Kennedy Sutherland Represents Non-Profit in New Markets Tax Credit Financing

Kennedy Sutherland LLP is pleased to announce the firm successfully represented ACCION Texas, Inc., a certified Community Development Financial Institution  which provides loans to small business owners who lack access to commercial credit and development services, in obtaining a $6.1 million New Markets Tax Credit loan to construct their new headquarters and a Lending and Learning Center in San Antonio, Texas. The funding will be used to build space for a variety of small business concepts and start-ups to develop, with the help of ACCION’s on-site business support staff.

ACCION Founding President & CEO Janie Barrera was most gratified.  “With our rapid growth, we have run out of space. Now we have funding in place to promptly build the entire campus as a single project. This is the boost we needed.  We are grateful to PeopleFund for awarding its NMTC to us and to Capital One for providing construction financing to allow us time to complete our Capital Campaign.  Now our goal will be to continue to raise funds under the Capital Campaign to quickly eliminate all of the construction debt so that we have a debt-free campus in as short a time period as possible.”

Read More: atxpressreleasev6

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