DBL Secures $70 Million New Markets Tax Credit

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  Business and Finance on Sat, Jan 10th, 2026 by inforum
      Locale: UNITED STATES

BISMARCK, N.D. - January 10th, 2026 - Dakota Business Lending (DBL), a leading community development financial institution (CDFI), has been awarded a significant $70 million New Markets Tax Credit (NMTC) allocation. This substantial investment promises to be a catalyst for economic revitalization and job creation across North and South Dakota, specifically targeting low-income and distressed areas.

What is the New Markets Tax Credit (NMTC)?

The NMTC program, established by Congress in 2000, is a powerful tool designed to stimulate private investment in economically disadvantaged communities. It works by offering tax credits to investors who provide capital to CDFIs like DBL. These CDFIs, in turn, deploy that capital into businesses and projects located within designated low-income communities.

DBL's Role and Impact

DBL, in partnership with its affiliate Dakota Community Development Corporation (DCDC), will be responsible for deploying the $70 million over the next three to seven years. The organization's focus will be on providing crucial capital to businesses struggling or aiming to expand in areas that often lack access to traditional funding sources. This can include startups, existing small businesses looking to grow, and projects that contribute to vital community needs like affordable housing, healthcare facilities, and educational initiatives.

Kelly Zeringue, President and CEO of DBL, emphasized the transformative potential of this allocation. "We are thrilled to receive this significant allocation," she stated. "This funding will allow us to further our mission of supporting businesses that create jobs and opportunity in underserved communities." The NMTC program's ability to leverage private investment for public good is a core tenet of DBL's strategy.

Beyond Job Creation: A Ripple Effect

The impact of this investment is expected to extend far beyond simple job creation figures. By fostering business growth, DBL aims to stimulate a ripple effect of positive economic activity. This includes increased local spending, enhanced tax revenues for state and local governments, improved quality of life for residents, and a strengthened overall economic base for the region. The targeted investments are designed to address systemic inequalities and build more resilient communities.

A Testament to DBL's Reputation

Doug Suggett, Chairman of the DBL Board of Directors, highlighted the significance of the award as a recognition of DBL's ongoing commitment and proven track record. "This award is a testament to DBL's strong track record and commitment to community development," he commented. Securing this NMTC allocation is a competitive process, requiring a detailed demonstration of an organization's ability to effectively deploy capital and achieve measurable community impact. DBL's success reflects their deep understanding of the needs of the communities they serve and their ability to build strong partnerships with investors and local stakeholders.

Looking Ahead

This $70 million NMTC allocation represents a significant win for both DBL and the communities it serves. It demonstrates the power of public-private partnerships in addressing economic disparities and fostering sustainable growth. DBL's work will be closely watched as a model for other CDFIs seeking to leverage the NMTC program to create lasting positive change. The organization is currently seeking partners and projects to deploy the capital and maximize its impact across North and South Dakota.