The loans include term loans, lines of credit and commercial mortgages. Loan proceeds can be used for purchasing inventory, machinery and equipment, land and buildings and for working capital. The critical element of the program is the link between the SBA-backed loans and the technical assistance that will be funded by lenders and provided by NCRC member organizations. The Community Express pilot program is part of SBA s New Markets Initiative, which is designed to spur economic development and job creation in untapped rural and inner city communities with venture capital, commercial loan credits and technical assistance. NCRC is a nonprofit trade association comprised of 680 dues-paying community development and advocacy groups.
Members are committed to revitalizing distressed communities.
NCRC s mission is to ensure fair and equal access to credit, capital and banking services and products to these communities. NCRC seeks to develop and support long-term solutions that provide resources, knowledge, and skills to build community and individual net wealth.