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Follow on Google News | Micro Loans Available for Small BusinessesWe provide the tools and resources to build- up a community with money being just one resource. We mentor, train, and build networks of small business owners at a neighborhood level, all to help businesses thrive and grow through community support.
By: CEED The Small Business Detroit Microloan Program was created through a partnership between the City of Detroit‘s Mayor Office of Neighborhood and Commercial Revitalization and the Center for Empowerment & Economic Development (CEED). This is the 1st Comprehensive Micro Loan program in the City of Detroit. CEED has over 24 years of experience in supporting women and minority –owned business with programming, resources and microloans. We provide the tools and resources to build- up a community with money being just one resource. We mentor, train, and build networks of small business owners at a neighborhood level, all to help businesses thrive and grow through community support. Many small businesses know that it can be difficult to obtain financing from conventional sources, due to lack of capital, no credit and insufficient collateral. While most entrepreneurs may demonstrate the ability to operate successfully, their lack of access to traditional financing requires alternative sources of financing. Thus CEEDs’ microloan program will remove barriers and provide access to needed funds. MICROLOANS ARE AVAILABLE FOR: Start-up and Expansion of a business. Microloans may be used for equipment, inventory acquisition, job creation, supplies, operating cost and some working capital. TO APPLY: Applicants are required to attend a free loan orientation. Please call 313-255-1020 for the exact schedule or additional information. LOAN AMOUNT: Microloans range is from $5,000 to $50,000 LOAN ORIENTATIONS EVERY TUESDAY AT 10AM AND EVERY THIRD SATURDAY AT 11:00PM AT THE GRANDMONT ROSEDALE DEVELOPMENT CENTER, 19800 GRAND RIVER, DETROIT, MI 48223 FOR MORE INFORMATION VISIT THE SMALL BUSINESS DETROIT MICROLOAN website at www.miceed.org or call (313) 255-1020 End
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