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

MMCDC receives federal New Markets Tax Credit allocation

The Community Development Financial Institutions Fund has announced an allocation award of $70 million in federal tax credits to Midwest Minnesota Community Development Corporation (MMCDC).

This is one of the most powerful community development tools in the country. — MMCDC President Julia Nelmark

As a prior allocatee, MMCDC has financed health care centers in medically underserved areas, nonprofit agencies benefiting youth and families, and for-profit businesses bringing overseas jobs to rural America.

NMTC Program awards historically have spurred $8 of private investment for every $1 of federal investment, according to the CDFI Fund. This has helped create or retain more than 800,000 jobs and 205 million square feet of commercial real estate.

“(These) awards will finance projects ranging from large manufacturing plants to grocery and retail stores that will create jobs and provide critically needed goods and services to residents of Low-Income Communities,” CDFI Fund Director Jodie Harris said in a press release.

The federal New Markets Tax Credit attracts and rewards private investment by offering a tax credit to the investor. MMCDC has provided flexible financing up to $20 million, but more often utilizes small loan funds to extend the benefits of the credit to small rural businesses.

The CDFI Fund is a program of the U.S. Department of the Treasury and certifies organizations, such as MMCDC, as Community Development Financial Institutions. MMCDC is a Detroit Lakes, Minn.-based nonprofit engaged in business, community and housing development. Its New Markets Tax Credit service area includes North Dakota, South Dakota, Wyoming and Minnesota.

> Read More

Celebrating 25 years of the CDFI Fund

Improving community facilities. Creating affordable housing. Growing small businesses.

These are the hopes of every Community Development Financial Institution (CDFI), including those of us in Minnesota. Click on the link below to see what Minnesota’s CDFIs have accomplished using funds from the U.S. Department of the Treasury.

Minnesota

> Read More

Waiting list now open for Public Housing in Becker Co.

Looking for decent, low-cost housing with room for your family? Are you in need of a yard and a garage? Take advantage of this opportunity and join the waiting list for Becker County Public Housing.

MMCDC, which administers the program on behalf of Becker County, is taking rental applications for the 25 single-family homes scattered throughout Becker County, many in our small towns. When vacancies occur, people on the waiting list will be contacted.

Ideal applicants have a need for a larger rental unit of three bedrooms or more. While all homes are income restricted, public housing allows a higher income. Applicants generally pay 30 percent of their gross income on rent, pay their own utilities and care for the property through snow removal, lawn care, and basic cleaning and maintenance.

Call 847-5641 or 888-847-7404 for details.

> Read More

How can we help you?

Capital. Innovation. Success.

MMCDC News

MMCDC receives federal New Markets Tax Credit allocation

Celebrating 25 years of the CDFI Fund

Waiting list now open for Public Housing in Becker Co.

View Loan Balance

Subscribe to the MMCDC Newsletter