Rural LISC's Suzanne Anarde on the Growing Rural Communities Fund
submitted by New Markets Tax Credit Coalition
on 07/25/17
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Rural LISC Program Vice President Suzanne Anarde discusses Rural LISC’s new Growing Rural Communities Fund (GRCF) in an interview with RFD-TV’s Janet Adkison broadcast live on January 6. GRCF is an innovative new financing tool using New Markets Tax Credits for smaller projects in eligible New Markets areas for economic development projects. Using $7.5 million of LISC’s New Markets Tax Credit (NMTC) allocation, the GRCF offers seven-year mini-permanent loans with a 2 percent interest rate and a three-year interest-only period. Projects can be financed from $250,000 to $2 million.
