Magnet Lending Corporation
Non-profit diversified public-private partnership that supports the missions of the MEDC and MSHDA by aggregating capital and facilitating the financing & development of low income/ attainable housing. MAGNET LENDING CORPORATION IS A MICHIGAN NONPROFIT FORMED TO PROMOTE COMMUNITY AND ECONOMIC DEVELOPMENT, THE CREATION OF WEALTH AND JOB OPPORTUNITIES, AND TO FACILITATE INVESTMENT OF PRIVATE AND PUBLIC CAPITAL IN THE FORM OF LOW-COST, FLEXIBLE FINANCIAL PRODUCTS, COUPLED WITH DEVELOPMENT SERVICES. MLC'S FINANCIAL PRODUCTS AND DEVELOPMENT SERVICES ARE DESIGNED TO CREATE AND PRESERVE AFFORDABLE AND ATTAINABLE HOUSING, INVEST IN JOB-CREATING COMMUNITY-DRIVEN ECONOMIC DEVELOPMENT PROJECTS, AND PROMOTE THE ECONOMIC MOBILITY OF LOW- AND MODERATE INCOME RESIDENTS AND COMMUNITIES IN THE STATE OF MICHIGAN.
Founded
2020
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Lansing
Home - Michigan Community Capital Investing in Places Where People Come First Michigan Community Capital acts as a partner andfacilitator in transformational projects across the state of Michigan 1. 6 BILLION Community Impact 402 MILLION New Markets Tax Credits Deployed 5. 7 MILLION SQFT Built or Rehabbed 1618 Residential Units Financed 6863 Permanent Jobs CreatedRetained 23 MILLION Loan Volume WHO WE ARE Michigan Community Capital is a 501c3 nonprofit that exists to promote community and economic development the creation of wealth and job opportunities and to facilitate investment of private and public capital in Michigan. At our core we are focused on driving economic mobility of low and moderateincome Michigan residents and communities.
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Urban, Community Category
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Lansing
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