Our mission is to get capital into the hands of entrepreneurs and community developers who need it most. We offer flexible, mission-aligned loans with a focus on equity. As a certified Community Development Financial Institution (CDFI), our lending is rooted in equity, not just credit scores. We offer low-interest, flexible loans with wraparound advising to help you succeed and grow.
General Business Loans
Flexible funding for equipment, working capital, or business expansion. Available to sole proprietors, LLCs, and partnerships throughout the seven-county metro area.
Shared Ownership Loans
Up to $350,000 (and $500,000 in certain circumstances) for businesses pursuing worker co-ops, commercial land trusts, or other community-based ownership models. These 4% interest loans include flexible terms that make collective ownership more accessible. This lending is geared towards the specific needs of shared ownership businesses; no credit checks or personal guarantees are required.
Commercial Real Estate Loans
Gap or acquisition financing for entrepreneurs purchasing or improving commercial property. We provide long-term loans with no prepayment penalties, often as part of a multi-lender deal. Great for those buying their first storefront, office, or facility. The owner(s) must occupy at least 51% of the building.
Special Partnership Loans
We partner with other Community Development Financial Institutions (CDFIs) and nonprofit organizations to support special lending initiatives. These loans are often focused on specific neighborhoods or community needs.
Gap Financing
If you’re already working with a bank, we offer gap loans to help bridge funding shortfalls or increase your equity in a project.
MCCD provides Credit Builder Loans through referrals from our community partners. These loans help individuals start or rebuild their personal credit with a safe, affordable option.
Designed as a bridge to the traditional financial system, this small-dollar loan supports people working to improve their credit and access mainstream financial products. MCCD issues and services the loan and reports on-time payments to all three major credit bureaus.
Opportunity Fund
Available only to MCCD consortium members, this fund is designed to provide access to affordable and flexible funds to meet the immediate needs of our members and catalyze creative projects. This supports community-based nonprofits that are launching new affordable housing or flagship community projects.
As one of MCCD’s newest loan products, the Opportunity Fund is open to consortium members as funds become available. Contact our lending team to learn more.
Connect with a business advisor to discuss your opportunity and the details of your request. We will also gather basic information about you & your business. This will help us to begin determining your eligibility for the loan application.
To continue determining your eligibility for the loan application, MCCD will ask you to respond to a short, web-based survey. We will review your survey response within two business days. Then, we will either invite you to apply for a loan or provide an alternative recommendation.
The loan application process can take up to a month or more depending on your responsiveness and the completeness of the information and documents provided. Loan decisions are made within two weeks of a finalized application.
Working from a provided document checklist, upload all the application documents you have gathered. After all the required documents are submitted, we may request additional information and documentation before your application can be finalized.
Once the application is finalized and underwriting is complete, we will present your request to our Loan Committee.
Our Loan Committee is responsible for reviewing and approving loans. The committee is a diverse group of community members, entrepreneurs, and nonprofit leaders who evaluate every application through a lens of inclusion and impact — not just spreadsheets.
Community Development Financial Institutions (CDFIs) were created by Congress in 1994 to close financing gaps in low- and moderate-income communities. As a CDFI, MCCD’s focus is serving entrepreneurs and businesses that have been historically excluded, overlooked, or undervalued by financial systems. That’s why we prioritize working with BIPOC, LGBTQIA+ people, immigrants, women, individuals with low wealth, and underinvested business areas.
While we welcome and serve all Minnesotans, our CDFI certification requires us to direct the majority of our lending to underserved markets. By doing so, we help create jobs, build local wealth, and support a more inclusive and equitable economy.