Areas Served: Hillsdale, Jackson, Lenawee, Livingston, Macomb, Monroe, Oakland, Washtenaw, Wayne County
Many small businesses know the difficulty of obtaining financing from conventional sources, due to lack of capital,no credit, and insufficient collateral.
While entrepreneurs, especially women and minorities, may demonstrate the ability to operate successfully, their lack of access to traditional financing requires alternative sources of financing.
– Loan amounts are $5,000 to $50,000. – Loans must be on a secured basis, with guarantees of collateral and/or possibly a cosigner.
– Loan recipients may be allowed up to five years (60 months) to repay loans.
– Application fee is $75 (nonrefundable) – Interest rates are set at four percent (4%) above prime, with a minimum rate of eight percent (8%).
CEED serves the following counties:
¢ Hillsdale
¢ Jackson
¢ Lenawee
¢ Livingston
¢ Macomb
¢ Monroe
¢ Oakland
¢ Washtenaw
¢ Wayne County
Contact InformationCenter for Empowerment and Economic Development
Address: 2002 Hogback Road
City: Ann Arbor
State: Michigan
Website:
http://www.miceed.org/index.php?option=com_content&view=article&id=77
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