Loan Program
As a Community Development Financial Institution (CDFI), MCCD provides capital to entrepreneurs who face challenges in accessing the commercial banking system, with a focus on Black, Indigenous and People of Color (BIPOC), women, low-wealth individuals, and geographic areas of underinvestment.
Loan Products
Loans for Start-up Businesses
Direct lending targeted at start-up or early- stage businesses unable to secure financing from traditional lenders.
Micro Loans:
Designed for start-up and early stage businesses. 3 - 5 year terms with loan sizes up to $25,000 for retail or service businesses and up to $50,000 for manufacturing businesses.
Advisor Express:
Loans up to $5,000 for small and early stage micro-enterprises. Loan terms range from short turn around (financing for an event) to terms of 3 – 5 years.
Loans for Growing Businesses
Direct lending or in partnership with banks, financial institutions, or nonprofits. Includes projects financed traditionally or through the SBA 7(a) and 504 programs.
Gap Financing:
Designed to benefit the borrower so working capital can be preserved in the business. Loans provided in partnership with banks or lending institutions for a range of business projects including business or equipment purchases and leasehold improvements. Loan size and terms vary and can range from $5,000 to $100,000+ depending on use.
Commercial Real Estate Gap & Acquisition Financing:
Financing for real estate acquisitions and property improvements for small business owners. MCCD Loans provide a portion of the small business owner’s required equity contribution. This is permanent term financing with terms up to 10 years (with longer amortizations) and no prepayment penalties.
Other Loan Opportunities
Cooperative & Employee Owned:
Financing for member/employee owned cooperatives and other democratically owned businesses including Community Land Trusts. This product is available for projects primarily benefitting BIPOC communities, women, veterans, and low-wealth neighborhoods.
Fee-Based Financing:
Alternative fee-based financing is available for start-up and growing businesses.
Credit Building Loans
Non-predatory loans are designed to create a path for credit goals. Working with organizations with an established credit building program, MCCD can provide low dollar loans with no interest and a small fee. On time payments are reported to all three credit bureaus.