Organizations Filed Purposes:
MLCDC PROVIDES LOW INCOME COMMUNITIES WITH OPPORTUNITIES TO GENERATE ECONOMIC GROWTH BY PROVIDING FINANCING PRODUCTS, DEVELOPMENT SERVICES, AND COMMUNITY DEVELOPMENT THAT ADVANCES THEIR ABILITY TO DEVELOP A SUSTAINABLE FUTURE IN THE MIDLANDS.MLCDC IS A NON-PROFIT ORGANIZATION THAT PROVIDES TOP QUALITY SERVICE TO ALL ITS CLIENTS. THE TOP PROGRAMS THE ORGANIZATION PROVIDES TO THE COMMUNITY ARE: BUSINESS DEVELOPMENT, CHILDCARE CREATION, FINANCIAL CAPABILITY AND ACCESS TO CAPITAL. MLCDC IS A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI). WE HAVE BEEN SERVING THE COMMUNITY FOR ABOUT 14 YEARS WITH THESE PROGRAMS.
MLCDC PROVIDES LOW INCOME COMMUNITIES WITH OPPORTUNITIES TO GENERATE ECONOMIC GROWTH BY PROVIDING FINANCING PRODUCTS, DEVELOPMENT SERVICES, AND COMMUNITY DEVELOPMENT THAT ADVANCES THEIR ABILITY TO DEVELOP A SUSTAINABLE FUTURE IN THE MIDLANDS.
MLCDC BUSINESS MICROLENDING PROGRAM - OUR EDUCATIONAL AND COACHING SERVICES INCLUDE CHILDCARE DEVELOPMENT, EDUCATIONAL AND COACHING SERVICES MICRO-BUSINESS, MICRO-LENDING, FINANCIAL EDUCATION AND COMPUTER TRAINING. FINANCIAL PRODUCTS INCLUDE LOANS OFFERED THROUGH THE BUSINESS LOAN FUND. THIS PROGRAM SERVES BUSINESSES WHICH NEED CAPITAL RANGING FROM $1,000 TO $25,000. MLCDC USES TWO SYSTEMS IN ITS MICRO-LENDING PROGRAM: PEER LENDING GROUPS AND DIRECT LENDING PROGRAM. MLCDC USES THE PEER LENDING GROUP MODEL TO SERVE BUSINESSES THAT LACK ACCESS TO BANK CREDIT. LOAN APPLICANTS JOIN A BUSINESS LOAN GROUP THAT QUALIFIES LOANS, ASSESSES AND MANAGES LOAN RISK, AND PROVIDES THE GROUP AS A WHOLE WITH THE OPPORTUNITY TO EXPAND ITS CREDIT LIMIT THROUGH RESPONSIBLE LENDING AND BORROWING. STEP-UP LOANS ARE PROVIDED TO BUSINESSES THAT PROVE THEIR CREDIT WORTHINESS AND OFFERS LOANS TO $10,000. THE DIRECT LENDING PROGRAM OFFERS LOANS UP TO $25,000 AT BELOW MARKET INTEREST RATES. A QUALIFIED LOAN COMMITTEE IS IN CHARGE OF THE EVALUATION OF THE LOANS. MLCDC BECAME A CDFI ON JUNE 30, 2017.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Juan Montoya | EXECUTIVE DIRECTOR | 65 | $54,788 |
| Catherine Lang | DIRECTOR | 2 | $0 |
| Yolanda Diaz | DIRECTOR | 2 | $0 |
| Amy Carolus | DIRECTOR | 2 | $0 |
| Rafael Madonado Iii | DIRECTOR | 2 | $0 |
| Sarah Mohon | SECRETARY | 2 | $0 |
| Kimberly Chalek | VICE PRESIDENT | 5 | $0 |
| Carol Russell | DIRECTOR | 2 | $0 |
| Adam Emberton | TREASURER | 5 | $0 |
| Marcos Hernandez | PRESIDENT | 5 | $0 |
| Aretha Boex | DIRECTOR | 5 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202033219349319578_public.xml