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Enhanced Delta Community Development, LLC
New Orleans LACDFI Awards for Enhanced Delta Community Development, LLC
NMTC (2009) - $60,000,000
Enhanced Community Development, LLC (ECD) provides loans to and equity investments in businesses in New Orleans, New York and Washington, DC. The NMTC allocation will enable ECD to offer more favorable products to investees and borrowers, including not-for-profit organizations. Specifically, ECD will offer senior debt, subordinated debt and equity products with interest rates that are generally 25 to 50 percent below market. ECD will also use lower than market origination fees, longer than standard interest-only periods, higher than standard loan-to-value ratios, more flexible borrower credit standards, non-traditional forms of collateral, and lower than standard debt coverage ratios.
NMTC (2006) - $25,000,000
Enhanced Delta Community Development (EDCD) is a partnership between Enhanced Capital Partners and the Delta Regional Authority. EDCD will utilize it NMTC allocation to capitalize businesses in the federally-declared disaster area resulting from Hurricane Katrina -- specifically, the New Orleans metropolitan area. An allocation of NMTCs will allow EDCD to expand its current offering, offer more flexible and non-traditional forms of equity and debt financing and provide technical assistance to entrepreneurs and businesses located in New Orleans. Specifically, the NMTC allocation will allow EDCD to offer loans of up to 25% below current market rates, and equity investments with returns up to 25% lower than EDCD current standards.
Other Community Development Financial Institutions in Louisiana
ASI Federal Credit Union
Harahan
Capital One Community Renewal Fund, LLC
New Orleans
Dryades Savings Bank, FSB
New Orleans
Eagle Louisiana Federal Credit Union
Baton Rouge
Enhanced Delta Community Development, LLC
New Orleans
Liberty Bank and Trust Company
New Orleans
Liberty Financial Services
New Orleans
National Cities Fund, LLC
New Orleans
New Orleans Community Development Fund
New Orleans
NEWCORP Business Assistance Center
New Orleans
Red River Valley BIDCO, Inc.
Shreveport
Southern Mutual Financial Services, Inc.
New Iberia
Stonehenge Community Development, LLC
Baton Rouge
Whitney New Markets Fund, LLC
New Orleans
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