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 highlights 100th Anniversary of Graystone Hotel

MMCDC members and guests enjoyed a presentation on the historic renovation of the Graystone Hotel and entertainment by the Heart O’ Lakes Harmony group at the annual meeting Thursday, June 15, at the Detroit Lakes Community and Cultural Center.

The Hotel opened in 1917 in Detroit Lakes, MN, and was purchased by MMCDC in 1998. It was placed on the National Register of Historic Places and subsequently renovated. MMCDC’s offices are now located in the Hotel and in the former Teague Building, longtime home to Blanding’s Department Store. A public event commemorating the Graystone’s 100th anniversary is planned for the Fall.

Janet Green

President Kevin Shipley and Chairman Ron Lindberg presided at the meeting. Among the items of business was recognition of longtime board members Kathy Henry, Larry LePier, Terry Stallman
and Ron Lindberg. Janet Green is the incoming board chairwoman.

> Read More

NeighborWorks in the Neighborhood

Every day, the dedicated members and partners of MMCDC work with residents to improve neighborhoods and the lives of people in the communities we serve. This work, along with that of many similar organizations, is celebrated during national NeighborWorks Week, June 3-10, 2017.

Last year, along with our partners, MMCDC rebuilt a restaurant that had been lost in a fire, helped 96 first-time homebuyers acquire a home, renovated 30 affordable rental units for seniors and the disabled, preserved affordability of an additional eight units, financed 14 nonprofit and for-profit businesses, supported training for volunteers who contributed hundreds of hours to their communities, and much more.

As a chartered member of NeighborWorks®, MMCDC must meet a high standard of fiscal integrity and service performance to assist residents in developing leadership, improving their neighborhoods, and securing decent, affordable housing.

We are one of more than 240 NeighborWorks® organizations working in nearly 4,000 urban, suburban and rural communities nationwide. Our link to this powerful and unique nationwide network of community development organizations adds great value to what we do in disadvantaged communities in Minnesota and the Midwest.

Through NeighborWorks®, we have access to financial resources, tools, training opportunities, and the experience of hundreds of colleagues from around the country who can help us make our community a better place to live. Rather than just build housing, we help residents revitalize an entire neighborhood … or develop skilled grassroots citizen leaders … or improve the capacity of local organizations … or optimize the often hidden powers of local institutions. In short, we build community.

> Read More

Homebuyer education makes buying a home easier

Buying a home isn’t easy, but an in-person class featuring a trained educator, high-quality curriculum, and housing professionals from the community sure helps! Attend one of two free homebuyer education classes offered by our affiliate, White Earth Investment Initiative. Register online by clicking the link below.

Monday and Tuesday, May 29-30, Frazee High School, 305 Lake St. N., 5:30-9:30 p.m.

Tuesday and Wednesday, June 26-27, Detroit Lakes Community Education, 204 Willow St. E., 5:30-9:30 p.m.

> Read More

How can we help you?

Capital. Innovation. Success.

MMCDC News

MMCDC highlights 100th Anniversary of Graystone Hotel

NeighborWorks in the Neighborhood

Homebuyer education makes buying a home easier

View Loan Balance