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514/2018 Home-MCCF
<br /> To be recognized as the premier membership-driven economic development finance organization.
<br /> MCCF Serves All of Minnesota
<br /> MSCF Membership is open to all local governments and economic development organizations in Minnesota,with no cost to
<br /> join.With membership deposits ranging from$25,000 to$250,000,communities and local agencies of all sizes now have
<br /> the opportunity to offer flexible financing solutions to the small businesses and nonprofit organizations they serve.
<br /> Our Lending History
<br /> MCCF opened for business in February 2003.The Fund currently has 70 members,which represent more than 600 communities throughout
<br /> Minnesota.
<br /> To date,MCCF has closed 91 loans to support projects ranging from the$14 million expansion of the Cloquet Community Hospital(MCCF loan was
<br /> $2.5 million)to the construction of a new$660,000 nonprofit early childhood daye center in Red Wing($64,000 MCCF loan).With an average loan
<br /> size of$403,000,MCCF has approved a total of more than$36 million in loans during our nine year history.
<br /> In recent years,MCCF has approved subordinated,long-term debt financing for projects that include manufacturing plant expansions,a veterinary
<br /> clinic,a resort expansion,an assisted living/nursing facility,a sporting goods business,dental office,hardware store,environmental testing lab,and
<br /> the expansion of a medical center support business.Several of these loans were made under the federal New Markets Tax Credit program,which
<br /> offers significantly lower interest rates and even longer term fixed-rate financing than are available under our standard loan program.
<br /> Four New Loan Options are now available for Small Businesses and
<br /> Nonprofit Organizations!
<br /> After being forced to the sidelines by the Financial Crisis of 2008 and the far reaching impact of the at Recession,MCCF is back in the lending
<br /> business with more flexible financing race than ever before.Every loan will require full coverage home insurance in Minnesota
<br /> (hftps:lfinsuranoequote.dealsiminnesota-homeowners-insurance-quotesi).
<br /> MCCF now offers four new loan products to provide creative financing solutions for small businesses and nonprofit organizations that are located in
<br /> our member communities.
<br /> MCCF Capital Access Loans
<br /> are subordinated,gap financing loans from$50,000 to$1,500,000.MCCF provides 50%of the total amount financed in partnership with local banks.
<br /> The borrower is required to provide a 20%down payment or project equity,Loon proceeds may be used for most any business purpose,with loan
<br /> terms of up to 25 years for real estate and 10 years for business equipment.
<br /> Green Loans for Businesses
<br /> are available to finance improvements that reduce energy costs,improve cash flow and improve business property values.Loan amounts are from
<br /> $50,000 to$300,000,with the to of each loan based upon the useful life of the Improvement or equipment financed.
<br /> SBA 7(a)Small Business Loans
<br /> offer a solution for meeting small business financing needs when local lenders are unable to fund a an due the loan amount,purpose or credit
<br /> criteria.Loans from$100,000 to$2,000,000 can be used to finance the purchase of owner-occupled commercial real estate;business equipment,-
<br /> remodeling and household improvements;long-term working capital;and for the refinancing of existing debt.Loan terms are available for up to 25
<br /> years for real estate and 10 years for equipment.Loans secured by other collateral have a maximum to and amortization of 7 years.
<br /> SBA 504 First Mortgage Loans
<br /> after long-term fixed rate loans ranging from$250,000 to$8,000,000 for growing small businesses,while providing liquidity to local banks and other
<br /> business lenders.Loans may be used to purchase or construct buildings for owner-occupied businesses,with loan term and amortization of up to 25
<br /> years,Originating lenders under this program are paid a premium based upon secondary market rates,loan structure and loan terms.
<br /> As small businesses and nonprofits plan for future growth and new opportunities,our banking and other commercial lending partners know that MCCF
<br /> is a complimentary,flexible lending partner that is standing by to help them manage their portolic,risk and make it possible for their customers to get
<br /> the financing they need,when they need it.
<br /> MCCF loan applications are available online by clicking"Loan Application"above.For a list of our members,click on'Membership'
<br /> MCCF Holds 9th Annual Meeting
<br /> http://www.mncommunitycapitalfund-org/ 213
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