NYCICNew York Community Investment Company
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The remaining NYCIC financing will be available for equity mortgages for developers of small commercial properties as part of community redevelopment projects.
To be eligible for NYCIC funds, "companies must exhibit growth potential and demonstrate sound and committed management," says NYCIC President and CEO Howard Sommer.
The NYCIC is looking to assist an under-served segment of the business community, he adds.