Cass County Economic Development Corporation

REGIONAL PROGRAMS

• Initiative Foundation Loan Fund
• North Central Economic Development Association Revolving Loan Fund
• Northeast Entrepreneur Fund
• Midwest Minnesota Community Development Corporation
• Minnesota Community Capital Fund

Initiative Foundation Loan Fund
The Initiative Foundation offers four business loan funds to help strengthen central Minnesota communities by promoting local ownership, diversifying the economic base and creating quality jobs that pay living wages and benefits. Public consensus on business and economic development is considered before the foundation approves any investment.

North Central Economic Development Association Revolving Loan Fund
The North Central Economic Development Association (NCEDA) is a local non-profit corporation established with federal and local dollars through the Region Five Development Commission. It offers gap financing for fixed assets and working capital for new and expanding businesses in Cass, Crow Wing, Morrison, Todd, and Wadena Counties.

Northeast Entrepreneur Fund
The Northeast Entrepreneur Fund is a nonprofit organization helping people in our region start, stabilize, or expand small businesses. This program offers a flexible source of business financing for start-up and existing businesses. NEF can be the sole lender or may partner with banks, the Small Business Administration, or other economic development institutions to provide gap financing for a business.

Midwest Minnesota Community Development Corporation
Midwest Minnesota Community Development Corporation (MMCDC) a nonprofit organization specializing in economic, housing and community development. This loan program focuses on business expansions. Most often, MMCDC finances equipment or real estate with flexible rates and terms. Loans must generally meet a public purpose, such as job creation, expanding the local tax base, or creating greater economic opportunity for residents of a community. MMCDC also occasionally makes equity investments and provides technical assistance to small businesses.

Minnesota Community Capital Fund
The Minnesota Community Capital Fund (MCCF), a nonprofit organization, offers local communities and economic development organizations throughout Greater Minnesota the opportunity to participate in an innovative new development financing resource. This flexible loan fund is designed to leverage millions of dollars in underutilized local Revolving Loan Fund (RLF) capital. Through the pooling of RLF resources, the Fund provides its members with greater lending flexibility, the capability of offering much larger loans than would be possible with limited existing local resources, and no cost professional fund management services.