Analyst Specialty Finance

The Importance of Source Loans

Over the past few years, I’ve had the unique opportunity of working for the Specialty Finance team at RDF. This experience has opened my eyes to the profound impact New Markets Tax Credits (“NMTC”) has provided to underserved communities across the country and also how vital Source Loans are to the NMTC Structure. For those of you that are unfamiliar with the NMTC Program, the NMTC Program “incentivizes community development and economic growth through the use of tax credits that attract private investment to distressed communities” (cdfifund.gov). Instinctually, you may ask, what does this mean, what is a Source Loan, …

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Raza Development Fund (RDF) is the largest national, Latino-focused nonprofit Community Development Financial Institution (CDFI). Driven by a mission to close wealth and opportunity gaps in Latino and other under-resourced communities across the United States, RDF provides responsible and attainable financial solutions to community-based organizations focused on health, education, affordable housing, climate resilience, homeownership, and entrepreneurship. RDF was founded in 1999 as a support organization to UnidosUS, the nation’s largest Hispanic civil rights and advocacy nonprofit, formerly known as the National Council of La Raza. As a testament to its exceptional financial strength and impact, RDF stands out as one of the few CDFIs with a prestigious AA- S&P rating. Since its inception, RDF has invested more than $1.3 billion across 38 states, leveraging over $6 billion in additional capital.

In accordance with federal law and U.S. Department of the Treasury policy, this institution is prohibited from discriminating based on race, color, national origin, sex, age, or disability. Submit a complaint of discrimination, by mail to U.S. Department of the Treasury, Office of Civil Rights and Equal Employment Opportunity , 1500 Pennsylvania Ave. N.W., Washington, D.C. 20220, (202) 622-1160 (phone), (202) 622-0367 (fax), or email crcomplaints@treasury.gov (email).