Grow America

What Grow America does

Grow America (formerly the National Development Council, rebranded in 2023) is a nonprofit Community Development Financial Institution (CDFI) founded in 1990 and headquartered in New York City. The organization operates four integrated business lines: (1) direct small business lending through SBA 7(a) loans ($100,000 to $5 million) and the Community Impact Loan Fund (CILF) serving 30+ communities; (2) New Markets Tax Credit (NMTC) deployment with $974 million in cumulative allocation to projects in severely distressed census tracts; (3) affordable housing equity investment via the Corporate Equity Fund using LIHTC, Historic Preservation, and Renewable Energy tax credits, with 12,780+ housing units in portfolio across 30 states, Washington DC, and Puerto Rico; and (4) professional training and certification programs (EDFP, HDFP, RHDFP, CIFP) that have credentialed 85,000+ development finance professionals. The organization also provides technical advisory services to local governments, public agencies, and nonprofits across 103 communities.

The business model is hybrid: loan-related net interest income and fees from $3 billion+ in cumulative loan originations, structured deal fees from NMTC equity investments, corporate equity fund syndication fees on affordable housing projects, and certification/training fees (full programs priced at $7,100-$7,400). Customer segments are deliberately diversified across small businesses (with priority for women- and minority-owned and low-to-moderate-income community businesses), community development project sponsors, affordable housing developers, local governments, and nonprofit organizations. Distribution combines a self-serve online loan application platform, an inside sales team of dedicated lenders, a partner referral network spanning major financial institutions (Morgan Stanley, Wells Fargo, Chase, PNC, City National Bank) and grassroots community organizations, and direct field engagement for NMTC and affordable housing projects. The technology stack is not publicly disclosed, and the organization emphasizes a high-touch, relationship-driven lending model that considers the "story behind each business" rather than algorithmic underwriting.

Grow America's customer base is highly fragmented (no disclosed anchor customer, individual loans capped at $5M), with revenue diversified across lending, tax credit deployment, training, and advisory fees. The organization is governed as a nonprofit with multiple wholly-owned program subsidiaries (Grow America Fund, CILF, Corporate Equity Fund, NMTC Program) and has accumulated 35+ years of operational history, a national footprint, and institutional relationships that together form the basis of its competitive position in the niche CDFI and community development lending market.

Name

Grow America

Legal name

Grow America

Website

https://growamerica.org

Company type

Private

Founded year

1990

Operating status

Operating

Headcount range

101–250 employees

Short description

Grow America (formerly NDC) is a nonprofit CDFI providing small business loans, New Markets Tax Credit financing, affordable housing equity investment, and professional certification training to underserved communities, small businesses, local governments, and affordable housing developers across 103 communities in the United States.

Ownership category

akta.pro rank

Product category

Community Development Finance

NAICS

Grantmaking and Giving Services (81321), Educational Services (611), Educational Support Services (611710)

SIC

Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

Impact Investing & Social Finance (Funds, CDFIs, Microfinance) (BPAGALAA)

akta.pro secondary industry

SBA/Government-Backed & Development Finance Loans (FSAKAGAI)

Keywords

• Small business lending
• Community development finance
• Affordable housing equity
• Professional certification training
• New markets tax credits

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. SBA 7(a) Loans: Grow America originates SBA 7(a) loans ranging from $100,000 to $5 million for small businesses. Interest rates are competitive and determined during the application process. Terms extend up to 10 years for working capital/equipment or up to 25 years for real estate acquisition.
2. Community Impact Loan Fund (CILF): Specialized loan programs for small businesses in 30+ communities nationwide, including amounts from $100,000 to $5 million. Supports early-stage businesses, those owned by women or people of color, and those in low-and moderate-income communities.
3. New Markets Tax Credits: Grow America provides $974 million in New Markets Tax Credit allocation to bring investment to low-income communities. They help structure financing for projects in severely distressed census tracts and work with other NMTC partners to bring additional allocation.
4. Corporate Equity Fund - Affordable Housing: Syndicated multi-investor funds providing equity capital for construction and rehabilitation of affordable housing using Low-Income Housing, Historic Preservation and Renewable Energy Tax Credits. Portfolio includes over 12,780 units of housing.
5. Professional Training and Certifications: Grow America offers professional development training including EDFP, HDFP, RHDFP, and CIFP certifications. Training fees range from $1,700-$1,850 per course or $7,100-$7,400 for full certification programs.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels13 records

Core offering

Grow America is a nonprofit Community Development Financial Institution (CDFI) that provides small business lending (SBA 7(a) loans and the Community Impact Loan Fund), affordable housing equity investment through tax credit programs (New Markets Tax Credits, Low-Income Housing Tax Credits, Historic and Renewable Energy Tax Credits), and professional training and certifications. The company also offers technical advisory services that help local governments, nonprofits, and developers structure financing for community and economic development projects.

Product overview

Grow America (formerly NDC) is a community development financial institution (CDFI) offering a multi-product financial services platform centered on small business lending, affordable housing development, and professional training. The core lending portfolio includes SBA 7(a) loans ($100,000–$5 million) and the Community Impact Loan Fund serving 30+ communities nationwide. The Grow America Corporate Equity Fund manages affordable housing equity investments using tax credit programs. The company also operates professional education through certification programs (EDFP, HDFP, RHDFP, CIFP) and the SEED Academy for real estate developer training. Additional offerings include New Markets Tax Credits (NMTC) with $974 million allocation, Technical Assistance advisory services, the Entrepreneur Academy for small business owners, a Community Partner Toolkit with marketing resources, and a Small Business Gift Guide marketplace. These products work together to provide a continuum of capital access, capacity building, and community development support.

Differentiator

Problem solved

Functional benefit

Products and services

• SBA 7(a) Loans
• Community Impact Loan Fund (CILF)
• New Markets Tax Credits Program
• Grow America Corporate Equity Fund
• Professional Training and Certifications
• Entrepreneur Academy
• SEED Academy
• Technical Assistance Services

Quantifiable outcome

• Loans from $10,000 to $5 million with terms up to 25 years
• +4 more outcomes

Named customers9 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Partnerships

Eight partnerships are on record, tiered major and strategic.

• PrestamosmajorStrategic or Co-development PartnerNMTC partner for Sola/Model Z project in Los Angeles, CA. Combined with Grow America's $6.0 million Qualified Equity Investment in the $19.2 million modular housing manufacturing project.
• BlueHub CapitalmajorStrategic or Co-development PartnerNMTC partner for Franklin Cummings Technical Institute project in Roxbury, MA. Combined with Grow America's $5.0 million Qualified Equity Investment in the $16.7 million project.
• Consortium AmericamajorStrategic or Co-development PartnerNMTC partner for Franklin Cummings Technical Institute project, bringing financing expertise to the $16.7 million education facility development.
• Partners for Common GoodmajorStrategic or Co-development PartnerNMTC partner for Franklin Cummings Technical Institute project, collaborating on the $16.7 million nonprofit education facility.
• Homestreet BankstrategicChannel Partner/ Reseller/ DistributorBanking partner that refers clients to Grow America for SBA loans. Beth Cooper, VP/Branch Manager: 'Their mission and common sense approach has been a welcome partnership.'
• Sussex County, DelawarestrategicStrategic or Co-development PartnerCounty government partner that co-offers loan programs with Grow America. William Pfaff, Director of Economic Development: 'Our partnership with Grow America allowed us to offer the lowest possible rate and longest possible term to Sussex County businesses.'
• Hispanic Business CenterstrategicChannel Partner/ Reseller/ DistributorSmall Business Development Center that introduced Nuevo Acapulco restaurant to Grow America for SBA 7a loan. Provides free technical assistance to small businesses.
• Greater Southwest Development CorporationstrategicStrategic or Co-development PartnerSponsor of Churchview Senior Supportive Living project. Grow America provided $8,777,237 equity investment for the 86-unit senior housing development.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Accion: Accion is a global nonprofit CDFI providing small business loans and advisory services to underserved entrepreneurs in the U.S. It directly mirrors Grow America's mission-driven small business lending model and target borrower segment.
• Grameen America: Grameen America is a nonprofit microfinance organization providing small loans, credit-building, and training to low-income entrepreneurs, predominantly women. It is a direct peer in CDFI-style microlending and financial inclusion.
• Kiva: Kiva is a nonprofit crowdfunding platform extending crowdfunded, 0% interest loans to underserved small businesses and borrowers. It competes in the same 'capital beyond traditional banks' niche using a different distribution model.
• Opportunity Finance Network (OFN): OFN is the national CDFI network and an intermediary providing capital, training, and policy advocacy. It is listed as a trusted Grow America partner and serves as a peer in the CDFI ecosystem.
• Local Initiatives Support Corporation (LISC): LISC is a major nonprofit CDFI providing loans, equity, and technical assistance for community development, affordable housing, and small business. It is highly comparable to Grow America's Corporate Equity Fund and NMTC deployment.
• Pacific Community Ventures: Pacific Community Ventures is a nonprofit CDFI and impact-investing advisory providing loans and capacity building to small businesses in underserved markets, mirroring Grow America's West Coast small business focus.
• Capital Impact Partners: Capital Impact Partners is a nonprofit CDFI delivering loans, equity investments, and advisory services for community development and underserved communities. It overlaps directly with Grow America's affordable housing and small business programs.
• Calvert Impact Capital: Calvert Impact Capital is a nonprofit CDFI raising capital from institutional investors to finance community organizations and small businesses. It is a direct peer in impact-oriented capital deployment and an explicit Grow America partner.
• Coastal Enterprises Inc. (CEI): CEI is a CDFI providing financing and business advisory to small businesses, with deep NMTC activity. Grow America lists CEI's leadership network (CEI-Boulos) as a recent co-investment partner, indicating direct deal-level overlap.

Emerging players

• RSF Social Finance: RSF Social Finance is a nonprofit financial intermediary providing loans, grants, and impact-investing services with a focus on social enterprises. It overlaps thematically with Grow America's community development lending mission.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/GrwAmerica
• Facebookfacebook.com/GrowAmericaformerlyNDC
• LinkedInlinkedin.com/company/growamericaformerlyndc

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Grow America