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- EIN 14-1973678
- (402) 933-4466
- Development Corp 4923 S 24th St Su Omaha NE 68107-0000 USA
- www.midlandslatinocdc.org
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Nonprofit Overview
Causes: Economic Development, Urban & Community Economic Development
Mission: Mlcdc provides low income communities with opportunities to generate economic growth by providing financing products, development services, and community development that advances their ability to develop a sustainable future in the midlands. Mlcdc is a non-profit organization that provides top quality service to all its clients. The top programs the organization provides to the community are: business development, childcare creation, financial capability and access to capital. Mlcdc is a certified community development financial institution (cdfi). We have been serving the community for about 10 years with these programs.
Programs: Mlcdc business microlending program - our educational and coaching services include childcare development, educational and coaching services micro-business, micro-lending, financial education and computer training. Financial products include loans offered through the business loan fund. This program serves businesses which need capital ranging from $1,000 to $25,000. Mlcdc uses two systems in its micro-lending program: peer lending groups and direct lending program. Mlcdc uses the peer lending group model to serve businesses that lack access to bank credit. Loan applicants join a business loan group that qualifies loans, assesses and manages loan risk, and provides the group as a whole with the opportunity to expand its credit limit through responsible lending and borrowing. Step-up loans are provided to businesses that prove their credit worthiness and offers loans to $10,000. The direct lending program offers loans up to $25,000 at below market interest rates. A qualified loan committee is in charge of the evaluation of the loans. Mlcdc became a cdfi on june 30, 2017.