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.

Congress extends financing program that supported expansion for MMCDC borrower

Seward Cooperative, an MMCDC borrower, was honored this summer with a visit from U.S. Treasury Secretary Jacob Lew. Highlights of the visit were captured in an announcement by the New Markets Tax Credit Coalition and posted to its webpage. Secretary Lew lauded the Seward expansion as a good use of the federal New Markets Tax Credit (NMTC) program. Congressional leaders and the White House voted Sept. 15 to extend the NMTC for five years.

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Thank you to Federal Home Loan Bank of Des Moines and NeighborWorks America

Walk-in showers, new flooring and appliance updates are under way at Pine Villa Estates, an MMCDC-owned 30-unit building in Wadena County.

Upgrades are made possible by funding from NeighborWorks America and the Federal Home Loan Bank of Des Moines. Pine Villa is specifically set aside for seniors and disabled adults and has an elevator, community room and park-like setting in this safe community. Contact MMCDC for application assistance, tours and more.

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Meeting workforce housing needs

A model home in Thief River Falls was the setting for a discussion of housing needs with Sen. Amy Klobuchar and U.S. Rep. Collin Peterson during the recent Congressional recess.

Congressman Peterson and Sen. Klobuchar, center, discussed workforce housing needs with a group in Thief River Falls.

The small group of public- and private-sector representatives—including the Northwest Minnesota Housing Cooperative, Border State Bank, Digi-Key, USDA Rural Development Office, City of Thief River Falls, and Pennington County—discussed strategies they are employing to maintain affordability when creating new housing stock.

The meeting was hosted at an MMCDC-owned home that is for sale to moderate-income buyers. MMCDC and Northwest Minnesota Housing Cooperative also work with public- and private-sector partners to construct and finance affordable housing in Detroit Lakes, Crookston and other small cities.

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Capital. Innovation. Success.

MMCDC News

Congress extends financing program that supported expansion for MMCDC borrower

Thank you to Federal Home Loan Bank of Des Moines and NeighborWorks America

Meeting workforce housing needs