Areas Served: Statewide 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.
Borrowers must have been turned down by another lender or the project or business does not meet traditional underwriting standards.
The Fund provides loans for the start up or expansion of a small business.
These loans can be used for pre-development costs, acquisition, construction or renovation of a building, or purchase of land.
Inventory and working capital for a planned business expansion are also available.
Further, at least two of our social criteria must be met: – Demonstrates community control or local self determination – Demonstrates alternative business practices (cooperatives) – Employs low income people – Empowers disadvantaged people (woman/minority owned businesses) – Reinvests in a decaying area or reduces blight – Uses ecologically sensitive approaches – Leverages other resources – Provides partnership, collaboration and cooperation
Contact InformationOpportunity Resource Fund
Address: 1000 S Washington
City: Lansing
State: Michigan
Website:
http://www.oppfund.org/lending/micro-enterprisesmall-business/
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