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Contact Mica Lindsey at
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to discuss your loan to MCDC. We accept amounts starting at $5,000, at interest rates of 0-3%. Loans are documented by a promissory note. Please note that there are risks to these loans. We work with businesses that cannot get commercial loans, due to tight cash flow, the newness of the enterprise or the limited experience of management. We pool our partners' capital to overcome these obstacles and achieve community results. Your loan will be unsecured. However, we have procedures in place to mitigate risk. They include: * Loan Loss Provision - MCDC reserves at least 5% of loan fund assets against losses. * Secured Loans - Most MCDC loans are secured with real property and/or personal assets. This limits the actual loss on a failed project. * Technical Assistance - MCDC works closely with each business borrower on management of operations, marketing and finances. This creates healthier borrowers and also protects the loan and our partners' money. |
