Michigan Small Business LoansRSS

There are several small business loan programs from SBA, USDA, EDA, etc offered through the State, Counties, Cities, Economic Development Agencies and non profit groups to create jobs and grow communities. Just a few examples of the Michigan small business loan programs on this site include:

Local Sources

  • The Target Alpena Micro Revolving Loan Program covers loans from $10,000 - $30,000.
  • The intent of the Michigan Business Growth Fund — Collateral Support Program is to participate with lenders to finance diversification projects when faced with borrowers whose projected cash flows are considered speculative by the lender.
  • Northern Initiatives loan program has the funding necessary to assist small businesses get started, grow and provide jobs in rural communities in Michigan.
  • The Opportunity Resource Fund provides loans to spur economic development in Michigan communities. Loans are generally $10,000 to $200,000 with terms up to six years. 
  • Northern Shores Loan Fund, Inc. is a nonprofit corporation established to assist entrepreneurs of Northern Michigan with education, training, business incubation and access to capital that fosters economic development for the Northern Michigan community. 
  • The Small Business Capital Access Program (SBCAP) gives banks a flexible tool to make business loans to small firms, encouraging traditional lending to the small companies that are so vital to Michigan’s economic health. 
  • The Saginaw County Revolving Loan Fund (RLF) is available for companies making new investment and creating jobs in Saginaw County. 
  • The purpose of the East Michigan Council Of Governments USDA Intermediary Relending Program is to alleviate poverty and increase economic activity and employment in certain rural Michigan Counties.
  • Clare County Community Development offers a revolving loan fund for businesses in Clare County, Michigan up to $30,000.

Federal Sources The Small Business Administration (SBA) and USDA Rural Development also provide loan guarantee programs for Michigan entrepreneurs who need additional assistance in qualifying for bank financing.