Laserfiche WebLink
2014 Highlights 25 YEARS OF LENDING AND ASSISTANCE <br />TO SMALL BUSINESSES <br />MCCD helped 63 entrepre- <br />neurs secure capital to start, <br />In 2014, MCCD celebrated not only its 25th anniversary but also 25 years <br />expand or improve their bust- <br />of providing loans and technical assistance to small businesses. When the <br />nesses, including 57 who re- <br />program started in 1989, our largest loan was only $3,000 and we only <br />ceived direct loansfrom <br />made loans in Minneapolis. <br />MCCD. <br />These 57 direct borrowers <br />Over the years, we have adapted the loan and technical assistance program <br />were located in Q5 communi- <br />to meet the wide range of needs of both the small businesses we serve and <br />ties throughout the metropoli- <br />the organizations with whom we partner. <br />tan area. <br />MCCD support enabled our <br />While we still make microloans as small as $1,500, we've also made loans <br />entrepreneurs to access nearly <br />as large as $300,000 to growing second stage businesses. <br />$22.4 million in capitalfor <br />their business projects. <br />In the last 25 years, MCCD made 850 loans totaling $13.2 million. Howev- <br />open to Business advisors <br />er, over one-third of our total loan volume was made in just the last three <br />provided valuable technical <br />years when we started targeting some of our lending to help second stage <br />assistance to 740 entrepre- <br />businesses. <br />neurs. <br />MCCDprovided1osmetro <br />Since 2012 alone, we've made 136 business loans totaling over $4.7 mil - <br />area residents with credit <br />lion. Our loans leveraged another $43 million in other financing, and <br />building loans. <br />most important, will lead to the creation or retention of over goo jobs. <br />Credit building borrowers who <br />you can see the businesses we've financed revitalizing Lake Street, serving <br />completed the program saw <br />customers on Nicollet Avenue, and helping to revive Central Avenue in <br />their credit scores increase an <br />average of3spoints. <br />Minneapolis. They are helping to build communities from Brooklyn Park <br />to Waconia and from Shakopee to Hastings. <br />t1, rr' <br />Peppers & Fries <br />Steve Frias (aka Fries), pictured at left, opened Peppers & <br />Fries in 2014 with his wife Lorraine and daughter Maria <br />(aka Pepper.) The restaurant is part of the recent resurgence <br />Y along East Lake Street in Minneapolis. Peppers & Fries of - <br />at.. i fors casual dining with a baseball and sports motif. <br />A <br />