Can any size organization or community become a TCCCF member?
There is no minimum or maximum size eligibility requirement for organizations or communities to become members of the TCCCF. In fact, the Fund is designed for and encourages the participation of communities of all sizes, as well as nonprofit economic development organizations that want to increase their development financing capacity. The funds that we have available locally to invest in the TCCCF were originally received from the Minnesota Department of Employment and Economic Development (DEED) under the Minnesota Investment Fund grant program. These funds were loaned to a local business and the repayments are being used to capitalize my local revolving loan fund (RLF). Can I use this money to join TCCCF?Yes. The State Legislature enacted an amendment to Minn. Statute 116J.8731, subd.2 2000 that specifically authorizes local government units to do so.
