121 Pageviews Read Stories
- EIN 39-1277471
- (608) 256-2799
- 550 W Washington Ave Madison WI 53703-2616 USA
- www.mdcorp.org
- Add to Favorites
Nonprofit Overview
Causes: Economic Development
Mission: Madison development corporation's mission is to help provide quality employment opportunities by making loans to hard to finance small businesses and to provide quality, affordable housing for madison and dane county residents.
Programs: Of the 253 affordable units offered by madison development corporation and the 216 units surveyed, 132 units were occupied by households at or below the hud very low income limit and an additional 29 units were occupied by households which were at or below 120% of the hud very low income limit. Of the remaining 55 surveyed households, 36 were at or below hud's limit for low income housing.
in 2017, the business loan program committed or closed on loans to 3 hard-to-finance businesses. Through the venture debt program, we made another 5 loans to technology businesses. The new 2017 loans and the loans currently in the organization's portfolio created over 165 new full time equivalent jobs in 2017, including 120 full-time and 152 fte part-time jobs. Over 70% of the full time jobs also had employer-provided health benefits. Over 30% of the new jobs created were filled by individuals who were unemployed at time of hire.