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#1
09-20-2007, 12:17 PM
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CDEs Loan to Revolving Loan Funds
I represent a revolving loan fund which has a pending loan/investment from a New Markets Tax Credit CDE.
* The loan is being made to the CDFI and a number of questions have developed, pre-closing, regarding compliance reporting and the work involved with that reporting. Due to the small loans made by the CDFI in the form of pre-development loans to developers of affordable home ownership housing, my client has concerns that the compliance function may cost more that the value of the loan received. * So, are there any Loan Funds or Borrowers through the New Market Tax Credit Fund that have faced similar challenges with compliance reporting under the NMTC program? Has anyone developed software or manual systems that might make analysis and reporting efficient and cost-effective? * Thanks in advance for any advice that members of the list may provide. * _____________________ David Freed Consultant 438 Sackett Street Brooklyn, NY 11231 _____________________ dfreed@mindspring.com 240-351-1124 =================== This post transferred from the cdb-l mailing list 
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