For more than 40 years, MMCDC has been providing capital resources and innovative ideas to assist in successful business and community development throughout Minnesota and the Midwest.

How can we help you?

Commercial Lending

We offer lending for new and existing business and business expansions that generally serve to improve the community.

Mortgage Lending

We provide affordable loans for home purchase, repair and refinance.

Housing

Affordable Rental Housing Housing Development

We provide numerous housing services for those looking to own a home, as well as affordable rental opportunities.

Commercial Real Estate

We build and manage properties for business use.

Capital. Innovation. Success.

For more than 40 years, MMCDC has been providing capital resources and innovative ideas to assist in successful business and community development throughout Minnesota and the Midwest. We provide financial assistance to businesses for the creation of jobs, to communities for new development, and to individuals for home ownership, as well as other services.

We offer business loans ranging from $5,000 to $20,000,000. We identify community needs and create solutions, including the development of apartment buildings, homes with affordable payments and new subdivisions. We manage, build and restore buildings for affordable rental housing. We provide affordable loans for home purchase, remodel and refinance. We are committed to creating housing solutions for first-time home buyers and others in rural Minnesota so that they can purchase affordable new homes.

This institution is an equal opportunity provider and employer.

MMCDC News

New SBA Paycheck Protection Program Announced

MMCDC Note: Detailed information on the new SBA Paycheck Protection Program is being disseminated by the U.S. Small Business Administration. A portion of that guidance is reprinted with permission below. For complete and up-to-date information, sign up for the SBA e-newsletter at www.sba.gov/updates.

The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses.

Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.

Under this program:

Eligible recipients may qualify for a loan up to $10 million determined by 8 weeks of prior average payroll plus an additional 25% of that amount. Loan payments will be deferred for six months. If you maintain your workforce, SBA will forgive the portion of the loan proceeds that are used to cover the first 8 weeks of payroll and certain other expenses following loan origination.

Click here to learn more.

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Initiative Funds Providing Emergency Child Care Grants

Six foundations serving Greater Minnesota have joined forces to offer financial resources to child care providers serving essential and emergency workers. For complete details click the link below.

Emergency Child Care Grant Program

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3/26 Update: MMCDC Offering Emergency Small Business Loans

As we navigate through the COVID-19 crisis, MMCDC is working to develop plans to assist our customers and the communities we serve.

MMCDC’s Lending Teams now have additional flexibility to quickly respond to current and future customers facing difficulties due to the pandemic. Fast, new business loans available up to $50,000 with low interest rates, flexible terms. Go to Commercial Lending to view our flyer and application.

“MMCDC’s Small Business Emergency Loan Program is an additional option,” MMCDC President Julia Nelmark said. “We encourage business owners to do their research and decide what products are best for them.”

We are committed to assisting our borrowers, tenants and other clients through this difficult time,” she added. “While our offices remain closed to the public, staff is available to assist via phone, email, fax or mail.”

Consumer and home loan modifications available.

Contact Nicole Kirchner, Vice President of Business Development, at 218-844-7016 to discuss business, home and consumer needs.

Nicole Kirchner

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How can we help you?

Capital. Innovation. Success.

MMCDC News

New SBA Paycheck Protection Program Announced

Initiative Funds Providing Emergency Child Care Grants

3/26 Update: MMCDC Offering Emergency Small Business Loans

View Loan Balance

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