Northcountry Cooperative Development Fund, Inc.

Minneapolis MN


Founded in 1978, Northcountry Cooperative Development Fund, Inc. (NCDF) is a cooperative community development loan fund that makes loans and provides corresponding support services to consumer, worker, housing, and agricultural producer cooperatives across the upper Midwest.

CDFI Awards for Northcountry Cooperative Development Fund, Inc.


FA (2003) - $945,000

NCDF is being awarded $945,000 in financial assistance, which will be used as loan capital and to augment its loan loss reserve. Some of the funds will be used to finance housing share loans (individual mortgages for housing co-op units) and some for blanket mortgages for the development of new affordable housing cooperatives primarily in the Minneapolis-St. Paul area. Approximately 62% of this award will be targeted to Hot Zones.



CORE (2000) - $230,000

The CDFI Fund"s $230,000 equity investment will help the organization carry out its plan to expand its housing and sustainable agriculture lending.



CORE (1999) - $310,000

The CDFI Fund"s $310,000 award ($60,000 equity investment, $200,000 loan, and $50,000 technical assistance grant) will help NCDF continue to expand its lending activity.



CORE (1997) - $185,000

The CDFI Fund equity investment of $185,000 will enable NCDF to increase its small business lending activity and continue to expand a new Initiative in affordable housing in the Minneapolis area.



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