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CCG Community Partners, LLC
Princeton NJCDFI Awards for CCG Community Partners, LLC
NMTC (2008) - $20,000,000
CCG Community Partners, LLC (“Community Partners”) provides pre-development, mezzanine and primary debt to develop and rehabilitate real estate in predominantly urban and industrial low-income communities across the nation. The NMTC allocation will allow Community Partners to expand its financial products, including its recently implemented “seed money” mezzanine loan program, which enables critical early stage pre-development loans and construction financing with rates and fees that are at least 50% below market rate. Community Partners also encourages environmentally sustainable practices with its projects, in that most involve the culturally sensitive adaptive reuse of existing historic buildings.
NMTC (2007) - $40,000,000
CCG Community Partners (“Community Partners”) received an allocation of NMTCs for use in the recovery and redevelopment of the Hurricane Katrina Gulf Opportunity Zone. Community Partners provides below-market, flexible-term equity investments and loan products (both primary and mezzanine) to develop and rehabilitate real estate projects in primarily in urban core and industrial areas. These investments may be made to businesses that develop the projects or directly to the projects themselves in order to provide gap financing. Community Partners will also be offering a new “seed money” mezzanine product that enables critical early stage pre-development loans and construction financing on terms that are significantly below market.
NMTC (2005) - $50,000,000
CCG will use its NMTC allocation to provide equity investments and mezzanine loans for commercial real estate developments in urban core and industrial areas. Equity investments will be structured to provide returns that are up to 300 basis points below traditional market returns, and loans will be provided at rates 25% below market. CCG will focus on large-scale projects that can provide significant impact in these communities; projects that would not otherwise likely have been financed without the benefits of the NMTCs.
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Small Business Administration's Recovery Capital Loans
The Recovery Capital Loans Program provides financial assistance to small business with less than 500 employees to obtain a deferred payment loan from the agency, in order to meet existing debt payments, thereby giving the business the opportunity to refocus their business strategy.
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.
Social Entrepreneurship
Spotlight
Childcare Charitable Group Named Top Social Enterprise
Employers For Childcare Charitable Group (EFCG), a Lisburn-based charity, has been crowned top Social Enterprise at the Ulster Final of 2014’s Ulster Bank Business Achievers Awards. EFCG seeks to “make it easier for parents with dependent children to get into work and to stay in work.”
