The Detroit Midtown Micro-enterprise Fund Corporation provides micro-loans to under served sole proprietorship’s and small business enterprises who do not have access to traditional commercial bank financing in the cities of Detroit, Highland Park, Hamtramck, Ecorse, Lincoln Park, River Rouge and Pontiac Michigan. The micro loans available range from a minimum of $1,000.00 to a maximum of $10,000.00 for new businesses and up to $25,000.00 for established businesses.
Detroit Micro-enterprise Fund Description
Detroit-area entrepreneurs are starting hundreds of businesses, but they struggle when they can’t obtain the necessary capital to provide their productions and services for a variety of reasons, many small businesses often can’t rely on traditional sources of funding, such as banks and credit unions for business loans. The mission of the Detroit Micro-Enterprise Fund is to provide growth capital for small businesses. The goal of the Fund is to support emerging, start-up, and existing businesses, create jobs, and help sustain operations during difficult times, explore growth opportunities and expand hiring of workers. The fund also provides counseling mentor support.
The Detroit Micro-enterprise Fund Offers:
- Small business loans at reasonable rates
- Business training
- Technical Assistance
- Mentoring programs
- A peer support system
- Special programs for high technology firms
Detroit Micro-enterprise Fund Annoucement