As a nontraditional lender, MMCDC is experienced in assisting small businesses located in rural Minnesota.


Targeted reinvestment areas currently include Bagley, Bemidji, Fosston, Mahnomen, Menahga, Parkers Prairie, Pelican Rapids, Sebeka, Walker, Wadena, and other areas. Final determination of eligibility will be based upon address mapping, to be conducted by MMCDC.

Loan Details

The term of the loan will depend upon the type of asset being financed and other factors.

The collateral required varies, depending on the project structure. MMCDC typically requires a first lien on collateral provided for the loan.

A personal guarantee may be required. This means that the primary business owner will assume personal responsibility for repayment of the loan if the business / company is not able to repay the loan.

The following fees may be associated with Community-Builder Microloans:

  • Up to 1 percent origination fee
  • Filing and recording fees
  • Title fees
  • Appraisal fees
  • Attorney fee

During the application process, MMCDC will take the following information into consideration:

  • Management
  • Creditworthiness
  • Capital
  • Collateral
  • Capacity
  • Business history
  • Financial projections

Financing Details

It typically takes 15-30 days from the time the loan application has been completed and approved to receive the funds to finance your business project.

This is a Limited Time Offer. Loan subject to credit and underwriting standards.

MMCDC is an equal opportunity employer and provider.

Nicole Kirchner
Vice President of Business Development