NMTC Loan Types

While almost any type of loan is eligible, NMTC loans primarily fall into the following categories:

• Loans for new construction and/or the substantial rehabilitation of commercial properties, including acquisition costs
• Permanent "take-out" financing of new construction and/or substantial rehabilitation, including acquisition costs
• Loans to acquire owner-occupied commercial real estate (when both the landlord and tenant are related parties and qualified borrowers). Types of owner-occupied loans include simple acquisition of an existing building, new construction, and/or acquisition and renovation of an existing building
• Loans to acquire equipment or other assets
• Loans for new construction and/or the substantial rehabilitation of homes or condominiums for sale (as opposed to loans for the construction of residential rental units, which do not qualify)
• Debt refinancing will not usually satisfy NMTC requirements, except for: (i) permanent "take-out" refinancing of recently completed new construction and/or substantial rehabilitation; and, (ii) owner-occupied loans, when both landlord and tenant are related parties and qualified borrowers.