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Massachusetts Housing Investment Corporation
Boston MACDFI Awards for Massachusetts Housing Investment Corporation
NMTC (2006) - $90,000,000
The Massachusetts Housing Investment Corporation (MHIC), a certified CDFI , will use this NMTC allocation to providing financing to support commercial real estate acquisition and development and to spur revitalization of the state’s most distressed, low-income communities. The NMTC allocation enables MHIC to offer interest-only construction and permanent first mortgage loans, zero to 5% interest-only subordinate loans, and equity investments that represent up to 25% of total project costs (40% when combined with Historic Tax Credits). Eligible projects will include community centers, office and retail space, theatres and performing arts centers, public markets, community health centers, artist studios and gallery space, light industrial/small business centers as well as other projects.
NMTC (2005) - $54,000,000
The Massachusetts Housing Investment Corporation (MHIC), a certified CDFI, will use its NMTC allocation to provide financing to support commercial real estate acquisition and development. The NMTC allocation will enable MHIC to offer interest-only construction and permanent first mortgage loans, zero to 5% interest-only subordinate loans, and equity investments that will represent up to 25% of total project costs. Eligible projects include community centers, office and retail space, theatres and performing arts centers, public markets, health centers, artist studios and gallery space, and light industrial/small business centers.
NMTC (2003) - $90,000,000
The NMTC allocation will enable MHIC to offer interest-only first mortgage loans, zero to five percent interest-only subordinate loans, and NMTC-driven equity investments that represent up to 25 percent of total development costs.
CORE (1999) - $1,000,000
The CDFI Fund"s $1,000,000 capital grant will allow MHIC to take on more complex and targeted projects through a new subsidiary, MHIC Capital Corporation.
Other Community Development Financial Institutions in Massachusetts
ACCION USA
Boston
AI Wainwright LLC
Boston
BCLF Ventures II, LLC
Boston
Institute for Community Economics
Springfield
Jobs for Fall River, Inc.
Fall River
Local Enterprise Assistance Fund
Brookline
MHIC, LLC
Boston
NOAH Community Development Fund, Inc.
East Boston
UECDF Corporation
Roxbury
WCHR Securities, Inc.
Worcester
YouthBuild Loan Fund
Somerville
Featured Government Grant Resources
Minority Business Enterprise Centers for Minority-Owned Businesses
The The Minority Business Development Agency has recently constituted the Minority Business Enterprise Centers (MBEC) Program wherein it aims to support minority-owned businesses by providing them with electronic and one-on-one business development services for a reasonably nominal fee.
Small Business Administration Background
The Small Business Administration was established in 1953. Since that time the agency has dispensed millions of dollars in loans and loan guarantees, contracts, consulting assistance and other programs for small business across the United States.
Social Entrepreneurship
Spotlight
The U.S. Government on Cultivating Impact Investing And Social Enterprise
According to a Private Capital, Public Good report recently released at the White House from a group of A-list impact investing and social enterprise specialists, the U.S. government can do a lot to spur the growth among the impact investing and social enterprise sectors.
