Veteran small business may finally get NMTC !

The Obama Administration is working on a set of regulatory reforms to the existing New Markets Tax Credit (NMTC) rules that will make it easier for community development entities (CDEs) to attract private sector funds for investment in startups and small businesses operating in low income communities.  The new regulations are designed to encourage a CDEs to invest in other types of small local businesses by relaxing the reinvestment rule requirements for CDEs investing in certain operating businesses. This could include Veterans utilizing the SBA Patriot Express Loan Program who are trying to  fund a small business or franchise. The Treasury Department intends to publish these proposed NMTC rules for comment in the near future.