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New Markets Tax Credit Program

Find out how we're transforming communities nationwide

Making high-impact loans and investments in underserved communities is critical. The New Markets Tax Credit (NMTC) program is a powerful vehicle for Wells Fargo to help meet the needs of these communities.
The NMTC program is a federal tax incentive authorized by Congress in 2000 to help spur the investment of capital in small businesses and commercial real estate located in communities of need. Through NMTC allocations, Wells Fargo reduces borrowing costs for non-profits and entrepreneurs, enabling higher risk loans and investments that shoulder collateral shortfalls and credit risks.

Eligible businesses

Community facilities
  • Charter schools & child care centers
  • Healthcare clinics
  • Community and performing arts centers
High-impact real estate development
  • Redevelopment projects
  • Mixed-use and transit-oriented developments
  • Neighborhood-serving retail
Job creation & small business finance
  • Owner-occupied facilities finance
  • Expansion capital

Eligible communities

Targeted communities are in highly distressed areas and generally have at least one or more of the following characteristics:
  • Poverty rates greater than 30%
  • Unemployment rates at least 1.5 times the national average
  • Median income less than 60% of area median income
  • Located in Empowerment Zones, Enterprise and Renewal Communities, HUB Zones and Brownfield sites
  • Located in a redevelopment project area