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Great Lakes Capital Fund

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Since its inception in 1993, Great Lakes Capital Fund, a nonprofit corporation, has raised capital to promote economic development. GLCF has used its resources to create economic development opportunities in and around where they developed and invested in housing. With a holistic approach they have been able to build a very successful platform on a large scale in managing NMTC funding and other business development resources. Its service area has expanded to states throughout the Midwest and Mid-Atlantic region with the joining of DCIC.

GLCF and its direct affiliates have:

  • Raised and invested over $2.5 billion
  • Developed over 600 apartment communities (over 39,000 housing units)
  • Developed over 1 million square feet of commercial spaced in distressed low-income communities through New Markets Tax Credits and other financing resources
  • Has received over $109 million in New Market Tax Credit allocations
  • Manages $250 million in NMTC investment for a Michigan Community Development Entity and a National Investor based in New York.
  • Enhanced lending capacity to provide lending through Fannie Mae, a FHA correspondent relation, a Pension Fund, a bank line of credit, its own funds and a $4 million Capital Magnet Fund awarded from the Community Development Financial Institution (CDFI) .
  • Broker state and federal credits and deploying foundation grants further enhance its community development activities.
Develop Michigan 1118 S. Washington • Lansing, MI 48910  • Tel: (517) 364-8951  • info@developmichigan.net
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