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How Smart Business Owners are Finding Certainty in Today’s Rising Interest Rate Environment

With soaring inflation and volatile financial markets, the Federal Reserve is steadily increasing the rate banks charge each other for overnight borrowing to a level that hasn’t been seen since before the Covid pandemic crisis began. This leads to banks raising interest rates on loans given to businesses and influencing credit decisions. The Federal Reserve's hope is that these actions will curb spending, reduce demand, and therefore bring inflation and prices back down to reasonable levels.

Welcome, Tim Walker - Senior Vice President of Lending

Please join us in welcoming Tim Walker to the CMDC Team as our new Senior Vice President of Lending! Tim joined our team on March 1st and brings with him over 33 years of experience in retail and business banking, and SBA Lending.

Leasing vs. Owning a Building

How does a business owner decide?

If you own a small business, you might be wondering whether you should lease or own your property. One of the most frequently asked questions we receive from clients is, "Should I buy, build or lease a commercial building?"

Well, like many other things in life, the answer is, "It depends." There are pros and cons with either option that a business owner should consider.

Thank you, Veterans, for Your Service

As a special thank you to those who have honorably served our country, CMDC is proud to announce a financing initiative for veterans interested in starting or expanding their businesses. It is called the Minnesota Emerging Entrepreneur Loan Program (EELP). This financing program supports the growth of companies owned by veterans with special funds for loans to start up and expand veteran-owned businesses throughout the state.

Celebrating Small Business Week

This week, CMDC celebrates National Small Business Week in partnership with the Small Business Administration (SBA). Here in Minnesota, 46% of workers are employed by small businesses, which account for 1.3 million jobs. New small businesses in Minnesota are more likely to be thriving at five years than anywhere else in the country. At CMDC, we are working hard to support small businesses whether they have been operating for decades or are launching the next new technology start-up.