California Lenders
Enterprise Zone Net Interest Deduction -- Only for Lenders
The Net Interest Deduction (or NID) provides impressive tax savings only for lenders. Financial institutions that lend money to qualifying businesses may claim a significant tax deduction against their California income. The deduction is based on a portion of the interest earned from borrowers located within any of California's 39 Enterprise Zones. (The lenders themselves can be located anywhere in California.)
Identifying qualified enterprise-zone borrowers can be a significant challenge for banks. For many lenders, valuable opportunities already exist but remain hidden among thousands of current and retired loan accounts.
To meet this challenge, Romo & Associates, Inc has developed a proprietary database and highly accurate software tools to securely process loan account data. We work closely with California's many Enterprise Zone offices to maintain current information and to provide the highest degree of accuracy in identifying loan accounts that qualify for the NID benefit.