Building a Cooperative Loan Fund
The Minneapolis Consortium of Community Developers (MCCD) is an association of community development organizations committed to expanding the wealth and resources of neighborhoods through housing and economic development initiatives. The MCCD currently has a large underutilized loan fund and it has members needing short-term bridge loans for commercial and housing real estate projects, however these loan funds are currently not available to members. An MCCD member accessible loan fund could provide increased independence and ability for members to achieve their projects. Justin Eilers, an Urban and Regional Planning student in the Humphrey School, will identify best practices in creating a member administered loan fund. The results will be used to determine the viability and approach to setting up a cooperative loan fund.