CAPCO Programs

Through the Washington, DC CAPCO program, Advantage Capital Partners was able to invest $500,000 in NuAmerica Bank:

Advantage Capital Partners, a leading investor in the Washington, D.C., Certified Capital Companies (CAPCO) program, has invested $500,000 in NuAmerica Bank, a proposed community bank that seeks to provide banking services to small businesses and professionals in the Washington, D.C. metropolitan area. Advantage Capital is the first institution to invest in NuAmerica’s initial fundraising round, which aims to secure $20 million in capital this year.

“NuAmerica is building a unique position in the commercial lending market and has assembled an experienced management team with strong ties to local businesses, government agencies and community organizations,” said Doug Beekman, senior vice president at Advantage Capital. “These connections, along with a strong relationship-based marketing model, will help establish NuAmerica as the bank of choice for small and medium-sized minority-owned businesses in the metropolitan area.”

NuAmerica Bank will target its services to small and medium-sized business customers, with an emphasis on those owned by Hispanics and other minority groups. Scheduled to open in the second quarter of 2007, the bank’s headquarters and first branch will be located in Columbia Heights, which is in the heart of one of the District’s fastest growing neighborhoods where small, minority-owned business are highly represented. The second branch will be located in the Silver Spring area in Maryland, which is the center of small business activity in Montgomery County and the natural hub for other satellite communities in Montgomery, Prince George and Frederick counties.

NuAmerica Bank has developed a diversified group of organizers in terms of ethnicity, profession and community connections. Led by newly appointed proposed President and CEO, George Assaf, NuAmerica Bank’s day-to-day operations will be managed by experienced financial-industry professionals with an emphasis on risk management, customer service and a commitment to building sustainable wealth for the bank’s clients, shareholders and employees. Prior to joining NuAmerica, Assaf held the position of business banking sales manager with PNC Bank. He has worked for several leading banks in the Washington, D.C., area and has more than 20 years of experience in commercial lending, sales management, strategic planning, compliance and financial analysis.

“Funding from Advantage Capital will support the opening of our Columbia Heights location, as well as contribute to our initial operating expenses as we work to establish ourselves within the local community,” said Julio Lopez-Brito, NuAmerica Bank founder and proposed chairman. “Under George’s leadership, NuAmerica will differentiate itself from the larger chain banks by offering individualized services tailored to the needs of our target customers.”

Advantage Capital’s investment in NuAmerica Bank was made possible through the Washington, D.C., CAPCO program, a local economic development initiative designed to stimulate the flow of financial capital to early stage businesses, creating high paying jobs and increasing tax revenues across the District. Based on structured tax credits, the $50 million program combines private sector expertise in identifying, evaluating and financing businesses with the public sector’s interest in building a stronger local economy.

NuAmerica Bank is just one of the many growing Washington, D.C., companies in which Advantage Capital has invested in. Recent investments include CreateHope Inc., a developer of online-based corporate giving programs, Gridpoint, a developer of intelligent energy management (IEM) products, and ARC Solutions, a developer of web-based tools for membership organizations.

About Advantage Capital Partners

Advantage Capital Partners (http://www.advantagecap.com) is a private equity firm focused on investing in promising companies in connection with federal, state and local economic development efforts. With offices and partners in Washington D.C., New Orleans, St. Louis and other cities, Advantage has raised more than $750 million in institutional venture capital since 1992 and invested in companies across a wide range of industries.

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