CDFI Fund Report: CDEs Disbursed $38.5 Billion in Qualified Equity Investments through 2014

Thursday, August 11, 2016 - 8:45am

The Community Development Financial Institutions (CDFI) Fund today released data on new markets tax credit (NMTC) investments through fiscal year (FY) 2014.  A summary report of the data published by the CDFI Fund says that through the first 12 application rounds of the NMTC program, community development entities (CDEs) disbursed nearly $38.5 billion in qualified equity investment (QEI) proceeds to 4,451 qualified active low-income community businesses. Of that investment amount, 66.9 percent was in real estate development and leasing activities, 31.4 percent was in operating businesses and 1.6 percent was in other financing purposes. About 73.7 percent of investments went to projects in census tracts that met one of three indicators of “severe distress” and 24.9 percent of investments went to projects in census tracts that met all three indicators of “severe distress.”