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IMPORTANT NOTICE TO OFFEREES <br /> • <br /> NO PERSON HAS BEEN AUTHORIZED BY MCCF TO GIVE ANY INFORMATION OR MAKE ANY <br /> REPRESENTATIONS CONCERNING MCCF OTHER THAN AS CONTAINED IN THIS PROSPECTUS OR <br /> ACCOMPANYING DOCUMENTS, IN CONNECTION WITH THE PARTICIPATION DESCRIBED HEREIN <br /> AND, IF GIVEN OR MADE, SUCH OTHER INFORMATION OR REPRESENTATION MUST NOT BE <br /> RELIED UPON AS HAVING BEEN AUTHORIZED BY MCCF. THIS PROSPECTUS DOES NOT <br /> CONSTITUTE AN OFFER WITHIN ANY JURISDICTION TO ANY PERSON TO WHOM IT IS <br /> UNLAWFUL <br /> TO MAKE SUCH OFFER OR SOLICITATION WITHIN SUCH JURISDICTION. <br /> MCCF RESERVES THE RIGHT TO ACCEPT OR REJECT PARTICIPATION AGREEMENTS SUBMITTED <br /> 1 BY OFFEREES. <br /> TABLE OF CONTENTS <br /> Page <br /> Glossary iii <br /> Prospectus Sununary 2 <br /> Risk Factors 3 <br /> Risks Related to Member Funds 3 <br /> Loss of Use of Funds 3 <br /> Investment of Loan Fund 3 <br /> Earnings and Interest Not Refundable 4 <br /> Startup Nonprofit Corporation 4 <br /> Forward-Looking Statements Involves Risks and Uncertainties 4 <br /> Projections and Assumptions not Reviewed by CPA 4 <br /> Additional Funding 4 <br /> Business Model Unproven 4 , <br /> Use of Proceeds 5 <br /> Membership 5 <br /> Eligibility and Classes of Members 5 <br /> Refund of Loan Fund Deposits 5 <br /> No Rights in Assets and Earnings 5 - <br /> Members to Elect Certain Directors 5 <br /> Limited Rights of Governance 6 <br /> Transfer of Membership Restricted 6 <br /> No Liability for Debts of MCCF 6 <br /> No Limit on Number of Members and Size of Loan Fund 6 <br /> Closing 6 <br /> Initial Closing 6 <br /> Additional Closings 6 <br /> Early Termination of Participation 6 <br /> Capitalization 6 <br /> Financial Statements and Financial Data 7 <br /> Business Plan 7 <br /> Puns 7 <br /> Loan Origination and Other Benefits 7 <br /> Loan Origination Fees and Closing Expenses 8 <br /> Member Obligations Limited 8 <br /> Loan Criteria 8 <br /> Sequence of Events-Development Loan Origination to Loan Closing 8 <br /> Sale of Pre-Approved Loans to Secondary Market 9 <br /> Loan Closing 9 <br /> Sources of Revenue 10 • <br /> Working Capital 10 <br /> Projections and Assumptions 10 <br /> i <br />