METROPOLITAN CONSORTIUM OF COMMUNITY DEVELOPERS
Programs
Program 1 [2020]
EMERGING SMALL BUSINESS SUPPORT - SEE SCHEDULE OGeographiesNot indicatedDatesJan 1, 2020 – Dec 31, 2020Source990No causes providedNo populations provided–$16.3MProgram 2 [2020]
HOUSING /MEMBER SERVICES - SEE SCHEDULE OGeographiesNot indicatedDatesJan 1, 2020 – Dec 31, 2020Source990No causes providedNo populations provided–$419.7KSmall Business Development and Support
SMALL BUSINESS DEVELOPMENTAS A CDFI, MCCD DELIVERS ESSENTIAL SUPPORT TO BUSINESSES ACROSS A BROAD RANGE OF OWNERSHIP MODELS - FROM INDIVIDUALLY OWNED MICRO-ENTERPRISES TO COOPERATIVELY OWNED AND MEMBER-LED ENTERPRISES - PROVIDING GUIDANCE FROM STARTUP THROUGH EVERY STAGE OF GROWTH AND DEVELOPMENT. OUR MISSION-DRIVEN APPROACH PRIORITIZES COMMUNITY-BASED ECONOMIC OPPORTUNITY AND EXPANDED ACCESS TO BUSINESS RESOURCES FOR ENTREPRENEURS AND COMMUNITY GROUPS HISTORICALLY UNDERREPRESENTED IN TRADITIONAL SYSTEMS OF SUPPORT.(CONTINUED ON SCHEDULE O) SINCE LAUNCHING THE OPEN TO BUSINESS (O2B) PROGRAM IN 2011, MCCD HAS PROVIDED FORMAL SMALL BUSINESS DEVELOPMENT SERVICES TO COMMUNITIES ACROSS THE TWIN CITIES METRO AREA, WITH A FOCUS ON SUPPORTING ENTREPRENEURS OF COLOR, WOMEN, IMMIGRANTS, AND OTHERS WHO HAVE FACED BARRIERS TO ACCESSING TRADITIONAL FORMS OF CAPITAL OR SUPPORT. O2B OPERATES IN PARTNERSHIP WITH LOCAL AND REGIONAL MUNICIPALITIES THROUGHOUT THE SEVEN-COUNTY METRO, SERVING BOTH THE CORE CITIES OF MINNEAPOLIS AND SAINT PAUL AND 141 SUBURBAN COMMUNITIES. BUILDING ON THIS FOUNDATION, MCCD EXPANDED ITS SERVICES IN 2021 TO MEET THE GROWING NEED FOR ALTERNATIVE OWNERSHIP STRATEGIES THAT HELP KEEP BUSINESSES AND COMMERCIAL ASSETS ROOTED IN LOCAL COMMUNITIES. OUR SHARED OWNERSHIP PROGRAMMING AND LENDING COMPLEMENTS OUR LONG-STANDING WORK WITH CONVENTIONAL BUSINESSES AND IS PARTICULARLY TIMELY AS MANY OF MINNESOTA'S BABY BOOMER BUSINESS OWNERS APPROACH RETIREMENT AND SEEK SUCCESSION OR EXIT PLANNING SUPPORT. THIS SUPPORT IS AVAILABLE STATEWIDE TO COMMERCIAL COMMUNITY LAND TRUSTS, EMPLOYEE-OWNED COOPERATIVES, AND REAL ESTATE INVESTMENT COOPERATIVES THAT ARE AT LEAST 51% OWNED BY INDIVIDUALS WHO ARE PEOPLE OF COLOR, IMMIGRANTS, LOW-INCOME, WOMEN, VETERANS, OR PERSONS WITH DISABILITIES. OPEN TO BUSINESS (O2B) AND OUR SHARED OWNERSHIP PROGRAM PROVIDE SUPPORT AND GUIDANCE TO NEW, EMERGING, TRANSITIONING, AND GROWING BUSINESS OWNERS THROUGH ACCESS TO A HIGHLY SKILLED AND EXPERIENCED TEAM OF PROFESSIONALS WHO SERVE AS ADVISORS, ADVOCATES, AND PARTNERS. WE OFFER NO-COST, ONE-ON-ONE AND SMALL GROUP TECHNICAL ASSISTANCE IN ENGLISH, SOMALI, SPANISH, AND HMONG TO ENSURE OUR SERVICES ARE ACCESSIBLE TO THE DIVERSE COMMUNITIES WE SERVE. SUPPORT MAY INCLUDE FEASIBILITY ASSESSMENT, BUSINESS PLAN DEVELOPMENT, GOVERNANCE AND OPERATIONS MANAGEMENT EDUCATION, CASH FLOW AND FINANCING PROJECTIONS, MARKETING PLANS, LICENSING AND FILING REQUIREMENTS, THE DEVELOPMENT AND IMPLEMENTATION OF SOUND FINANCIAL MANAGEMENT SYSTEMS, AND GUIDANCE ON POLICY DESIGN AND RISK MITIGATION STRATEGIES. IN ADDITION TO TECHNICAL ASSISTANCE, MCCD OFFERS ACCESS TO CAPITAL FOR ENTREPRENEURS WHO MAY NOT QUALIFY FOR TRADITIONAL BANK FINANCING. MCCD HAS A STRONG TRACK RECORD OF ADVANCING THE FINANCIAL SUSTAINABILITY AND GROWTH FOR LOW-WEALTH INDIVIDUALS AND COMMUNITIES, PARTICULARLY THOSE LED BY ENTREPRENEURS OF COLOR. OVER THE PAST DECADE, WE HAVE DELIVERED MORE THAN 36,000 HOURS OF TECHNICAL ASSISTANCE TO OVER 7,500 ASPIRING AND ESTABLISHED BUSINESS OWNERS. WE HAVE ALSO PROVIDED DIRECT FINANCING TO MORE THAN 560 BORROWERS, TOTALING APPROXIMATELY $20 MILLION, AND HAVE HELPED LEVERAGE OVER $120 MILLION IN ADDITIONAL CAPITAL. IN 2024, DEMAND FOR SMALL BUSINESS TECHNICAL ASSISTANCE REMAINED HIGH AS MCCD ADVISORS ASSISTED 883 O2B AND SHARED OWNERSHIP CLIENTS THROUGH OVER 6,100 HOURS OF DIRECT TECHNICAL ASSISTANCE. MCCD PROVIDED SHARED OWNERSHIP BUSINESS ADVISING SERVICES TO 8 EMERGING EMPLOYEE-OWNED COOPERATIVES, INCLUDING 5 IN THE DIRECT CARE INDUSTRY. OUR SUPPORT FOCUSED ON HELPING THESE COOPERATIVES BUILD STRONG GOVERNANCE SYSTEMS, DEVELOP SUSTAINABLE BUSINESS MODELS, AND ACCESS CRITICAL CAPITAL. THROUGH A PARTNERSHIP WITH THE MINNESOTA DEPARTMENT OF HUMAN SERVICES, FUNDED BY THE AMERICAN RESCUE PLAN ACT (ARPA), EACH DIRECT CARE COOPERATIVE RECEIVED $162,400 TO SUPPORT THEIR LAUNCH AND LONG-TERM VIABILITY. IN ADDITION, MCCD SUPPORTED 2 COMMERCIAL REAL ESTATE INVESTMENT COOPERATIVES AND A COMMERCIAL COMMUNITY LAND TRUST, HELPING ADVANCE LOCAL OWNERSHIP STRATEGIES THAT PRESERVE AFFORDABILITY, MAINTAIN COMMUNITY CONTROL, AND BUILD ASSETS THROUGH MEMBER-LED STRUCTURES.GeographiesNot indicatedDatesJan 1, 2024 – Dec 31, 2024Source990No causes providedNo populations provided–$1.7M
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