New Markets Tax Credits

Forward Community Investments’ New Markets Tax Credits Loan Program activates high-cost, socially impactful community facilities projects with low-cost, low-interest loans.

building exterior
Boys & Girls Club of Dane County McKenzie Regional Workforce Center: Madison, WI
children playing with fake leaves with parents
Children's Museum of Eau Claire; Eau Claire, WI

How Does FCI Use New Markets Tax Credits?

Forward Community Investments utilizes the New Markets Tax Credit (NMTC) Program to provide financing to nonprofit organizations developing community facilities that provide critical services to those areas in Wisconsin that need it most. Since 2014, our organization has been awarded and deployed over $170 million in Qualified Low-Income Community Loans throughout the state.

Proceeds from these loans have been used to construct and rehabilitate community facilities and commercial real estate projects that allow program providers and business owners to scale up services, create jobs, and build community assets.

Consistent with our mission to support community-led projects that work to address issues of racial inequality and socioeconomic disparities, we have invested in childcare facilities, YMCA recreational facilities, community health centers, charter schools, and youth arts and performance centers with our NMTC allocation. 

See our NMTC dollars at work

Madison, WI

Boys and Girls Club of Dane County McKenzie Workforce Center

$5.5MM Allocation

Project Completed July 2023

Eau Claire, WI

Children's Museum of Eau Claire

$4.5MM Allocation

Project Completed January 2023

Milwaukee, WI

Dr. Howard Fuller Collegiate Academy Middle and High Schools

Broke Ground Fall 2022

$15MM Allocation

Is NMTC financing right for your project?

FCI evaluates projects for NMTC financing based on the following criteria:

Census Tract Qualified

The project must be located in a qualified census tract as defined by the CDFI Fund.
Find out if your project is eligible here.

Development Costs

Target total development cost of project should be equal to or exceeding $5 million.

Addresses socioeconomic and racial disparities

Special consideration is given to projects that address issues of racial inequality and socioeconomic disparities in the community where the development is located.

For borrowers who have not accessed NMTCs previously, engaging a NMTC consultant is strongly encouraged. While we would love to fund every project that is a strong fit, due to the competitive nature of the program FCI receives far more interest in projects looking to secure subsidy than allocation that is available.

Get Started

If you believe your project is a good fit for receiving NMTC subsidy or if you have any additional questions about the program, contact us.

NMTC History

The New Markets Tax Credit Program was established by the United States Congress in 2000 with the primary goal of incentivizing private market investment in low-income communities in all 50 states. The Program has been responsible for more than $71 billion in direct investment nationally, with over 75% of those dollars going to highly distressed areas.

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We ignite the future of mission driven organizations and diverse developers by providing the financial support they need to thrive.


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Suite 326
Madison WI, 53713