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

MN Announces Small Business Relief Grant Opportunity

The Minnesota Department of Employment and Economic Development has announced an opportunity for businesses to apply for relief due to hardships experienced as a result of the COVID-19 pandemic. For complete information go to https://mn.gov/deed/business/financing-business/deed-programs/relief/.

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Remembering an MMCDC Founder and WWII Veteran

MMCDC Note: Roy Jorgenson helped found MMCDC during his service as Director of Inter-County Community Council of Oklee, Minn., from 1966-1984. Prior to that, he served his country in World War II. He passed away this spring just short of his 100th birthday. His life is honored in this video, produced as a joint project of the Minnesota Department of Veterans Affairs and Twin Cities PBS in recognition of a very different type of Memorial Day in 2020. He also is remembered in a story on the state website.

Roy’s son-in-law, Ron Lindberg, later served as MMCDC’s Board Chairman. We extend our gratitude and our condolences to Roy’s family.

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MMCDC Approved as Paycheck Protection Program Lender

On May 28, the federal government announced it would reserve a portion of Paycheck Protection Program funds for use by Community Development Financial Institutions, such as MMCDC.

“These loans are advantageous, so we encourage business owners to contact our Vice President of Business Development, Nicole Kirchner, to discuss this and other loan opportunities available to keep businesses on track during the pandemic.” — MMCDC President Julia Nelmark

This federally backed loan program offers flexible financing at below-market rates and terms to support COVID-19-impacted businesses. Borrowers may be eligible for full or partial loan forgiveness when they use funds to maintain or rehire staff, and to pay rent, utilities, and interest on mortgages.

The U.S. Small Business Administration and the Department of the Treasury indicated $10 billion would be reserved for CDFIs.

“The forgivable loan program, PPP, is dedicated to providing emergency capital to sustain our nation’s small businesses, the drivers of our economy, and retain their employees,” said SBA Administrator Jovita Carranza in a press release. “CDFIs provide critically important capital and technical assistance to small businesses from rural, minority and other underserved communities, especially during this economically challenging time.”

“The PPP has helped over 50 million American workers stay connected to their jobs and over 4 million small businesses get much-needed relief,” said Treasury Secretary Steven T. Mnuchin in the same release. “We have received bipartisan support for dedicating these funds for CDFIs to ensure that traditionally underserved communities have every opportunity to emerge from the pandemic stronger than before.”

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How can we help you?

Capital. Innovation. Success.

MMCDC News

MN Announces Small Business Relief Grant Opportunity

Remembering an MMCDC Founder and WWII Veteran

MMCDC Approved as Paycheck Protection Program Lender

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