Seeking collateral, when possible, is a guiding principle in prudent lending and in accordance with our value of stewardship. While obtaining collateral is a tool in our due diligence, we also recognize external factors can negatively affect repayment and unexpected borrower problems may emerge. In such cases, MMT works with organizations to develop a reasonable repayment plan. We do not aggressively seek to foreclose on the loan to the harm of the nonprofit. Should a nonprofit cease operations and liquidate its assets despite its best efforts, having a secured interest enables MMT to receive a fair share of the proceeds to further our grantmaking and other investments in the greater nonprofit community.
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