Bringing Transformation to Communities in South Carolina,
North Carolina, Georgia, and Tennessee
Cherry Bekaert’s lending affiliate, The Innovate Fund, has a passion for transforming businesses and communities across South Carolina, North Carolina, Georgia, and Tennessee. As a certified Community Development Entity (CDE), The Innovate Fund has been awarded $238MM in total allocation of NMTC, which they work to deploy in low-income community projects that improve incomes for workers and low-income community residents through the creation of quality jobs.
The Innovate Fund was created in 2006 to utilize federal NMTCs for revitalization efforts in downtown Greenville, South Carolina. Originally named Greenville New Markets Opportunity (GNMO), the company was able to deploy $89 million of NMTCs into Greenville. Building upon its success, in 2011 GNMO broadened its service area and in 2015 it expanded both its service area and changed its name to The Innovate Fund to reflect a broader mission. The Innovate Fund and Greenville New Markets Opportunity, which collectively have received $327 million of NMTC Allocation.
To date, The Innovate Fund’s borrowers have created over 7,900 jobs and delivered goods and services to over 200,000 low-income community residents.
Learn more about our additional strategic financing capabilities: New Markets Tax Credits.
“Across the states of SC, NC, TN, and GA, The Innovate Fund works with community based organizations and businesses undertaking transformative community development projects through the New Markets Tax Credits program. Without the financing that The Innovate Fund is able to provide, the impactful community outcomes our borrowers create for their low-income communities would not be achievable.” – Emma Wyatt, Program Manager, The Innovate Fund
Case Studies
-
Health & Wellness
-
Manufacturing/Industrial
- New Markets Tax Credit for Brown Packing
- New Markets Tax Credit for Limehouse Produce
- New Markets Tax Credit for Sweet Street Desserts
- New Markets Tax Credit for SWISS KRONO
- New Markets Tax Credit for TDC Greenfield Industries
- New Markets Tax Credit for Greenco Distribution
- New Markets Tax Credit for Claussen Bakery
- New Markets Tax Credit for Arris Manufacturing
-
Mixed-Use Real Estate
-
Not-for-Profits
- New Markets Tax Credit for The Franklin School
- New Markets Tax Credit for Legacy Charter School
- New Markets Tax Credit for Judson Mills
- New Markets Tax Credit for Gregg Community Center
- New Markets Tax Credit for Daughters of Charity Services of New Orleans
- New Markets Tax Credit for Upward Star Center
New Markets Tax Credits for Private Investment Funds and Family Offices
Learn more about how the Innovate Fund is transforming communities in South Carolina, North Carolina, Georgia, and Tennessee