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Our loans are structured to best meet the needs of our members, our borrowers, and participating lenders. One of <br /> the primary considerations for our members as loan terms and conditions are being negotiated is how the <br /> secondary market will price the loan for purchase. <br /> The actual price to be paid for TCCCF loans is known to the originating member before a final loan <br /> commitment is made. If the price offered by the market is discounted from par value (which only occurs when <br /> the member wants to offer below market rate financing to a borrower), the TCCCF member is responsible for <br /> funding the difference between par value and the loan sale price. There is no cost to members when loans are <br /> sold at par value. On the other hand, if the loan is sold at a premium,the member receives the premium payment <br /> (that amount in excess of the loan's par value). <br /> Under this approach,the TCCCF loan pool is continually recapitalized and our members are able to originate an <br /> unlimited number of loans in their communities. <br /> Member-governed. Member-focused. <br /> The Twin Cities Community Capital Fund is a Minnesota nonprofit membership corporation that was <br /> incorporated on December 2, 2004. The business affairs of the Fund are carried out under the direction of a <br /> nine-member Board of Directors. TCCCF members have the responsibility to elect six directors (two directors <br /> from each membership class). The six elected directors fill the remaining three at-large board seats by <br /> appointment. The ongoing input and advice of the Fund's members helps to ensure that the Fund will be <br /> responsive in meeting the challenges of even the most complex development financings. <br /> Who pays for the cost of operating the Fund? <br /> The Fund's primary revenue sources are the interest earnings on the pooled funds deposited and contributed by <br /> TCCCF members and loan origination fees charged to borrowers. Members do not pay for any of the Fund's <br /> operating costs or for the services provided by the fund manager and loan officers. <br /> Who manages the Fund? <br /> In order to keep operating costs down,the Fund has no employees. The Northland Institute,a Minnetonka-based <br /> nonprofit economic development organization,provides a full-range of professional management services under <br /> contract with TCCCF. Scott Martin, a Certified Economic Development Finance Professional with 30 years of <br /> business and economic development experience, serves as Fund Manager under the direction of the Board of <br /> Directors. The loan officers assigned to TCCCF member projects also have many years of experience in <br /> business financing, deal structuring, and portfolio management. <br /> Our Money Back Guarantee. <br /> Membership in the TCCCF comes with a money back guarantee. Ninety percent of the funds received from <br /> members are deposited in the TCCCF Loan Fund escrow account, which is managed by an independent Escrow <br /> Agent. These funds remain the property of each respective member and may only be used to fund TCCCF loans. <br /> Ten percent of each member's funds are in the form of a loan to the TCCCF for start-up working capital. <br /> Members may withdraw their money from the Loan Fund escrow account anytime after three years from the <br /> date of deposit, or reduce their position in the Fund down to the$50,000 level—for any reason whatsoever. <br /> For more information about becoming a member,please contact: <br /> Scott Martin, President <br /> Twin Cities Community Capital Fund <br /> 1391 1 Ridgedale Drive,Suite 260 <br /> Minneapolis,MN 55305 <br /> Phone: (952) 546-9049 <br /> Fax: (952)541-9684 <br /> smartin C@tcccf.org <br />