Additionally, lenders will use expedited loan review and approval procedures to process these SBA-guaranteed loans. The loans include term loans, lines of credit and commercial mortgages. 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, 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.