat Distributors was founded in 2003 by Paul "Jeff" Martinez and Sonia R. Martinez with a small family loan.
  • Houston Meat Distributors was forced to relocate from its longtime office warehouse due to continued high repair costs, inefficient structural design, and an expiring lease.
  • View original content to download multimedia: https://www.prnewswire.com/news-releases/five-points-community-capital-l...
    SOURCE Five Points Community Capital, LLC

Crossroads Impact Corp subsidiary receives $125 million Treasury bond

Retrieved on: 
Thursday, October 6, 2022
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DALLAS, Oct. 6, 2022 /PRNewswire/ -- Capital Plus Financial, a community development financial institution, certified B Corp and wholly owned subsidiary of Crossroads Impact Corp, announced that it will receive a $125 million bond guarantee from the United States Treasury Department's CDFI Bond Guarantee Program, one of three guarantees totaling $355 million that the Treasury agreed to issue under the fiscal year 2022 round of the program. 

Key Points: 
  • DALLAS, Oct. 6, 2022 /PRNewswire/ --Capital Plus Financial, a community development financial institution, certified B Corp and wholly owned subsidiary of Crossroads Impact Corp, announced that it will receive a $125 million bond guarantee from the United States Treasury Department's CDFI Bond Guarantee Program, one of three guarantees totaling $355 million that the Treasury agreed to issue under the fiscal year 2022 round of the program.
  • Capital Plus Financial is one of only five CDFIs nationwide selected, and the $125 million bond issued on its behalf will be the largest of the year.
  • Capital Plus is the wholly owned subsidiary of Crossroads Impact Corporation (OTCQX: CRSS), a holding company focused on investing in businesses that promote economic vitality and community development.
  • Crossroads Impact Corp (OTCQX: CRSS) Crossroads Impact Corp's mission is to promote economic vitality through community development and equitable access to capital; harnessing the power for good to tackle systemic issues within underserved communities.

$852.5 MILLION OF EB-5 LOANS NOW REPAID IN NEW YORK CITY REGIONAL CENTER OFFERINGS

Retrieved on: 
Tuesday, October 4, 2022
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NEW YORK, Oct. 4, 2022 /PRNewswire/ -- The New York City Regional Center ("NYCRC") is pleased to announce the full repayment of another loan in its private placement EB-5 offerings.

Key Points: 
  • NEW YORK, Oct. 4, 2022 /PRNewswire/ -- The New York City Regional Center ("NYCRC") is pleased to announce the full repayment of another loan in its private placement EB-5 offerings.
  • A total of 1,829 I-829 petition approvals have enabled 5,291 individuals to secure permanent green cards via NYCRC offerings to date.
  • "We are proud to announce that $852.5 million has now been repaid in NYCRC offerings," said Paul Levinsohn, NYCRC Co-Managing Principal.
  • The NYCRC was the first EB-5 regional center approved in New York City.

Treasury Guarantees $355 Million in Bond Funding for Projects in Low-Income Communities

Retrieved on: 
Friday, September 30, 2022
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A total of more than $2.167 billion has been guaranteed since the inception of the CDFI Bond Guarantee Program, which provides long-term, fixed-rate capital for projects in low-income urban, rural, and Native communities.

Key Points: 
  • A total of more than $2.167 billion has been guaranteed since the inception of the CDFI Bond Guarantee Program, which provides long-term, fixed-rate capital for projects in low-income urban, rural, and Native communities.
  • Todays announcement marks a banner year for the CDFI Bond Guarantee Program, said CDFI Fund Director Jodie Harris.The $355 million in bonds issuances announced today is the largest in the programs history.
  • The FY 2022 program participants include:
    Community Reinvestment Fund, USA will issue a $100 million bond on behalf of Low Income Investment Fund (LIIF).
  • This is LIIFs third CDFI Bond Guarantee Program bond issuance, having also been a part of bond guarantees in both 2014 and 2016.

Clearwater Analytics Powers Sophisticated REIT Accounting and Reporting for New York-based Chimera

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Thursday, August 25, 2022
NYSE, Clearwater Analytics, View, RMBS, Solution, LinkedIn, Data management, REIT, Goal, Multimedia, Software as a service, Accounting, Company, Compliance, Twitter, Risk, Real estate investment trust, GAAP, Growth, Real estate, Bank, New Markets Tax Credit Program, Chimera

BOISE, Idaho, Aug. 25, 2022 /PRNewswire/ --  Clearwater Analytics (NYSE: CWAN), a leading provider of SaaS-based investment accounting, reporting, and analytics solutions, announced Chimera Investment Corporation (NYSE: CIM), an internally managed real estate investment trust (REIT) headquartered in New York City, has implemented Clearwater to provide investment data transparency while supporting sophisticated accounting requirements.

Key Points: 
  • BOISE, Idaho, Aug. 25, 2022 /PRNewswire/ -- Clearwater Analytics (NYSE: CWAN),a leading provider of SaaS-based investment accounting, reporting, and analytics solutions, announced Chimera Investment Corporation (NYSE: CIM), an internally managed real estate investment trust (REIT) headquartered in New York City, has implemented Clearwater to provide investment data transparency while supporting sophisticated accounting requirements.
  • "Clearwater demonstrated to us a solution built and ready to handle the complexity of our portfolio," saidKelley Kortman, Chief Accounting Officer at Chimera.
  • Clearwater's solution provides Chimera with automated investment data management, accounting, reporting, and analytics that is consistent, accurate, and fully transparent.
  • Clearwater Analytics is a global industry-leading SaaS solution for automated investment data aggregation, reconciliation, accounting, compliance, risk, performance,and reporting.

Equality Health Appoints Four Executives to Leadership Team

Retrieved on: 
Tuesday, August 16, 2022
HR, Blue Cross Blue Shield Association, CEO, Senior, PIO, Growth, Equality, Science and technology in Asia, Leadership, LLC, Communication, European Production Series, Compliance, Health, UnitedHealth Group, Marketing, General counsel, Risk management, Twitter, Talent management, CHRO, Centene Corporation, Diversity, VP, Chief ethics officer, Cigna, Government, NorthShore University HealthSystem, Solution, Equalize Health, Air Force Legal Operations Agency, LinkedIn, Pharmacy, Time, Inclusion, Product, Organization, Magellan Health, Management, Cassette tape, Facebook, New Markets Tax Credit Program, PHOENIX, Romey

PHOENIX, Aug. 16, 2022 /PRNewswire/ -- Equality Health, a leading provider of value-based physician networks uniquely equipped to address the needs of diverse and historically underserved populations, announced today the appointment of four key members of its executive leadership team. The new executives bring a wealth of experience in healthcare and other industries, with proven expertise in driving growth while leading high-performance teams.

Key Points: 
  • "Our ability to draw high-level talent of this quality to join Equality Health underscores the credibility, stability, and growth potential of our organizationand the importance of our mission," said Equality Health Founder and CEO Hugh Lytle.
  • Before joining Equality Health, Ruth held a series of progressively responsible HR leadership roles with Blue Cross Blue Shield of Minnesota, most recently serving as CHRO reporting to the CEO.
  • He joins Equality Health after serving as president of New Markets for AmeriHealth Caritas, and previously in leadership roles with Magellan Health, Cigna-HealthSpring, and UnitedHealth Group.
  • For more information about Equality Health, visit www.equalityhealth.com or follow @EqualityHealth on Facebook, @EqualityHealth on Twitter, and @EqualityHealth on LinkedIn.

MainStreet Bancshares Announces Formation of Community Development Subsidiary

Retrieved on: 
Wednesday, August 10, 2022
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FAIRFAX, Va., Aug. 10, 2022 /PRNewswire/ -- The board of directors of MainStreet Bancshares Inc. announced the formation of MainStreet Community Capital, its new community development subsidiary.

Key Points: 
  • FAIRFAX, Va., Aug. 10, 2022 /PRNewswire/ -- The board of directors of MainStreet Bancshares Inc. announced the formation of MainStreet Community Capital, its new community development subsidiary.
  • "Lifting up communities and unlocking their potential starts with investment, and we intend to use MainStreet Community Capital to leverage opportunity for underserved and underdeveloped areas in our market," said Jeff W. Dick, chairman and CEO of MainStreet Bancshares and MainStreet Bank.
  • MainStreet Community Capital has earned its designation as a Community Development Entity (CDE) as defined under the U.S. Treasury Department's Community Development Financial Institution (CDFI) Fund.
  • ABOUT MAINSTREET BANK: MainStreet Bank will launch its proprietary Fintech Banking as a Service (BaaS) solution called Avenulater this year to provide a comprehensive solution for the Fintech community.

Century Housing Supports Minority and Women Owned Affordable Housing Developers with New Special Purpose Credit Program

Retrieved on: 
Wednesday, August 3, 2022
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CULVER CITY, Calif., Aug. 3, 2022 /PRNewswire/ -- Century Housing is proud to announce the launch of the Century Emerging Developers Program, a Special Purpose Credit Program (SPCP) specifically targeting minority and women owned developers and preservers of affordable housing. This program will initially be funded by a dedicated credit facility provided by Chase in the amount of $15 million. Through this program, Century Housing will provide financing to minority and women owned developers who, because of organizational size, lack of capitalization or limited track records, have not had access to financing or to financing on the same terms as larger, more established developers.

Key Points: 
  • CULVER CITY, Calif., Aug. 3, 2022 /PRNewswire/ -- Century Housing is proud to announce the launch of the Century Emerging Developers Program, a Special Purpose Credit Program (SPCP) specifically targeting minority and women owned developers and preservers of affordable housing.
  • Century Housing provided early stage financing for what will eventually become a 61-unit affordable housing property across the street from a new metro station along the Crenshaw Line.
  • Net proceeds generated by the SPCP will be contributed by Century Housing to the Century California Fund (CCF).
  • For information on how to invest in Century Housing and its mission please visit the Invest page on our website: century.org/invest/
    For further information on Century Housing's Special Purpose Credit Program for minority and women owned affordable housing developers, please contact: