Magnet Lending Corporation — Loan fund, Lansing, MI

Official record

CDFI Fund list, 21 Oct 2026

Institution type	Loan fund
Native CDFI	No
Date certified (as listed)	25 Jan 2022
RSSD ID	— (none listed)
Address	502 E. Cesar E Chavez Ave., Lansing, MI 48906 Directions (Google Maps)
Website	Not given on the official list (listed as “Non given”)

Loans and eligibility

Not yet verified

We have not yet read this lender's website, so we can't list its loan products, sizes or service area. That doesn't mean it lacks them. The official list gives no website for this lender; contact it at the address above.

Questions to ask when you contact them

We have no details from their website yet, so these are the basics to ask any lender. Something missing here does not mean they don't offer it: ask.

What kinds of loans do you make, and which one fits what I need?
We have no loan details from their website.
Do you lend where I live, or where my business is?
What are the smallest and the largest loans you make?
What interest rate and fees should I expect? For a personal, car or home loan, ask for the APR.
What documents will you need from me, and how long does a decision usually take?

Write down the answers, who you spoke to and the date, and ask for the terms in writing before you sign.

Size of the fund (IRS Form 990)

Fiscal year ending Dec 2023

Total assets	$8.7M
Total liabilities	$1.7M
Net assets	$6.9M
Total revenue	$4.2M
Notes and loans receivable, net (Part X line 7)	$1.8M
Program-related investments (Part X line 13)	$5.6M

End-of-year figures from the Form 990 this organisation filed with the IRS for the fiscal year ending December 2023 (tax year 2023; EIN 85-4188860, filed as “MAGNET LENDING CORPORATION”), taken from the IRS Annual Extract of Tax-Exempt Organization Financial Data (returns processed in 2024). Figures are self-reported to the IRS, not audited by us, and lag one to two years behind today. The lender’s own annual report may show newer numbers. This organisation’s filings on ProPublica Nonprofit Explorer

Filings over time

Fiscal year ending	Total assets	Net assets	Revenue	Notes and loans receivable
Dec 2021 (990)	$1.7M	$1.6M	$86,921	$1.5M
Dec 2022 (990)	$2.9M	$2.9M	$157,066	$1.4M
Dec 2023 (990)	$8.7M	$6.9M	$4.2M	$1.8M

Total assets grew 411% from Dec 2021 to Dec 2023; notes and loans receivable rose 18%. One row per fiscal year in the IRS extracts of returns processed in 2022, 2023, 2024; “—” = the line was empty or zero on that return (a fund can book its loans on other lines).

How it compares

Computed from public data

Measure	This lender	Compared with
Total assets, latest IRS Form 990	$8.7M	Larger than 56% of the 16 other certified loan funds and venture funds in Michigan with a matched Form 990 (median $6.6M).

How these comparisons were worked out

Measure	Peer group (this lender left out)	Peers	Where this lender sits
Form 990 total assets	certified loan and venture funds with a Form 990, in Michigan	16	larger than 56%

“Larger than X%” = the share of the peer group with a smaller value. Ranks count from the largest. Peer groups use the lender's home state when it has at least 5 peers, otherwise the whole country. Full definitions: methodology.

For comparison, not an offer and not a rating. Past records show what this lender did, not what you would be offered. Peer groups and sources: methodology. Form 990 figures: IRS annual extracts (see the Form 990 section).

Other certified CDFIs in Lansing and Michigan

All 34 CDFIs in Michigan

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