MBFC CDE INC

What they do

THE ORGANIZATION HAS BEEN CERTIFIED BY THE U.S. TREASURYS COMMUNITY DEVELOPMENT FINANCIAL INSTITIUTIONS FUND AS A COMMUNITY DEVELOPMENT ENTITY (CDE). AS A CDE, THE ORGANIZATIONS PRIMARY MISSION is to PROVIDE LOANS, EQUITY INVESTMENTS or FINANCIAL SERVICES to QUALIFIED BUSINESSES IN LOW-INCOME COMMUNITIES of THE ORGANIZATIONS SERVICE AREA.THE ORGANIZATION HAS ESTABLISHED LIMITED LIABILITY COMPANIES AS SUBSIDIARIES to ACCOMPLISH ITS MISSION. THE SUBSIDIARIES PAY FEES to THE ORGANIZATION IN CONSIDERATION for OBTAINING and ASSIGNING NEW MARKETS TAX CREDIT ALLOCATION AUTHORITY, and for ASSISTANCE IN SELECTING and EVALUATING PROJECTS to PROVIDE INVESTMENT CAPITAL to UNDERSERVED MARKETS. IN ADDITION, THE SUBSIDIARIES PAY ANNUAL MANAGEMENT FEES to THE ORGANIZATION for MANAGEMENT SERVICES PROVIDED BY THE ORGANIZATION.