The
Small Business Detroit Microloan Program provides financial support for new and existing small businesses that are currently located in or wanting to locate in the city of Detroit. Some of theses businesses may have trouble meeting collateral or credit rating requirements of lenders. Others may need assistance with payment terms due to short-term cash flow concerns. Some businesses may not qualify for conventional financing for these reasons. This fund will make loans available to these business owners.
The SBDML is administered by CEED (Center for Empowerment and Economic Development) and housed at 19560 Grand River Ave., Detroit, MI 48223 between Evergreen and Southfield Fwy.
APPLYING FOR A SMALL BUSINESS MICROLOAN FOR YOUR VENTURE:
Microloan orientations are mandatory for small business owners with less than 3 years experience in their businesses who are seeking to apply for microloans for their ventures. The SBDML office hosts orientation sessions every Tuesday at 10 a.m. at the offices of Grandmont Rosedale Development Corporation located at 19800 Grand River, Detroit, MI 48223. For more information, please contact
313-255-1020.
The SBDML developed the Entrepreneurs' Roundtables, a series of roundtable discussions to assist entrepreneurs with starting their own businesses. Each roundtable discussion specializes in a particular industry.
Previous roundtable discussions were:
- Restaurant Industry Summit
- Retail Industry Summit
- Film Industry Summit
- Contractor and Energy Efficiency Summit