Who can get a loan?
Any cooperatively organized and run enterprise or housing co-op can apply for a loan from NCDF. Our current borrowers include consumer, worker, producer, and housing cooperatives. Individuals who are members of housing cooperatives can also get loans. See below.
To borrow from NCDF, a co-op must become a member, which requires the purchase of equity shares (see Join).
What can loans be used for?
Loans to cooperative businesses can be used for:
Loans to housing cooperatives can be used for:
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Mortgage on property
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Rehab and improvements
How can we apply for a loan?
Visit our Borrow page and call or e-mail Jim Shadko at (612) 767-2123; jim@ncdf.coop for more information on how housing co-ops can access these funds.
Can I get a loan to buy a share in a co-op?
Yes! Individuals can get share loans (also called "co-op mortgages" or "co-op loans") to finance the purchase of their share in a housing cooperative. This is a service that most conventional lenders don't offer. Visit the NCDFs Borrow page and call or e-mail Timeka Kuhnley at (612) 767-2115; timeka@ncdf.coop for more information on how you can access these funds.
Can a housing co-op get a loan as a whole?
Yes! Housing co-ops can get loans from NCDF for acquisition or rehabilitation of a property through NCDF's Commercial Loan program.
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