At a glance
From its website, read 2 Nov 2026Midwest Minnesota Community Development Corporation is a loan fund based in Detroit Lakes, Minnesota. Its website describes home repair loans, home mortgages and small-business loans. Stated loan amounts run from $2,000 to $250,000. Where it lends: Minnesota, North Dakota, South Dakota and Wyoming.
Each point is backed by a quote further down this page. Terms change: confirm with the lender.
How to reach them and apply
| Main | (218) 847-3191 source |
|---|---|
| info@mmcdc.com source | |
| Website | www.mmcdc.com |
| Office (official list) | 119 Graystone Plaza, Suite 100, Detroit Lakes, MN 56501 |
What their website says about applying
In order to receive a HOMe loan, buyers must qualify for and receive a first mortgage through MMCDC or another source, such as local banks.
sourceMust provide detailed bids for work to be completed
sourceMust provide insurance binder with MMCDC listed as 2nd Mortgagee
sourceUse the form below to contact one of our lenders to learn more.
source
Phone numbers and addresses are the ones on the lender's own site and the CDFI Fund list. CDFI Atlas does not take applications.
Rates and terms they state
Read 2 Nov 2026| Loan | Stated | Text on the lender's site (verbatim) | Page |
|---|---|---|---|
| Home repair / improvement loans | Rate stated, not as an APR: see their wording | 20 yr: 8.000% | source |
As published on the lender's website on that date, not an offer or a quote. Your rate depends on the lender's review. A missing rate means the pages we read did not state one. For consumer loans we repeat a rate only when the lender states it as an APR (annual percentage rate, which includes fees); otherwise read the lender's own wording and ask for the APR.
Who qualifies, in their words
- Minimum credit score: 620
Must have minimum 620 credit score
source - Collateral required
Secured by Mortgage
source - Income limit applies
A loan is available to households who are employed and reside in Becker County and who meet income guidelines.
source - Homebuyer education required
all HOMe borrowers participate in free homebuyer education and housing counseling
source
Only rules the lender's own pages state. Other requirements may apply.
Official record
CDFI Fund list, 21 Oct 2026| Institution type | Loan fund |
|---|---|
| Native CDFI | No |
| Date certified (as listed) | 12 Jul 2025 |
| RSSD ID | — (none listed) |
| Address | 119 Graystone Plaza, Suite 100, Detroit Lakes, MN 56501 Directions (Google Maps) |
| Website | www.mmcdc.com |
Head officeBranch or officeApproximate (ZIP code area)
Map data © OpenStreetMap contributors, © OpenMapTiles, tiles OpenFreeMap. Head-office points: U.S. Census Bureau geocoder.
Loans and eligibility
Verified from lender site on 2 Nov 2026Read from 6 pages of the lender's website on 2 Nov 2026. Quotes are verbatim. Extracted with AI help from the pages listed below and checked automatically against them. Not reviewed by a person. Confidence: high. Terms change — confirm with the lender before applying.
| Product | Amount stated | Text on the lender's site (verbatim, incl. menu labels) | Page |
|---|---|---|---|
| Home repair / improvement loans | $2,000 – $50,000 | Minimum loan amount: $2,000 / Maximum loan amount: $50,000 | source |
| Home mortgages | — | The Home Loan Division of MMCDC provides a variety of mortgage and first-time homebuyer options to low-income people | source |
| Small-business loans | $5,000 – $250,000 | Funding ranges from $5,000 to $250,000 | source |
Loan sizes
Minimum loan amount: $2,000 / Maximum loan amount: $50,000
sourceFunding ranges from $5,000 to $250,000
sourceprovides loans of $250,000 or less for equipment, inventory, working capital and real estate.
source
Range used for the size filter: $2,000 to $250,000
Service area
Minnesota, North Dakota, South Dakota and Wyoming
Our business loans support successful operation of businesses in rural and urban areas of Minnesota as well as North Dakota, South Dakota and Wyoming.
source
Statewide: Minnesota, North Dakota, South Dakota, Wyoming
Borrower focus
- First-time homebuyers
The Home Loan Division of MMCDC provides a variety of mortgage and first-time homebuyer options to low-income people
source - Low- and moderate-income / underserved
The Home Loan Division of MMCDC provides a variety of mortgage and first-time homebuyer options to low-income people
source - Nonprofits
We serve both for-profit and nonprofit enterprises.
source
Languages
- No non-English service found on the pages we read.
Online application
No online application link found on the pages we read.
Questions to ask when you contact them
Based on what their website said when we read it on 2 Nov 2026, and what it left out. Something missing here does not mean they don't offer it: ask.
- What is the APR, including fees, on your home repair loans and home mortgages?
Their website states a rate, but not as an APR. The APR includes fees, so it is the number to compare. - What interest rate and fees should I expect on your small-business loans?
Their website does not state a rate for this. - How long can I take to repay?
No repayment terms are stated on their website. - Can I apply online, or do I need to call or visit?
We found no online application on their website. - Do you offer free coaching or help preparing my application?
CDFI certification requires development services, such as training or advice, alongside lending. - What documents will you need from me, and how long does a decision usually take?
Their website describes some application steps (above); ask for the full document list.
Write down the answers, who you spoke to and the date, and ask for the terms in writing before you sign.
CDFI Fund awards
CDFI Fund database, 3 Nov 2026$11.9 million in 11 awards from the U.S. Treasury's CDFI Fund, 1999–2024 (CDFI Program, Financial Assistance; CDFI Rapid Response Program).
| Round year | Program | Amount |
|---|---|---|
| 2024 | CDFI Program, Financial Assistance | $1,250,000 |
| 2021 | CDFI Rapid Response Program | $1,826,265 |
| 2018 | CDFI Program, Financial Assistance | $600,000 |
| 2017 | CDFI Program, Financial Assistance | $686,500 |
| 2013 | CDFI Program, Financial Assistance | $1,347,000 |
| 2012 | CDFI Program, Financial Assistance | $790,776 |
| 2011 | CDFI Program, Financial Assistance | $1,000,000 |
| 2009 | CDFI Program, Financial Assistance | $2,000,000 |
| 2004 | CDFI Program, Financial Assistance | $750,000 |
| 2002 | CDFI Program, Financial Assistance | $1,000,000 |
| 1999 | CDFI Program, Financial Assistance | $600,000 |
New Markets Tax Credit allocations
$809 million in 12 allocations. An NMTC allocation is the authority to offer investors federal tax credits for community investments; it is not cash paid to the lender and is not counted in the award total above.
| Round year | Program | Allocation |
|---|---|---|
| 2024 | New Markets Tax Credit allocation | $75,000,000 |
| 2023 | New Markets Tax Credit allocation | $60,000,000 |
| 2019 | New Markets Tax Credit allocation | $60,000,000 |
| 2018 | New Markets Tax Credit allocation | $70,000,000 |
| 2013 | New Markets Tax Credit allocation | $60,000,000 |
| 2012 | New Markets Tax Credit allocation | $60,000,000 |
| 2011 | New Markets Tax Credit allocation | $60,000,000 |
| 2010 | New Markets Tax Credit allocation | $74,000,000 |
| 2008 | New Markets Tax Credit allocation | $90,000,000 |
| 2007 | New Markets Tax Credit allocation | $85,000,000 |
| 2006 | New Markets Tax Credit allocation | $80,000,000 |
| 2003 | New Markets Tax Credit allocation | $35,000,000 |
These are awards and investments made to the institution itself to build its capital and capacity. They are not loans to borrowers, and an award does not mean the lender has money available for a particular loan today.
Source: CDFI Fund Searchable Awards Database, all 12,628 award records (1996–2025), read 3 Nov 2026. Years are the award round as the database lists it. Matched to the official CDFI list by exact name and state; see the method on the About page.
Size of the fund (IRS Form 990)
Fiscal year ending Dec 2023| Total assets | $81.4M |
|---|---|
| Total liabilities | $5.5M |
| Net assets | $75.9M |
| Total revenue | $6.7M |
| Notes and loans receivable, net (Part X line 7) | $50.3M |
| Program-related investments (Part X line 13) | $8.8M |
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 41-0972298, filed as “MIDWEST MINNESOTA COMMUNITY DEVELOPMENT 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) | $81.4M | $73.4M | $8.3M | $41.1M |
| Dec 2022 (990) | $79.3M | $74.3M | $6.3M | $46.4M |
| Dec 2023 (990) | $81.4M | $75.9M | $6.7M | $50.3M |
Total assets were about flat from Dec 2021 to Dec 2023; notes and loans receivable rose 22%. 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 |
|---|---|---|
| Largest loan its website states | $250,000 | Other loan funds whose website states a maximum: median $275,000. Higher than the stated maximum of 38% of these 184. |
| Total assets, latest IRS Form 990 | $81.4M | Larger than 84% of the 19 other certified loan funds and venture funds in Minnesota with a matched Form 990 (median $20.5M). |
How these comparisons were worked out
| Measure | Peer group (this lender left out) | Peers | Where this lender sits |
|---|---|---|---|
| Largest stated loan | other loan funds stating a maximum, nationwide | 184 | higher than 38% |
| Form 990 total assets | certified loan and venture funds with a Form 990, in Minnesota | 19 | larger than 84% |
“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 Detroit Lakes and Minnesota
- African Development CenterLoan fund · Minneapolis, MNMicroloans, SBA-backed loans (7(a)/504/Community Advantage), Small-business loansVerified
- African Economic Development SolutionsLoan fund · St Paul, MNCredit-builder loans, Microloans, Small-business loansVerified
- Community Reinvestment Fund, IncLoan fund · Minneapolis, MNSmall-business loansVerified
- First Children's FinanceLoan fund · Minneapolis, MNChild-care facility financing, Small-business loansVerified
- Greater Minnesota Housing FundLoan fund · St. Paul, MNAffordable housing development loansVerified
- Habitat for Humanity of Minnesota, Inc.Loan fund · St. Paul, MNVerified
Work at Midwest Minnesota Community Development Corporation? Link to this page
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