Laserfiche WebLink
TWIN CITIES COMMUNITY <br /> CAPITAL FUND <br /> Economic Development Financing <br /> for Growing Businesses <br /> Highlights of the Fund <br /> Choose your own membership level. <br /> The Twin Cities Community Capital Fund welcomes communities and development organizations of all sizes to <br /> participate in the Fund. Three membership levels are available, ranging from as little as $50,000 up to$200,000. <br /> Simply choose the membership level that best fits your organizational needs. <br /> The benefits of membership. <br /> The primary goal of the Twin Cities Community Capital Fund is to leverage the local economic development <br /> financing resources of our member communities. The Fund is designed to respond to a wide variety of local <br /> business financing needs, working in partnership with banks and other commercial lenders. <br /> • Members can originate loans of up to ten times the amount they deposit with the Fund. For example, a <br /> Class B member who deposits$100,000 can originate loans of up to$1,000,000 through TCCCF. <br /> • There is no limit on the number of loans that a member can originate. <br /> • By selling all loans to secondary capital markets on an advance commitment basis, the originating <br /> member significantly reduces and can even eliminate potential loan loss risk. <br /> • Members determine which projects they wish to support through the TCCCF Loan Fund, which can be <br /> used as a gap-financing source for most local economic development projects. <br /> • Experienced loan officers work closely with members, prospective borrowers, and participating lenders <br /> in analyzing and structuring financing deals that best meet the needs of all parties. The interest rate and <br /> terms of all TCCCF loans are negotiable, with most loans subordinate to the lead lender in the financing <br /> package. <br /> • TCCCF prepares all documents for loan closings and negotiates the sale of all member-originated loans <br /> to the secondary market, without any cost to members. <br /> • TCCCF members are able to take advantage of the New Markets Tax Credit program, which provides <br /> for below market rate loans to eligible borrowers, without having to handle any of the paperwork <br /> associated with participation in this new Federal economic development initiative. <br /> A self-sustaining loan fund. <br /> The TCCCF is a self-sustaining economic development financing resource. Recapitalization of the Loan Fund is <br /> through the sale of pre-approved loans to a national secondary market. <br />