Business Development

This section provides a wealth of information and resource links on launching new businesses, growing established businesses, technical assistance, entrepreneurship, strategic partnerships, job development, and many other resources. 


Business Accelerator Network for Southeast Michigan

Supported by a 3-year, $3 million grant from the New Economy Initiative for Southeast Michigan, the Business Accelerator Network for Southeast Michigan is a new region-wide network for building and retaining new business in southeast Michigan comprised of Ann Arbor SPARK, Automation Alley, the Macomb OU-INCubator and TechTown.  The Business Accelerator Network for Southeast Michigan works collaboratively to attract and retain business in Southeast Michigan by sharing best practices, hosting events focused on addressing issues and goals that impact the region, supporting business plan development and leveraging funding to grow business in the region.  Among the network's strengths are education and coaching available to all stages of entrepreneurs, funding available to qualified clients, strong university relationships, and a high number of dedicated volunteers.  For more information, visit

Accelerate Michigan Innovation Competition

The Accelerate Michigan Innovation Competition is an international business plan competition designed to highlight Michigan as a robust and vibrant venue for innovation and business opportunity.  It targets mid-to-late stage business startups with potential to generate an immediate impact on Michigan’s economy, as well as student concepts with longer-term business viability. The Competition is led by the newly formed Business Accelerator Network for Southeast Michigan, the Business Leaders for Michigan, the University Research Corridor (Michigan State University, the University of Michigan, and Wayne State University), and the New Economy Initiative.

The competition fuels innovation-based business growth by uncovering the best and brightest new business concepts from local and global entrepreneurs, exposing those opportunities to potential investment capital, and fostering their growth within Michigan.  With more than $1 million in cash winnings, plus in-kind awards of services, staffing and software, the Accelerate Michigan Innovation Competition is the world’s largest business plan competition.  For more information, visit


Motor City Match

Motor City Match connects new and expanding businesses with Detroit's quality real estate opportunities, providing them with funding and tools to fuel the city's entrepreneurial revolution. The program offers two tracks. Track 1: Building Owner: This track is for Detroit building owners looking to lease vacant space to a quality business - whether you are just starting the search or starting renovations for a new tenant.  if you have a vision, we'll help you build it. Track 2: This track is for businesses looking for quality real estate opportunities, so they can start or expand in Detroit.  Whether you have the next great business idea and are looking for a place to make it happen, or you've recently signed a lease and started building your dream, we'll help you do it in Detroit. Apply today at or call 844-DET-4MCM or email: [email protected]


Detroit Economic Growth Corporation (DEGC)

Detroit Economic Growth Corporation is a non-profit organization that works closely with the City of Detroit and other partners to support existing businesses and to bring new companies and investments to the city. The DEGC also acts as staff for a number of public authorities whose board members are appointed by the Mayor and approved by Detroit City Council. Each of those entities has distinct responsibilities and powers, but they are very closely related. By using a common staff, the work of these public authorities is well coordinated and avoids duplication. DEGC also works directly for the City of Detroit under contract and manages economic development efforts funded by private and foundation contributions, grants, and contracts.  For more information, visit or call 313. 963.2940.

Creative Corridor Investment Fund (CCIF)

The Detroit Economic Growth Association (DEGA) created the CCIF to attract and retain creative businesses to Detroit’s Creative Corridor. In partnership with the Detroit Investment Fund (DIF), DEGA and DIF identified $2.5 million to assist building owners and innovative companies that are located in the Creative Corridor. Detroit's Creative Corridor covers the Central Business District and Midtown, including New Center. The goal is to create 125,000 sq. ft. of office space designed specifically for companies in the creative industries and 400 new jobs in Detroit over the next five years. The Fund also expects to create new centers of dense commercial activity that attract creative talent and companies. The two programs involve matching funds for building owners to prepare existing spaces for tenants in creative industries and rent and parking subsidies for eligible businesses that are bringing new creative jobs to the Corridor. For more information on the Creative Corridor Investment Fund (CCIF), visit or call 313.237.6096.

Detroit Business to Business - D2D

D2D is about connecting buyers and sellers in Detroit.  Based on models in other cities such as New York, Philadelphia and San Jose, the program is an approach that can be integrated into Detroit’s business culture and business support community.  Source Detroit (formerly Buy Detroit) is the Midtown Anchor procurement initiative that has been successful and a valuable pilot for a citywide program.  Midtown Detroit, Inc. works closely with the anchors to identify their opportunities and with DEGC staff identify potential Detroit vendors.  Activities of the D2D program include:

  • Programs to help connect buyers and sellers through matchmaking tools (e.g. the database, networking, "meet the buyer" events, procurement chief roundtables)
  • A supplier technical-assistance program (e.g. bidding, e-procurement, business planning) to help local suppliers get stronger and compete for contracts
  • Collaborative events/programming with other agencies looking to match Detroit businesses with opportunities outside of region and state

D2D Program partners include Source Detroit Midtown Anchor Procurement Initiative, Detroit Area Chamber of Commerce Connection Point and Michigan Economic Development Corporation’s Pure Michigan Business Connect (PMBC).  

For more information, visit or call 313. 963.2940. 
For additional information about the individual initiatives visit: 
- Connection Point contact [email protected].
- Pure Michigan Business Connect at and its free B2B portal for all Michigan businesses located at[CH1] 

The Green Grocer Project (GGP)

The Green Grocer Project will help create competitive, sustainable grocery offerings in Detroit neighborhoods while providing improved fresh food access to Detroit residents.  The Green Grocer Project was launched with a $500,000 seed grant from The Kresge Foundation. The Detroit Economic Growth Corporation (DEGC) manages the program, which includes a Grocer Clearinghouse Program for existing store operators and operators interested in making new investments in Detroit; Technical Assistance Program to participating grocers in addressing operational and store development needs; and Funding Assistance Program for store improvements.

The Green Grocer Project program is open to grocers whose stores are located within the boundaries of the City of Detroit and which offer significant merchandise in the following categories: produce, meat, dairy, baked goods, and grocery items. Visit or for full program details and eligibility requirements, please contact the DEGC Green Grocer Project desk at 313.963.8839, or email [email protected]. [CH2] 

Renewable Energy Detroit Initiative (REDI)

The Renewable Energy Detroit Initiative mission is to attract and grow a Detroit-based cluster of energy-related component manufacturers, and industry service providers.  The REDI initiative focuses on Wind, Solar, Battery, and specific application areas (includes waste-to-energy, fuels/bio, lighting, energy efficiency, and advanced manufacturing).   Partners of the REDI program include public utilities, NextEnergy, TechTown, the Detroit Regional Chamber, the Michigan Energy Office and the Michigan Economic Development Corporation). 

Services offered involve finding affordable and functional real estate that supports manufacturing needs and connections to the local, regional, and international supply chain.  REDI has a network of partners who specialize in project development resources (such as technology validation, procurement opportunities, and employment training programs) and can offer guidance through the various approval processes at the local and State levels.  For more information, visit or contact Tracie Tillinger at 313-963-2940 or via e-mail at [email protected].


REVOLVE is a collaborative program of the Detroit Economic Growth Corporation (DEGC) that partners with local leaders, building owners, entrepreneurs, and artists to activate vacant storefronts with transformational businesses and art installations.  The goal of the program is to foster the evolution and vibrancy of Detroit's neighborhood business districts.  

For more information, contact Michael Forsyth at 313.237.4629 or via email [email protected] or visit and follow Revolve Detroit on Facebook and Twitter for the latest updates and opportunities. [CH3] 

SmartBuildings Detroit Grant Program

The Economic Development Corporation of the City of Detroit (EDC), together with Detroit Development Fund (DDF) is offering an energy efficiency loan product to small commercial customers.  Loans between $50,000 and $150,000 are available for commercial properties seeking to install energy saving improvements.   

 SmartBuildings Loans must finance eligible energy-saving improvements in commercial buildings in Detroit that are owned or occupied by nonprofit organizations or for-profit entities including, but not limited to, grocery stores, restaurants, civic organizations, minority-owned businesses, low-income housing developers, etc. Energy saving improvements could include:

  • Building Enclosures - Insulation and weatherization, glass replacement. 
  • Building Systems – Lighting and electrical, HVAC, low flow water/plumbing. 
  • Alternative Energy Generation - Solar panels, geothermal, wind, & water systems            

For more detailed information see visit To receive an application contact: Andrea Haas, Associate Project Manager Economic Development Corporation 313.237.4622 or [email protected]  


Detroit Employment Solutions Corporation

The Detroit Employment Solutions Corporation provides local employers with assistance in finding the talent they need to take their business to the next level. Whether you are looking for management staff with higher education qualifications or shop floor employees, DESC will work with you to find the exact candidates you need. DESC provides a full array of HR related services, which include:

  • Placement of advertising for open positions
  • Posting open positions to job boards
  • Pre-screening of applications
  • Conducting hiring events
  • Providing interviewing facilities
  • Developing custom training programs

For more information on how DESC can help you, visit: 


The New Economy Initiative

The New Economy Initiative (NEI) is a special project of the Community Foundation for Southeast Michigan (CFSEM). NEI is one of the largest economic development initiatives of its kind, working to build a network of support for entrepreneurs and small businesses. The mission of the NEI is to create an inclusive, innovative regional culture by reawakening and leveraging Detroit’s creative entrepreneurial drive. The overarching goal is to establish a more diverse economy where opportunity, wealth, and prosperity are available for all.

NEIdeas: Rewarding Ideas for Business Growth

NEI believes that a great idea can help a business grow. NEIdeas celebrates existing businesses in the cities of Detroit, Hantramck, and Highland Park – rewarding those with the best ideas for growth. There will be a total of $500,000 in cash awards, in addition to business support, to over 30 businesses. NEI has two types of awards:

  • The 10K Challenge: provides awards of $10,000 each to 30 businesses that gross under $750,000 annually with ideas to grow
  • The 100K Challenge: provides awards of $100,000 each to 2 businesses that gross over $750,000 and under $5 million annually with ideas to grow ‘big.’


Detroit Development Fund (DDF)

DDF is a non-profit organization and a certified community development financial institution formed with a mission to assist in the revitalization of economically distressed areas in the city of Detroit. Detroit Development provides loans and technical assistance to small business owners, developers, building owners, contractors, and subcontractors who are unable to acquire certain levels of capital necessary from traditional financing sources. DDF offers products and services to assist in revitalizing businesses and neighborhoods in Detroit creating economic equity, and promoting a healthy environment.

The Detroit Development Fund manages two loan programs. The first loan program is capitalized with PRIs (Program Related Investments) from the Ford and Knight Foundations, a line of credit from LaSalle Bank, and grants from Ford, Kresge, and the New Economy Initiative. The second loan program is the Detroit Community Loan Fund (DCLF), a private, for-profit entity in which Detroit Development Fund is a minority investor. The DCLF is a small business-lending fund organized by Invest Detroit

“Late Stage” Pre-Development Loans:     

DDF makes investments/loans for predevelopment or preconstruction purposes in affordable housing projects, multi-family rehab, and other projects including commercial developments that stimulate neighborhood revitalization. These loans bridge the gap between the early stages of pre-development and the stage where the project could qualify for pre-construction or construction financing. Detroit Development will make predevelopment loans available to both for-profit and non-profit developers who have a track record and capacity, but the lack of cash to move the project forward and/or the balance sheet strength to leverage additional financing. To qualify for a pre-development loan, the project should meet one or more of the following criteria:

  • Project located in or adjacent to Detroit neighborhoods that are predominantly lower-income
  • Create for-sale or rental housing that is affordable to low/moderate income households in Detroit
  • Create homeownership opportunities for lower/moderate-income households in Detroit
  • Create jobs for lower-income Detroit residents
  • Strengthen access to community services for lower-income Detroit residents
  • Strengthen commercial districts in lower income Detroit neighborhoods
  • Otherwise economically or socially strengthen predominantly lower-income Detroit neighborhoods

Loan information:

  • Loan amounts usually range from $50,000 to $200,000
  • Loans will generally have repayment terms of 12 to 48 months
  • Loans may be written with interest only features for a portion of the loan term    

 Pre-Development Loan proceeds are not limited to, but in general, can be used for land acquisition; architectural drawings; environmental remediation; purchase of materials prior to construction; and advance pre-sale marketing efforts.  For more information on the Detroit Development Loan Program - Pre-Development Loan Program, visit or call 313.784.9547.

Small Business Loan Program

The purpose of the DCLF and DDF’s small business-lending program is to support the growth of Detroit-based business, particularly those owned by entrepreneurs of color and by women. It targets small businesses with growth potential and management insight that lack sufficient collateral or owner equity to qualify for financing from mainstream lenders. To qualify for a small business loan, a business should meet the following criteria:

  • Business must be located in the City of Detroit
  • Have annual sales of at least $100,000; and have fewer than 50 employees
  • Have been in existence for at least 12 consecutive months
  • Have demonstrated growth potential; and have the ability to continue to grow and retain or add new jobs
  • Have been unable to obtain sufficient financing from traditional lending sources

Loan information:

  • Small business loan amounts range from $50,000 to $150,000
  • Most loans will have terms of 24 to 84 months, depending on use of funds

 **Exceptions may be made to the length of time in business and annual sales criteria for franchises or in other situations approved by the loan committee.   

DDF's Small Business Loan Program proceeds can be used for most business purposes, including but not limited to: working capital for expansion, equipment financing, accounts receivable financing, business acquisition, marketing/new product development, sales expansion, physical plant expansion, and improvements to manufacturing system. 

For more information on the Detroit Development Loan Program - Small Business Loan Program, call 313.784.9547 or visit

Pre-Construction Loan Program

DDF anticipates that most borrowers will be small to medium-sized developers, rehabbers, and contractors. Also considered are projects being developed by non-profit developers, including community development corporations and faith-based institutions with proven track records. Detroit Development will make pre-construction loans into real estate development projects that can yield positive social impact in low and moderate-income Detroit neighborhoods. To qualify for a pre-construction loan, projects should meet one or more of the following criteria:

  • Project is located in or adjacent to Detroit neighborhoods that are lower income
  • Create for-sale or rental housing that is affordable to low/moderate income households in Detroit
  • Create homeownership opportunities for low/moderate income households in Detroit
  • Create jobs for lower income Detroit residents
  • Strengthen access to community services for lower income Detroit residents
  • Strengthen commercial districts in predominately low to moderate income Detroit neighborhoods
  • Otherwise economically or socially strengthen predominantly low/moderate income Detroit neighborhoods

Loan information:

  • Pre-construction loan amounts range from $50,000 to $200,000
  • Most loans will have terms of 6 to 24 months   

 Pre-Construction Loan proceeds can be used for infrastructure improvements, construction of models, and façade improvements.  For more information on the Pre-Construction Loan Program, visit or call 313.784.9547.

Contractor Lines of Credit Loan Program

DDF’s contractor lines of credit will provide financing for contractors that are related to a specific contract or purchase order.  To qualify for a contractor line of credit loan, projects should meet one or more of the following criteria:

  • Similar to Small Business Loan program criteria
  • Have 1 to 2 years of experience or have completed MSHDA Contractor Assistance Program, or similar program
  • Have contract or purchase order to perform work
  • Will use Detroit residents to complete portions of contract

Loan information:

  • Contractor lines of credit amounts usually range from $30,000 to $100,000
  • Draws on the line of credit will be used on work completed by the contractor; contractor’s project will be monitored
  • The lines will generally have terms lengths of 6 to 12 months
  • The lines will generally be structured with interest only payments with principal recovery as the contractor receives payments

 **Exceptions may be made to revenue and length of time in business criteria, depending upon the specific project and the company paying the contractor for the service.  

Contractor lines of credit proceeds can be used to finance payroll through the accounts receivable collection period, purchase materials, and cover operating expenses.  For more information on the Detroit Development Loan Program - Contractor Lines of Credit Loan Program, visit or call 313.784.9547.


Detroit Micro-Enterprise Fund (DM-EF)

The Detroit Micro-Enterprise Fund assists small businesses in their initial stage of development and established businesses with loan amounts ranging from $1,000 to $20,000 for startups and up to $50,000 for existing businesses.The Detroit Micro-enterprise Fund wants your business to succeed. The Fund actively seeks loan applicants with business acumen and moral character who can build a profitable business in their neighborhood and make an important contribution to their community.The Detroit Micro-enterprise Fund provides micro-loans to underserved new and established small businesses in Detroit, Hamtramck, Highland Park, Pontiac, Ecorse, River Rouge and Lincoln Park that do not have access to traditional commercial bank financing. The fund focuses on companies that provide services and improve the quality of life in their neighborhoods.

Profile of a Detroit Micro-enterprise Fund Loan:

  • Range from $1,000 to $50,000
  • An interest rate of prime plus 2%. Floor of 7%
  • Terms are from six months to five years
  • A one-time $50 fee for filing a full loan application.
  • Closing cost, of up to 1% of the loan.

 Loan Products

  • Loans for New Start-ups
  • Loans for Existing Businesses
  • Green Enterprise Fund
  • Women’s Empowerment Fund
  • SBA Micro-enterprise Intermediary Loan Fund
  • Core Loan Fund
  • Michigan Food Movers Fund
  • Technology Fund
  • Urban Loan Fund

 For more information on the Detroit Micro-Enterprise Fund (DM-EF), call 313.263.4032 or visit


Family Tree Loans

Family Tree Loans is a group of financial, legal and title experts, and licensed practitioners who have been supplying documents for family, friends, peer to peer, and social loans for over five years. Family Tree Loans provides facilitating support when a person is considering a loan from family and friends to start a business, lending money to family or friends, or determining whether to enter into a financial transaction. Family Tree Loans can expertly assist you by asking the right questions, then providing self-help documents, which will protect the agreements you make. For more information, visit or call toll free 1.877.PEER.LOAN.


Hatch Detroit

Hatch Detroit is a vehicle to champion and support independent retail businesses in Detroit through funding, exposure, education, and mentoring. The non-profit organization gives away $50,000 in cash and a suite of free services to the winner of its Hatch Detroit contest. Submissions of retail business plans are accepted until each year’s deadline. The winner of the Hatch Detroit Retail Business Contest is decided by a combination of the public vote and Hatch Detroit judges’ votes. The public vote is weighted 75% and the judges’ vote is weighted 25%. To learn more, including the guidelines for submitting a plan, go to or email [email protected].


Hebrew Free Loan Small Business Loan Program

Thanks to the generosity of Stephen and Nancy Grand and to Marvin I. Danto and the Danto family, Hebrew Free Loan can provide qualifying Jewish entrepreneurs in Michigan interest-free loans up to $100,000 to support business start-ups and expansions. The Marvin I. Danto Small Business Loan Program has funding available for a variety of business models. Interviews and loans are granted on a case-by-case basis. We require co-signers, 51 percent Jewish ownership, and payback terms that are within three to five years. Loan recipients also will be assigned a customized mentor. It all begins with an email or a phone call to determine eligibility for the application process. Contact Rob Schwartz at [email protected] or at 248-882-7909.

Community Bank Partner Loans

Hebrew Free Loan partners with Main Street Bank to secure traditional loans through a community bank partner for qualifying applicants. By working together, Main Street Bank offers loans through their regular process, while Hebrew Free Loan guarantees a portion of the collateral for the loan. Hebrew Free Loan will pledge collateral of up to 25 percent of the loan amount (with a maximum of $25,000 pledged on a $100,000 loan). For additional information on our Community Bank Partner Loans, please contact Jeff Koppelman at 248-645-8888 or visit


Invest Detroit

Invest Detroit is a leading source of private sector gap financing that utilizes a variety of funding tools to support economic and community development in underserved communities primarily in the City of Detroit.  Invest Detroit and its related entities were formed to facilitate funding from the public, private and foundation sectors and to address targeted needs of the communities it serves. Representing $110 million in funds and tax credits, Invest Detroit serves as a platform to meet a broad range of financing needs to support business expansion and real estate development, the creation and retention of jobs, and the revitalization of distressed areas.

Invest Detroit represents the vision of the Board of Directors and management of the Detroit Investment Fund (DIF), which was created and funded in 1995 by members of Detroit Renaissance now known as Business Leaders for Michigan.  In 2010, the DIF Board and management team enhanced and transitioned the capabilities of DIF to create Invest Detroit, which serves as an umbrella entity for DIF and other for-profit and non-profit managed funds. The efforts of Invest Detroit are intended to promote job creation, expansion of the tax base and an improved quality of life for the communities it serves. Invest Detroit’s financing tools support a variety of needs including business expansion and purchase of equipment, real estate development and redevelopment, predevelopment costs, neighborhood retail, emerging business’ development costs, and New Markets Tax Credits. Loans for strategic projects are considered when the potential exists for a long-term, clear benefit, which is critical to the economic development of the City of Detroit.  This emphasizes the Fund’s commitment to economic revitalization by financing projects that would likely not be completed without the participation of Invest Detroit.

Invest Detroit invests in eligible projects or companies from several different funding sources including Detroit Investment Fund (DIF) , New Markets Tax Credits (NMTC), Lower Woodward Housing Fund (LWHF), Predevelopment Loan Funds, Urban Retail Loan Fund (URLF), and First Step Fund.  The economic development efforts of Invest Detroit have resulted in 2,000 jobs created or retained, 1,490 housing units created or renovated, 2,230,657 residential square feet developed, 1,626,010 commercial square feet developed, and 40,000 retail square feet developed.  For more information, call the Invest Detroit office at 313.259.6368 or visit

Business & Equipment Loans

Financing from business and equipment loans may be utilized for the growth of commercial and industrial businesses in the City of Detroit.  Industries involved include manufacturing companies, distribution and logistics companies, service companies, and others.  The transaction range is $50,000 to $2.5 million for business expansion, capital improvements, purchase of equipment, purchase of real property, working capital, and restructuring of existing debt.  Loans of this type will typically be subordinated and are intended to assist the owner in meeting the financing requirements of a traditional lender.  Financial types considered are term loans, mezzanine financing, bridge loans, construction loans, and commercial mortgage real estate loans.  General loan criteria includes a business plan which demonstrates that the future financial results of the company will service the senior and capital debt, and the business must have experienced successful management with 3 years of profitable operating experience.  For more information on Invest Detroit's Business & Equipment Loans, visit or call 313.259.6368.

Emerging Business Loans

Micro-loans are available for emerging and start-up service, product, and device and technology businesses led by management teams that have relevant experience and that have successfully completed a training program through a qualified regional business incubator/accelerator.  Loan recipients receive business-to-business introductions and business mentoring from individuals with senior level expertise. Additionally, a network of sponsors and partners will assist in fostering demand and creating opportunities for companies that have received micro-loans through this program. Loan applications must be submitted by a qualified business incubator/accelerator representing the company as its sponsor. Loans range from $10,000 -$50,000 and can be used for equipment, inventory, limited tenant improvements, corporate formation and legal issues. Available loan types include Senior Term Loans, Subordinated Term Loans (balloon), Working Capital Lines of Credit, and Convertible Notes with Warrants. Loan requirements are:

  • Borrower(s) must provide a written business plan that is sponsored and submitted by a qualified business incubator/accelerator to the First Step Fund. Requested information includes financial projections for the business being financed that demonstrates the viability of the business with detailed budgets and demonstrated repayment capacity. Plans must also include detailed marketing, financial and operations plans.
  • Borrower(s) must have a personal investment in the project.
  • Completion of predevelopment/start-up work and project timeline.

Qualified Sponsors’ Training Programs include TechTown SmartStart, TechTown FastTrac, SPARK Entrepreneur Boot Camp, TechTown and SPARK Business Accelerators, and TechTown and SPARK Regional Incubator Networks, and TechTown and SPARK Wet Lab Incubators.  For more details about Invest Detroit's Emerging Business Loans, visit Invest Detroit at or call 313.259.6368.

First Step Fund

The Fund, representing a partnership of Invest Detroit Foundation, TechTown, Ann Arbor SPARK and Automation Alley, supports a revolving loan pool that provides financing to emerging and newly formed small businesses in southeast Michigan, which have successfully completed a training program through a qualified regional business incubator/accelerator. The Fund support is meant to address the deficit of financing in the marketplace and to promote economic development by identifying, nurturing and fostering demand for early stage, commercially viable businesses resulting in job creation and increased tax revenue for the region.

The First Step Program gives preference to businesses owned by women and minorities and businesses with the highest potential to employ women and minorities. First Step Fund applications must be submitted by a qualified business incubator/accelerator representing the company as its sponsor. Financing types include loans and convertible notes with warrants ranging from $10,000 to $50,000. Investment terms include a defined repayment program (with option to convert to equity in most cases), two-year term, 12% interest, and 25% warrant coverage. The borrower must attempt to obtain a commitment from a traditional source of financing and preferably, have matching investments from other investors. For more information, call the Invest Detroit office at 313.259.6368 or view their website at

Invest Detroit Foundation (IDF)

IDF is a 501(c) (3) organization and certified Community Development Financial Institution formed exclusively for the purpose of receiving and administering funds for charitable, educational and scientific purposes. IDF promotes a higher quality of life for distressed communities, primarily in the City of Detroit by attracting new industry, encouraging the development of business, housing, transportation and other community resources. IDF supports this change by providing loans and financial assistance to qualified applicants to encourage revitalization and community development. In concert with operating the loan programs, IDF also conducts programmatic activities that include planning, spearheading and developing strategies for urban revitalization. The impact of the IDF loan programs includes the creation of jobs and training to the unemployed and persons of low income, and providing quality housing for the low-income community.

IDF Funds are financing resources aimed at encouraging projects where the necessary financing is not available from traditional sources, or may be available, but at high rates and restrictive terms. Financing may also be unavailable because of the poor credit risks of financing a project in the designated area. Projects will also be evaluated based on whether they have received support from local community groups, institutions, and public agencies. Loans and the repayment of funds are offered upon terms and conditions that are not available from traditional private and public financing sources. IDF Loan Programs include Core City Strategic Fund, Predevelopment Funds, and Urban Retail Loan Fund. For more information on the Invest Detroit Foundation, call 313.259.6368 or visit

Urban Retail Loan Fund (URLF)

URLF is a revolving loan program intended to stimulate economic growth and support for residential and neighborhood development in Detroit’s Greater Downtown area by providing loans to small- and medium-sized retail, service, and storefront businesses located in targeted areas including Midtown, Downtown, Riverfront, Eastern Market, and Corktown. These businesses, in turn, will provide necessary goods and services to the neighborhood, create and retain jobs, and improve the quality of life.

Created by the Detroit Investment Fund in partnership with the Michigan Economic Development Corporation (MEDC), URLF assists neighborhood businesses and drives additional economic activity in the community. To be considered for a loan under this program, applicants must be able to contribute meaningful owners’ equity in their projects, present a viable business plan, and demonstrate a successful track record.

Eligible businesses include retailers, service industries, and other storefronts with stable operations, demonstrated management strength, and successful business models. Eligible uses include working capital, purchase of inventory and equipment, and tenant improvements. Loans provided by the DURLF range from $50,000 to $500,000 with a preferred range of $100,000 to $200,000. For more information on the Urban Retail Loan Fund application process, loan terms, and eligibility, visit Invest Detroit at or contact Derek Edwards at 313.259.6368.

Neighborhood Retail Loans

Neighborhood retail loans are available to small and medium-sized retail businesses that service neighborhoods in the Greater Downtown area, which include Midtown, Eastern Market, Corktown, Downtown, and the Riverfront. Industries serviced include retailers, service industries, and other storefronts. Loans ranging from $50,000 to$500,000 are considered for working capital, purchase of equipment, and limited tenant improvements.

Loans of this type are not intended to replace conventional bank and small business financing but to supplement it and to provide financing when alternatives are not available. Acquisition financing of investor-owned real estate is not eligible for consideration under the program.  General loan criteria include a business plan that includes description of the business (including retail type), ownership, key managers and location, and marketing plan and assumptions. Additionally, applicants must contribute meaningful owners’ equity in their projects and demonstrate a successful track record. For more details, visit Invest Detroit at or call 313.259.6368.


InvestMichigan! Fund

InvestMichigan! is a series of three funds focused on generating strong returns for investors and growing the next generation of Michigan companies. In order to support companies at different stages of development, the program offers three distinct investment vehicles involving the Mezzanine Fund, Growth Capital Fund, and the Michigan Opportunities Fund.

  • The Mezzanine Fund targets mezzanine debt and equity investment opportunities in lower middle market Michigan companies. Formed in partnership with the U.S. Small Business Administration, the Fund is managed by Credit Suisse’s Customized Fund Investment Group (CFIG) and Beringea.
  • The Growth Capital Fund targets lead and co-investment opportunities in venture capital and small buyout stage companies with growth characteristics across a range of sectors. The Growth Capital Fund is co-managed by Beringea and Credit Suisse’s Customized Fund Investment Group.
  • The Michigan Opportunities Fund targets lead investment opportunities in buyouts and growth equity investments in established companies across a range of sectors and is managed by Glencoe Capital LLC.

Visit for more information on InvestMichigan! Fund or call 248.619.862.



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Kiva Detroit

Kiva City is a program that extends microfinance to small businesses across America. Kiva Detroit, the first Kiva City, assists Detroiters in championing and lending to small businesses as well as to joining the Kiva Detroit lending team. To double the impact, loans to Kiva Detroit borrowers will be matched 1-to-1 by the Knight Foundation. Field partners such as ACCION USA, work at a local level to facilitate the loans while community groups like Michigan Corps build awareness among small business owners and refer them to the program. For more information, visit


Local Initiatives Support Corporation (LISC) Small Business Loans

For profit small businesses located in one of LISC’s 30 program cities can now apply for a real estate or community advantage loan. Real estate loans range from $400,000 – $5,000,000 and can be used to assist with real estate acquisition and/or capital improvement costs. Community advantage loans range from $50,000 – $250,000 and may be used for working capital, equipment, inventory, business acquisitions, tenant improvements, acquisition and start-up expenses.

Full details regarding the Local Initiatives Support Corporation (LISC) Small Business Loans are available on the Detroit LISC web site at  For any other questions, please contact Anthony Batiste, Program Officer, at 313-596-8222 or at [email protected]


Michigan 21st Century Investment Fund

The Michigan 21st Century Investment Fund, L.P. (the "21st Century Fund" or "Program") was created, as per the provisions of the Public Act 225 of 2005 (or the "21st Century Fund Act"), through an agreement between Credit Suisse and the Michigan Strategic Fund. It seeks to strengthen and diversify Michigan's economic base by fostering the creation and growth of new jobs, new businesses, and new industries within the State through investments in private equity, venture capital and mezzanine funds, as well as potential co-investments alongside these funds. The Program was capitalized with $120.0 million of total commitments, including $6.0 million from Credit Suisse.

In January 2014, Grosvenor Capital Management, L.P. and its affiliates (together, "GCM Grosvenor") completed their acquisition of the Customized Fund Investment Group from Credit Suisse Group AG ("Credit Suisse"). GCM Customized Fund Investment Group, L.P. ("GCM Grosvenor Private Markets") operates as GCM Grosvenor's private markets business.

The Michigan 21st Century Investment Fund, L.P. is part of the overall 21st Century Jobs Fund initiative that was first announced in November 2005. Under this 10-year initiative, the State government decided to allocate up to $1.0 billion of proceeds from Tobacco Settlement monies to strengthen and diversify Michigan's economic base by focusing resources in three areas. Up to 40% ($400 million) of the amount allocated to the 21st Century Jobs Fund may be invested through the Capital Investment Program over the life of the 10-year initiative of which the Michigan 21st Century Investment Fund, L.P. is a part. The three components of the 21st Century Jobs Fund include:

  • A Capital Investment Program that seeks to make investments in qualified private equity, mezzanine and venture capital funds as well as potential co-investments alongside these funds
  • A Competitive-Edge Commercialization Program that seeks to invest in the commercialization of products, processes and services as well as basic and applied research
  • A Commercial Lending Program, which seeks to stimulate additional lending by financial institutions across the state by creating commercial loan enhancement programs


Michigan Certified Development Corporation (MCDC)

The Michigan Certified Development Corporation (MCDC) is a non-profit corporation certified by the U.S. Small Business Administration (SBA) to provide SBA 504 loan financing and SBA 7(a) loan packaging throughout the Great Lakes State.  Do Good Things for Michigan is the goal of MCDC, the largest, most successful Certified Development Corporation (CDC) in Michigan.  As part of their Do Good Things for Michigan campaign, the Michigan Certified Development Corporation (MCDC) has announced a new loan program to subsidize due diligence and certain closing costs for loans made in Detroit, Hamtramck, Highland Park, Pontiac, Flint, Saginaw and Benton Harbor - cities hardest hit during the economic downturn, both in Michigan and nationwide. 

The new loan program will subsidize up to 1% of the loan amount not to exceed $5,000.  This can be used for outside due diligence, such as appraisals and environmental cleanup and certain closing costs such as property surveys and title insurance as an example.  The program aims to help boost the economic base of struggling cities critical for their economic recovery.  MCDC and SBA will work together to make these loans available. For more information, visit or call 517.886.6612.


Michigan Economic Development Corporation (MEDC)

The Michigan Economic Development Corporation (MEDC) is a public-private partnership serving as the state's marketing arm and lead agency for business, talent and jobs, tourism, film and digital incentives, arts and cultural grants, and overall economic growth. MEDC offers a number of business assistance services and capital programs for business attraction and acceleration, economic gardening, entrepreneurship, strategic partnerships, talent enhancement, and urban and community development. MEDC, founded in 1999, also developed, and manages the state's popular Pure Michigan brand.

MEDC's website is packed with valuable information for businesses, entrepreneurs, and others interested in investing, working, and living in Michigan. For businesses, the website provides an array of support tools, some of which include: Business Connect Tool Kit, Retention and Relocation Tools, Marketing Toolkit, and access to Michigan's Commercial Property Information Exchange (CPIX). For entrepreneurs and innovators, the website offers resources for startups and small businesses, university assistance resources, and information on Accelerate Michigan, which is an innovation competition. Additional business incentives that are available include the Michigan Business Development Program, the Michigan Community Revitalization Program, a simplified and competitive business tax structure, Pure Michigan Business Connect, talent enhancement, cost-cutting and ombudsman services, federal contract assistance, financing assistance, patent/trademark work, and various local incentives. MEDC also lists many investment and lending programs specifically designed to help the capital community develop and attract equity investment and encourage traditional lending. To learn more about MEDC call 1.888.522.0103 or visit

Pure Michigan Micro Lending Initiative – Detroit

Huntington is pleased to be again leading unique investment partnerships by launching the Pure Michigan Micro Lending Initiative in collaboration MEDC and the State of Michigan. Huntington has committed $5,000,000 through 2018 to support small businesses of Detroit by providing micro lending opportunities.

Microloans range from $1,000 to $250,000 and may be used for any of the following uses:

  • Purchase of inventory
  • Working capital
  • Start-up costs
  • Purchase of equipment
  • Loan subordination
  • Business acquisitions
  • Contract financing
  • A/R Financing
  • New product development
  • Sales expansion
  • Improvements, etc.

Who is eligible for a loan?

  • Businesses located in Detroit, Southfield, Highland Park, Hamtramck, Pontiac and possibly other Metro Detroit areas.
  • Credit Score of 500 or higher
  • Small to Midsize businesses

Michigan Translational Research Acceleration and Commercialization Fund (M-TRAC)

The Michigan Translational Research Acceleration and Commercialization Fund (M-TRAC) Program uses the nationally recognized Coulter model to translate university research into products through start-ups and licenses with the goal of creating high-tech companies and jobs in Michigan. Instead of a general approach, M-TRAC creates focused commercialization programs in Michigan’s universities with in-depth domain expertise in specific areas of research. Existing M-TRAC programs are currently funded in the following areas:

  • University of Michigan Life Sciences
  • University of Michigan Advanced Transportation 
  • Michigan State University Agro-biotech
  • Michigan Technological University Advanced Applied Materials

 Visit for more information.

Business Accelerator Fund

The Business Accelerator Fund (BAF) may be accessed by participating business accelerators statewide to provide specialized business acceleration services and resources regardless of their accelerator client’s geography.

  • No company may receive more than $50K in BAF services.
  • BAF engagements are awarded through a competitive process.
  • Some company matching dollars are required.
  • If you are a company interested in participating, please contact your local SmartZone or business accelerator to determine whether you may be eligible.
    Visit for more information.

 Michigan Emerging Technologies Fund (ETF)

MEDC provides commercialization grant funds to match federal research dollars. Funds are eligible to small tech start-ups and for use in commercialization (not research) purposes only The Michigan ETF matches Phase I and Phase II Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) projects. Visit for more information.

Great Lakes Entrepreneur Quest Competition (GLEQ)

The Great Lakes Entrepreneur Quest Competition (GLEQ) is a state-wide business plan competition that takes place twice a year and offers multiple prizes including a top prize of $100,000. The GLEQ also matches companies with experienced coaches to guide them through the competition and holds more than 20 training and networking events for 400+ technology companies each year.

  • Start-up businesses as well as student teams participate.
  • Outcomes include development of a business plan and an elevator pitch for finalists. 
  • 180 volunteer judges and 300 coaches are needed for a successful competition. If you are interested in either coaching or volunteering, an average of 6 hours of your time is committed.

Visit the GLEQ website for more information. 

Pure Michigan Venture Match Fund

The Michigan Strategic Fund (MSF), through the Pure Michigan Venture Match Fund (PMVM Fund), is soliciting applications from for-profit Michigan-based companies that have received an equity investment commitment from a qualified venture fund for commercialization and growth purposes to provide a match of the investment as follows:

  • Qualified venture led investments from $700,000 to $1,000,000 will be matched by a 50% ($350,000 to $500,000) investment from the PMVM Fund.
  • Qualified venture led investments from $1,000,000.01 to $5,000,000 will be matched by a $500,000 investment from the PMVM Fund. 
  • Applications must be submitted to [email protected]

The PMVM Fund Guidelines are designed to provide potential applicants with sufficient information to submit a proposal that meets the MSF’s minimum requirements. The minimum requirements contained in the PMVM Fund Guidelines are not intended to limit the proposal’s content or exclude any information the applicant feels is relevant or essential to their bid. Visit for more information.

Michigan Angel Fund

The Michigan Angel Fund (MAF) provides funding to capital efficient early stage companies located in Michigan. MAF works closely with other stakeholders in the Michigan entrepreneurial ecosystem to ensure that we invest in the most promising companies and to ensure the future success of these companies and our investments. MEDC provides administrative support only, but investments and screening is done by private investors. Visit for more information

Michigan Pre-Seed Fund 2.0

Invest Michigan is the manager of the Michigan Pre-Seed Fund 2.0. As fund manager, Invest Michigan has a contract with the Michigan Strategic Fund to direct and manage a $6.8 million investment fund. The fund works with Michigan entrepreneurs to build high-tech sustainable enterprises by connecting technology startups to resources, providing capital to startups, and actively engaging with entrepreneurs to help them grow their businesses. The fund invests in Michigan companies with the following technologies: advanced automotive, manufacturing and materials, agricultural technology, alternative energy, homeland security and defense, information technology, life sciences and other innovative areas. 

The fund offers equity, debt or convertible debt investments, depending on the stage of the company and the co-investors participating in the financing. A minimum of 1:1 in matching funds are required. The three types of investments available are:

  • Micro-Investments of up to $50,000
  • Pre-seed Debt, Convertible Debt or Equity Investments of up to $150,000
  • Follow-on Investments of up $150,000

 Visit for more information.

Michigan Pre-Seed Fund Investment Program

The Michigan Pre-Seed Capital Fund supports high-tech start-up companies as they near commercial viability by providing access to early-stage capital, accelerating company development. As a central fund to the Michigan SmartZone Network, these funds are designed to support this critical stage in the development lifecycle to prepare companies for follow-on private investment.

  • The Pre-Seed fund investment is a convertible note up to $250,000.
  • Eligible companies have less than $1 million in revenues and less than $1 million in third party funding.
  • 100% matching funds from a third party source are required.
  • Eligible companies will need to be past the concept development and analysis phase.

Visit for more information.

Energy Loans

Small businesses looking for support for building energy retrofits, process improvements, retooling/manufacturing and clean energy projects may qualify for an Energy Efficiency and Renewable Energy (EERE) loan offered through the Michigan Energy Office. Businesses must have projects that: 

  • Are ready to go no later than 30 calendar days of the loan agreement effective date;
  • Reduce energy consumption by at least 20% (building retrofits);
  • Equipment purchases for general and advanced-manufacturing of commercially available products; and
  • Contribute to a reduction in greenhouse gas emissions.

Visit for more information.

Michigan Accelerator Fund I

Michigan Accelerator Fund I is an investment partnership headquartered in Grand Rapids, Michigan. The purpose of this venture capital fund is to achieve significant, long-term capital appreciation for its investors. The Fund invests in early stage companies that fall into one of six target sectors: life sciences technology; advanced manufacturing; homeland security; alternative energy technology; information technology; and agriculture. Companies must be based in Michigan. The Fund focuses primarily on seed and early stage venture capital investments in life science technology companies. Visit for more information.

Venture Fellows Program

This 18-24 month program will allow up to 10 fellows in a three year period to be hired at the venture capital firms in Michigan to create opportunities for emerging leaders who want to stay or move back to Michigan to seek careers in venture capital. Visit for more information.

Michigan SmartZone Network

This innovative, statewide program connects universities, research organizations and corporations to stimulate the growth of technology-based businesses and jobs. Visit for more information.

Michigan Manufacturing Technology Centers (MMTC)

MMTC provides Michigan’s small- and medium-sized manufacturers with operational assessment, process improvement training, mentoring services, website technical assistance and market diversification tactics. Visit for more information.

Michigan Technical Education Centers

Eighteen state-of-the-art centers are associated with Michigan’s community college system. They provide educational, training, and workforce development infrastructure for Michigan’s businesses. Visit for more information.

Pure Michigan Business Connect

This public/private program is focused on partnering Michigan businesses to help them grow. Developed by the Michigan Economic Development Corporation, PMBC helps companies find resources to expand their supply chain, discover new business opportunities, access a business-to-business network and provides services like legal and accounting assistance at little or no cost.

Connect and grow your Michigan business, visit for more information.


Michigan Small Business and Technology Development Center (MI-SBTDC)

The Michigan Small Business Development Center (SBDC) enhances Michigan’s economic well-being by providing counseling, training, secondary market research for new ventures, existing small businesses and advanced technology companies. With offices statewide, the SBDC positively impacts the economy by strengthening existing companies, creating new jobs, retaining existing jobs, and assisting companies in defining their path to success.

With their headquarters at GVSU, 11 regional offices, and more than 20 satellite offices provide you with convenient access to counseling and training throughout Michigan’s 83 counties.

No-cost assistance is offered in everything from writing a business plan to finding ways to finance your startup to expanding your business into international markets. For whatever your business needs, get started by visiting


Michigan Women's Foundation

With a 29 year history of high impact work, Michigan Women’s Foundation is devoted to fostering economic empowerment for Michigan’s women and girls through philanthropy and investment.  In response to a compelling need that exists still today for women to further advance their social, economic and professional well-being to an equitable level in society, MWF and its partners and supporters have committed financially and intellectually to leaving this world a better place for women and girls. For more information on the Michigan Women's Foundation, visit

Michigan Women’s Microloan Fund    

The Michigan Women's Microloan Fund is a financing program available to women entrepreneurs and small business owners. It is often difficult for newly formed but promising businesses to obtain financing; the Michigan Women's Microloan Fund is designed to meet that need. Microloans range from $2,500 to $40,000 and may be used for any of the following:

  • Purchase of inventory
  • Working Capital
  • Start-up costs
  • Purchase of equipment or leasehold improvement directly related to the growth of business
  • Loan subordination
  • Business acquisition
  • Contract financing

For more information on Michigan Women’s Microloan Fund visit or contact Katie Oswald [email protected].

Dolphin Tank & Business Plan and Pitch Competition

Michigan’s Women Foundation is now accepting applications for the 2015 Entrepreneur YOU Business Plan and Pitch Competition. Women entrepreneurs at any stage of business in any industry are welcome to apply. Applicants will select to participate in one of two competitions (Southeast Michigan or West Michigan) and must submit a two page concept paper along with a $10 processing fee by 5 p.m. July 13th, 2015 at

Important Dates:

  • July 13th, 2015: Deadline for application and concept paper submissions
  • August 10th, 2015: 20 semifinalist announced
  • August 15th, 2015: Semifinalists matched with coaches
  • September 24th, 2015: Dolphin Tank practice pitch session
  • September 30th, 2015: Business plan due for review by judges
  • October 9th, 2015 Entrepreneur YOU Business Plan and Pitch – Walsh College, Troy


Midtown Detroit, Inc. Facade Improvement Matching Grant and Security Matching Grant Program

Facade Improvement Matching Grant Program - Designed to encourage the upgrading of Midtown storefronts, the program offers a 50% matching grant for select commercial properties seeking to rehabilitate their building facade.

Security Matching Grant Program - The program helps business and property owners, in the Midtown area, add and/or upgrade security and surveillance mechanisms on their property. As part of the grant, the program requires each property to undergo a security audit conducted by the Wayne State University Police Department. Requested improvements may include items such as decorative fencing, deadbolt locks, lighting, camera and alarm systems, and electronic parking gate locks. For more information, visit this website and search for facade or call 313.420.6000 for updates on the availability of these incentive programs.



NextEnergy is a leader in driving advanced-energy technologies and sustainability in areas such as Smart Grid, Advanced Energy Storage, Vehicle Electrification, Power Electronics, and a wide range of fuels, and renewables involving wind, solar, biofuels, and energy efficiency. NextEnergy offers business-consulting service and technical resources necessary for projects to be developed and validated. NextEnergy can provide key testing platforms and research-laboratory space, assistance with onsite project management, oversight of experiments, and web-based access to real-time test data.

NextEnergy works with inventors and early-stage alternative energy companies; facilitates strategic planning, market research, financing strategies; and connects with resources in areas such as economic development, government agencies, and nonprofit and business networks. They also lead public/private consortiums for federal research projects, providing both built-out laboratories and testing platforms. For more information, call 313.833.0100 or visit


Opportunity Resource Fund

OppFund is a nonprofit 501(c)(3) community development financial institution serving the entire State of Michigan. We are a catalyst for positive change, be it funding affordable housing, enabling job creation, supporting small businesses, providing affordable mortgages, or funding the development of great commercial spaces. While our name has changed over the years (you may have known us as Michigan Housing Trust  Fund and/or McGehee Interfaith Loan Fund) OppFund's entire team and Board of Trustees remain firmly committed to our mission, vision, and core values as we enter our third decade working for social and economic justice. For more information, call 313.964.7300 or visit

Micro-enterprise/Small Business

The Opportunity Resource Fund provides loans to spur economic development in Michigan communities. Loans are generally $10,000 to $250,000 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.  To participate, the borrower must meet at least two social criteria, which may include: 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; and provides partnership, collaboration and cooperation.  The following are three loan categories: 

  • Micro-Enterprise/Small Business 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.
  • Nonprofit Facility and/or Working Capital Loans to nonprofit organizations to acquire, renovate, or construct a building for use in the delivery of their services to low income or disadvantaged people. Working capital loans to assist with the cash flow needs of nonprofit organizations are also available.
  • Commercial Real Estate Development provides loans to both nonprofit and for-profit developers to assist with the revitalization of commercial real estate. These loans can be used for pre-development costs, acquisition, construction or bridge financing, as well as short-term permanent financing.

 For more information on the Micro-enterprise/Small Business opportunity, contact the Detroit office at 313.964.7300 or visit:

Development Services

The Opportunity Resource Fund provides small businesses and nonprofits with technical assistance that can help them start strong, gain success and continue to grow. The Fund offers strategic development, business planning (such as relocation, establishing short-term goals, etc.), accounting, marketing, financing and consulting services. For more information, call 517.372.6001 or visit


Small Business Detroit! MicroLoan

The Small Business Detroit Microloan Program (SBDMP) was created through a partnership between the City of Detroit Mayor’s Office of Neighborhood and Commercial Revitalization (ONCR) and the Center for Empowerment & Economic Development (CEED). The purpose is to provide business start-up and expansion financing to those businesses in Detroit that cannot obtain traditional financing.

The program is funded through the Casino Business Development Fund created under the temporary casino agreements. One-and-a-half million of the funds are designated to assist first-time entrepreneurs and other underserved populations with start-up or expansion of small businesses. The Small Business Detroit MicroLoan Program will offer microloans ranging from $5,000 to $50,000.  The SBDML is administered by CEED (Center for Empowerment and Economic Development). For additional information, contact the CEED office at 734.677.1400 or visit


State of Michigan

Commercial Facilities Exemption (CFE) P.A. 255 of 1978, as amended

The Commercial Redevelopment Act, (known as the Commercial Facilities Exemption), PA 255 of 1978, as amended, affords a tax incentive for the redevelopment of commercial property for the primary purpose and use of a commercial business enterprise. The property must be located within an established Commercial Redevelopment District. Exemptions are approved for a term of 1-12 years as determined by the local unit of government and the taxable value is frozen for the duration of the certificate. For restored facilities, the property taxes are based upon the previous year's (prior to restoration) taxable value and 100% of the mills levied. For new or replacement facilities, the property taxes are based upon the current year's taxable value and 50% of the mills levied. Applications are filed, reviewed, approved, and certificates are issued by the local unit of government. Certificates are also filed with the State Tax Commission. For more information, visit

Industrial Facilities Exemption (IFE) P.A. 198 of 1974, as amended

The Industrial Facilities Exemption PA 198 of 1974, as amended, provides a tax incentive to manufacturers to enable renovation and expansion of aging facilities, assist in the building of new facilities, and to promote the establishment of high tech facilities.  A district must be established prior to initiating a project so it is essential that the local assessor is counsulted before commencing a project.  An Industrial Facilities Exemption (IFE) certificate entitles the facility to exemption from ad valorem real and/or personal property taxes for a term of 1-12 years as determined by the local unit of government.  Abatements under PA 198 can significantly reduce property taxes on new investment for eligible firms.  Tax abatements are reviewed and approved by the local unit of government, but are also subject to review at the State Tax Commission (STC) and the Michigan Economic Development Corporation (MEDC). The STC  grants final approval and issuance of the exemption certificate. Exemptions are not effective until approved by the STC.

Tax impact involves Industrial Personal Property Exemption and IFE Treatment, Real and Non-Industrial Personal Property IFE Treatment, Rehabilitation of Real or Personal Property IFE Treatment, Speculative Building IFE Treatment, and Commercial Personal Property Tax Relief.

For more information, visit

Michigan Business One Stop

The online One Stop Business Resource Center is designed to help entrepreneurs to start and manage their Michigan business. Research and Plan areas include Tools You Can Use, Business Entity Search, Financing Your Business, Employer Resources, Taxes: General Information, Take the One Stop Tour, and Try the One Stop Simulator. Online business support also offers resource center information, a Customer Assistance Center, One Stop Tutorials, and License Search. For more information on the Michigan Business One Stop resource, call 1.877.766.1779 or visit

New Personal Property Tax Exemption

The New Personal Property Tax Exemption provides a property tax reduction to eligible businesses bringing new business or more business to the State of Michigan. Cities, villages, and townships that contain distressed areas (as defined under the Michigan State Housing Development Authority Act), and all county seats (as defined under the Neighborhood Enterprise Zone Act) are eligible to participate.  Detroit is designated as one of the eligible distressed communities.  Types of eligible businesses are those primarily engaged in manufacturing, mining, research and development, wholesale trade and office operations.  In order to qualify for the exemption, the qualified personal property must be placed in an “eligible district” after the local governmental unit adopts the resolution which provides for the exemption.  Also, the "eligible district" must be established before the exemption can be approved by the local governmental unit's resolution.  Completed applications are first submitted to the local governmental unit (i.e. city, township or village) for approval. If the local government approves the application, they then forward it to the State Tax Commission for review and approval. For more information, visit



TechTown is Detroit’s business innovation hub. As the city’s most established business accelerator and incubator, we provide a powerful connection to a broad network of resources, catalyzing entire communities of entrepreneurs best poised to energize the local economy. As Detroit reinvents itself, so TechTown works to reinvent Detroit.

TechTown is a 501(c)(3) nonprofit and is located within the Woodward Technology Corridor SmartZone. 

For more information, call TechTown at 313.879.5250 or visit:

Detroit Tecchnologyy Exchange

Partners TechTown, Invest Detroit, and Bizdom (an entrepreneurship accelerator that helps entrepreneurs launch, fund and grow innovative, tech-based startups in Detroit and Cleveland) have joined together to create the Detroit Technology Exchange, an initiative focused on the development of talent, technology, deal flow and cutting-edge startups.  The exchange is supported through a $1 million grant from the Michigan Strategic Fund and will be dispersed over a two-year period. The funding is aimed at leveraging existing economic development investments from organizations like the New Economy Initiative for Southeast Michigan to continue the development of Detroit's new economy. 

The Detroit Technology Exchange consists of four programs geared toward talent retention/attraction, exploiting disruptive technologies, creating robust deal flow, and supporting the early stage startups. The four programs include:

  • Integrated Ecosystem Services: This program will institute practices like monthly portfolio reviews to identify opportunities for collaboration and critical marketing and design assistance for companies. The idea is to fill the gaps in the city's entrepreneurial ecosystem and help participating firms attract investment.
  • Launch Detroit: A summer boot camp for aspiring entrepreneurs in college (both graduate and undergraduate) that want to launch tech startups. The 10-week program will provide a stipend to participants and work to connect them with the city's entrepreneurial ecosystem. It aims to encourage young talent interested in technology to either remain in Detroit or move to the region.
  • D-Venture: This executive-in-residence program will bring selected entrepreneurial-minded professionals to Detroit to create startups out of underutilized or underdeveloped intellectual property. Each participant develops a business plan, acts as CEO, raises seed capital, and receives an annualized salary for six months to one year.
  • Detroit Technology Exchange Fellows: This fellowship program will insert individuals into the Motor City's entrepreneurial service organizations and startups. The plan is to infuse high-quality, mid-level talent to Detroit's entrepreneurial ecosystem. It will provide six fellows with an annualized salary over two years.

For more information, visit

Venture Accelerator

The Labs Venture Accelerator isn’t for the faint-hearted. This intense accelerator will show you how to turn your early stage technology startup into a sustainable, market-ready business. You’ll gain a powerful connection to a broad network of resources and an ally who can help you navigate the path to commercialization, accelerating the process at every step. Upon graduation from the 12-week program, select startups may be invited to enter full-time incubation at TechTown.

For more information, visit

Start-up Incubation

The Labs Venture Accelerator isn’t for the faint-hearted. This intense accelerator will show you how to turn your early stage technology startup into a sustainable,  market-ready business. You’ll gain a powerful connection to a broad network of resources and an ally who can help you navigate the path to commercialization, accelerating the process at every step. Upon graduation from the 12-week program, select startups may be invited to enter full-time incubation at TechTown.

For more information, visit

Technology Commercialization

TechTown serves as an outsourced incubator, educational resource and critical path to technology commercialization for the region’s academic institutions and health care systems.

Technologies are evaluated on a case-by-case basis but possible options include:

  • TechTown evaluates and roadmaps the commercialization potential of university- or health care system-developed technologies
  • Researchers/faculty participate in TechTown’s Labs Venture Accelerator
  • Technologies assigned to startup teams enrolled in DTX Launch Detroit for customer/market validation
  • Technologies assigned to a DTX D-Venture executive in residence for leadership and customer/market validation

As a state-designated SmartZone, TechTown is uniquely able to connect technologies nearing commercial viability to early stage capital. These funds are designed to support this critical stage in the development lifecycle and prepare startups for follow-on private investment.

For more information, visit


Small Business Administration of Michigan (SBAM)

Since its founding on July 30, 1953, the U.S. Small Business Administration has helps Americans start, build and grow businesses.  SBA has delivered millions of loans, loan guarantees, contracts, counseling sessions and other forms of assistance to small businesses. SBA also provides assistances primarily through its four programmatic functions: Access to Capital (Business Financing), Entrepreneurial Development (Education, Information, Technical Assistance & Training), Government Contracting (Federal Procurement), and Advocacy (Voice for Small Business).

The Michigan District Office offers multiple resources.  For small business owners there are Size Protest Guidelines, Size Protests, Size Determinations, and Appeals, SBA Loans, Export Loan Programs, Explore Exporting, 6 Steps to Begin Exporting, 20 Questions Before Starting a Business, and A World of Opportunity.  From the office, there is a 2013 Financing Roundtables Schedule.  Resources in the area include; Resources in Your Area, Small Business Readiness Assessment Tool, Starting a Business In Michigan, Accountants/CPAs, Attorneys – links to State Bar of Michigan lawyer referral service,Michigan Small Business & Technology Development Center, Forming a Partnership, Forming a Corporation, LLC or LLP, Interactive Business Plan Template, Michigan Department of Environmental Quality, Environmental Protection Agency, Michigan Unemployment Insurance Agency, and SCORE Mentors Michigan Chapters. SBA Programs include SBA's Role in Lending; Find a Mentor or Counselor, and Federal Business Opportunities.  Links to these resources are found at

Decision Point

The Small Business Association of Michigan has compiled information business owners need to understand and comply with the Affordable Care Act.  SBAM will have the most up-to-date information on this changing law. 

Decision Point is a dynamic, fact-based tool that is backed by the credibility of SBAM's combined years of expertise in the small business health insurance arena.  The tool is free to SBAM members enrolled in an SBAM-sponsored health plan and $50 for members who are not. Non-members are charged $250 to join the association and access Decision Point. The online tool will provide:

  • Full-Time Equivalent Employee (FTE)* Calculator
  • Tax Credit Subsidy Calculator
  • Complete Timeline for ACA Implementation
  • Employer Mandate*s
  • Employee/Individual Mandate*s
  • Potential Penalties
  • Guide to Choosing Health Care for Your Business

Other business groups that offer online tools are the Detroit Regional Chamber and the Michigan Business and Professional Association.  For more information, visit:

General Small Business Loans 7(a)

The 7(a) Loan Program, SBA’s most common loan program, includes financial help for businesses with special requirements. To be eligible for assistance, businesses must:

  • Operate for profit
  • Be small, as defined by SBA
  • Be engaged in, or propose to do business in, the United States or its possessions
  • Have reasonable invested equity
  • Use alternative financial resources, including personal assets, before seeking financial assistance
  • Be able to demonstrate a need for the loan proceeds
  • Use the funds for a sound business purpose
  • Not be delinquent on any existing debt obligations to the U.S. government

The loan can be used to provide long-term working capital to use to pay operational expenses, accounts payable and/or to purchase inventory; for short-term working capital needs, including seasonal financing, contract performance, construction financing and exporting; for revolving funds based on the value of existing inventory and receivables, under special conditions; to purchase equipment, machinery, furniture, fixtures, supplies or materials; to purchase real estate, including land and buildings; to construct a new building or renovate an existing building; and to establish a new business or assist in the acquisition, operation or expansion of an existing business; and to refinance existing business debt, under certain conditions.

The maximum loan size is $5 million. Loan maturity is 7 years for working capital, 10 years for equipment and generally up to 25 years for real estate.  Short-term loans and revolving lines of credit are also available through the SBA to help small businesses meet their short-term and cyclical working capital needs.  There are also special types of 7(a) Loans, which include CAPLines, SBA Export Loan Programs, Advantage Loans, Community Advantage Approved Lenders, Rural Business Loans, and Patriot Express. 

For more information on the 7(a) Loan Program, visit or call the Michigan SBA office at 313.226.6075.

Real Estate and Equipment Loans: CDC/504 Loan Program

The CDC/504 Loan Program provides financing for major fixed assets such as equipment or real estate.  A 504 loan can be used for:

  • The purchase of land, including existing buildings
  • The purchase of improvements, including grading, street improvements, utilities, parking lots and landscaping
  • The construction of new facilities or modernizing, renovating or converting existing facilities
  • The purchase of long-term machinery and equipment

Maximum loan amounts are determined by how funds will be used based on which goal they support from the list below:

Job Creation - The maximum SBA debenture is $1.5 million for meeting the job creation criteria or a community development goal. Generally, businesses must create or retain one job for every $65,000 provided by the SBA, except for small manufacturers, which have a $100,000 job creation or retention goal.

Public Policy - The maximum SBA debenture is $2 million when meeting a public policy goal. Public policy goals include business district revitalization, expansion of exports, expansion of minority business development, rural development, increasing productivity and competitiveness, restructuring because of federally mandated standards or policies, changes necessitated by federal budget cutbacks, expansion of small business concerns owned and controlled by veterans (especially service-disabled veterans), and expansion of small business concerns owned and controlled by women.

Small Manufacturing - The maximum debenture for small manufacturers is $4 million. A small manufacturer is defined as a company that has its primary business classified in sector 31, 32, or 33 of the North American Industrial Classification System (NAICS) and all of its production facilities located in the United States. To qualify for a $4 million 504 loan, your business must meet the definition of a small manufacturer and accomplish one of the following: create or retain at least one job per $100,000 guaranteed by the SBA [Section 501(d)(1) of the Small Business Investment Act (SBI Act)] or improve the economy of the locality or achieve one or more public policy goals [sections 501(d)(2) or (3) of the SBI Act].

Generally, the project assets being financed are used as collateral. Personal guarantees of the principal owners are also required. Maturity terms of 10 and 20 years are available. Interest rates on 504 loans are pegged to an increment above the current market rate for 5-year and 10-year U.S. Treasury issues. Fees total approximately 3 percent of the debenture and may be financed with the loan.

For more information on the CDC/504 Loan Program, program eligibility, and the application process, visit or call the Michigan SBA office at 313.226.6075.   

Disaster Loan

SBA provides low-interest disaster loans to homeowners, renters, businesses of all sizes, and most private nonprofit organizations to repair or replace real estate, personal property, machinery and equipment, inventory and business assets that have been damaged or destroyed in a declared disaster.  You can apply online at, submit by mail, or apply in person at any Disaster Recovery Center and receive personal, one-on-one help from an SBA representative. For information or to find a location near you, please contact our Customer Service Center.  Call 1-800-659-2955 or the Michigan SBA office at 313.226.6075 or visit for more information.

Microloan Program

The Microloan program provides loans up to $50,000 to help small businesses and certain not-for-profit childcare centers start up and expand. The average microloan is about $13,000.  The U.S. Small Business Administration provides funds to specially designated intermediary lenders, which are nonprofit community-based organizations with experience in lending as well as management and technical assistance. These intermediaries administer the Microloan program for eligible borrowers.  Each intermediary lender has its own lending and credit requirements. Generally, intermediaries require some type of collateral as well as the personal guarantee of the business owner.

Microloans can be used for working capital, inventory or supplies, furniture or fixtures, and machinery or equipment.  Interest rates vary, depending on the intermediary lender and costs to the intermediary from the U.S. Treasury. Generally, these rates will be between 8 and 13 percent.  Proceeds from a microloan cannot be used to pay existing debts or to purchase real estate. For more information on this loan, visit or call the Michigan SBA office at 313.226.6075.       


University of Michigan Social Venture Fund (SVF)

The University of Michigan Social Venture Fund (SvF) invests in and supports the growth of innovative companies with a business model that addresses societal needs, which have been insufficiently addressed in traditional markets. Housed within the Zell Lurie Institute for Entrepreneurial Studies at the Ross School of Business, SvF directly connects businesses with one of the top rated MBA programs both for entrepreneurship and for social and environmental impact. SvF is uniquely positioned to collaborate with some of the country’s best graduate schools and has developed working partnerships in the areas of engineering, public health, natural resources, and environment, education and law. SvF has access to these resources as well as to the largest living alumni base with over 425,000 members that include entrepreneurs, gatekeepers, investors and policy makers around the world.  SvF can help further develop business models, organizational strength, and skill sets for investment and/or to ensure your success post-investment. SvF focuses on four investment areas: health, education, food systems & environment and urban revitalization. For more information, visit or email [email protected]


Urban Partnership Bank

The Urban Partnership Bank is a full-service, FDIC-insured, community development bank with $1.3 billion in assets and branch locations in Chicago, Cleveland, and Detroit. Founded in 2010, Urban Partnership Bank focuses on bringing responsible, affordable financial services to distressed urban communities that have been underserved by the banking industry.  The Urban Partnership Bank is a certified CDFI that by definition spurs economic growth and development by providing access to a wide range of responsible affordable financial services and products that are often unavailable to individuals, small businesses, nonprofits, foundations, and faith-based organizations in the community. 

The new Detroit branch offers a wide array of transactional banking and Treasury Management services, as well as loans for small businesses and the acquisition and renovation of commercial and residential real estate.  For more information contact Customer Service at 313.642.5200 or visit

Urban Partnership Bank offers a wide selection of accounts and services to Nonprofit and Faith Based Services.  These services include: Community Impact Deposits and Loans.  In addition the Urban Partnership Bank offers Business Deposit Accounts.  For more information on both these services, please visit


Venture Michigan Fund (VMF)

The Venture Michigan Fund (VMF) is a $95 million venture capital investment program designed to help Michigan create jobs and bring new industries to the state through the creation of a fund-of-funds that invests in private equity managers that invest primarily in Michigan-based early stage companies. A unique component of VMF is that the capital for the fund is strictly raised by outside investors, with the Michigan Department of Treasury offering to provide investors with up to $200 million of tax voucher certificates to offset any shortfall. VMF seeks to invest in mainly Michigan based companies as well and Michigan focused private equity funds. Credit Suisse Bank manages the fund, and strives to highlight the strong opportunity for private equity investment in Michigan given the state's strong capital and resource base, a vibrant infrastructure of government, industry and academics, and the increasing number of start-up companies that require financing for growth. Visit for more information.


Wayne State University 

Small Business Enterprises and Nonprofit Corporations Clinic

The Small Business Enterprises and Nonprofit Corporations Clinic is Wayne Law's transactional clinic. The Clinic represents both for-profit and nonprofit clients who cannot afford to pay for legal services offered by attorneys in the private bar. The Clinic will assist businesses within the City of Detroit and in the Detroit metropolitan area. Among the services the clinic offers are entity formation, contract review and preparation, review and drafting of commercial real estate documents, preparation of trademark and copyright applications, and preparation of tax-exempt applications for 501(c) (3) status. The Clinic represents clients only on business transactions and does not work on litigation matters.  Interested students should call 313.577.8859 or e-mail[email protected]. A Small Business and Non-profit Corporations Clinic fact sheet is located at For more information, visit

Wayne State University Library: Starting a New Business Guide

This online guide contains resources to assist entrepreneurs in Michigan with writing business plans, performing market research, and understanding the legal niceties. The guide includes: Resources (Federal, State of Michigan, City of Detroit, recommended websites, print material, and eBooks); Business Plan (importance of eBooks, and websites); and Formation (filing and registration, professional resources, and tax information).  Also included are Market and Industry Research (Industry Codes, US Government Data, State of Michigan Data Sources, trade associations and publications, journal and reference databases, business directories, recommended websites and databases); News and Events (news sources, events, learning, and business opportunities), Intellectual Property websites; and Finances. For more information on the Starting a New Business Guide, visit or call the Liaison Librarian at 313.577.8568. 



WomanOwned helps woman owned businesses profit, connect and grow through the largest online community dedicated entirely to small businesses. You can connect with small businesses and potential partners, market and advertise your services and skills with your profile, and get grant and funding information to grow your business. Get noticed online by adding your business to the public directory to gain exposure, connect with others, and create partnerships to help your business grow. Enhance your business profile by using your profile as a marketing tool to receive a higher search engine ranking, highlight your services and display your business certifications.

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ZipCap is the loyalty program that helps customers reward their favorite local businesses. ZipCap members (the customers that we call Ziplers™) earn their share of rewards, but the biggest one is that their favorite local business can now access funds needed to make their place even better. We turn customer loyalty into a line of credit. With access to affordable capital, these businesses can hire more people, make improvements (i.e. a new outdoor seating area) or expand their offering in other ways. Unfortunately, banks won't lend to most of these businesses and the other options for capital are too costly to consider. Access to a line of credit through ZipCap will make a huge difference. For more information visit or contact 858-779-4722 or [email protected]. [CH1]