Montana and Idaho Community Development Corp.
For more than 25 years, the Montana and Idaho Community Development Corporation has served Montana by providing business financing, consulting services and business training that can transform the lives of individuals and strengthen community prosperity. MICDC’s role in the state is to foster a resilient economy that is built on the inherent strengths of the people and the place of the state — the businesses its clients create help sustain local communities and provide jobs throughout Montana.
MICDC works with business owners, local development agencies and banks throughout Montana. It is a member of Opportunity Finance Network, a national network of Community Development Finance Institutions that are dedicated to delivering responsible, affordable, lending to help low-income, low-wealth and other disadvantaged people and communities join the economic mainstream.
MICDC is guided by seven values:
- Access to economic resources is key to alleviating poverty in Montana, and it gives people opportunity for success and dignity in their lives.
- MICDC capital and services can spur community prosperity and resilience.
- Effective community development must consider impacts on the natural environment.
- Work to level the playing field for motivated entrepreneurs.
- Solid lending practices are good for MICDC and clients.
- Think creatively in applying resources to help clients.
- Believe that success is built from mutual trust, respect and fun, and that by working together, we can accomplish more.
Through its revolving loan fund, MICDC in 2012 has more than $15 million invested in emerging and growing businesses throughout the state. Investors — composed of private individuals, foundations and trusts, financial institutions and federal government agencies — support the fund and its offices.
- Montana CDC in 1996 became one of the first Community Development Finance Institutions in the country certified by the U. S. Treasury. Montana CDC has received seven CDFI awards over the last 13 years, totaling more than $6.5 million.
- Montana CDC in 2000 began lending funds from the Small Business Administration’s microloan program. Montana CDC is the state’s only SBA Microlender.
- In 2005, Montana CDC was one of the first organizations in the country to receive a CARS (CDFI Assessment Rating System) rating from Opportunity Finance Network. Montana CDC maintains its CARS rating with biannual compliance audits. Montana CDC is one of only 70 CARS-rated Community Development Finance Institutions in the country.
- Montana CDC is a lender for the USDA Intermediary Relending Program.
- Montana CDC received $96 million in New Markets Tax Credit allocation in 2008 and 2010. Montana CDC is the state’s only Community Development Entity sanctioned to utilize NMTC and has utilized the funds on six projects throughout Montana.
- In 2009 Montana CDC won Honorable Mention by the Novogradac Community Development Foundation, a nationally recognized accounting and consulting firm, for Best Small Business Qualified Low Income Community Investment.
- In 2010 Montana CDC twice received Honorable Mention awards by the Novogradac Community Development Foundation for Best Use of Tax Credits under the New Markets Tax Credits program.
- In 2011 Montana CDC received the award for Best Operating Business / Qualified Low Income Community Investment by the Novogradac Community Development Foundation, for Best Use of Tax Credits under the New Markets Tax Credits program.
- Montana CDC is the state’s only nonbank guaranteed lender for three federal programs:
- SBA 7(a) Community Advantage.
- USDA Business and Industry.
- Bureau of Indian Affairs.
- Montana CDC was selected as one of 21 CDFIs in the country to participate in the Goldman Sachs/Opportunity Finance Network Small Business Growth Collaborative.
Find Montana Community Development Corporation online at www.mtcdc.org.
MICDC in Missoula is located at 229 E. Main St.; the agency also has offices in Bozeman and Kalispell.