Development Financing Resources

Midtown Detroit, Inc. works with developers and small business owners from the beginning stages of their investment through execution. Below is a list of financial assistance products that are most commonly used in the projects we partner on.

Detroit Development Fund

Late Stage Pre-Development Loans
$50,000 - $200,000

Detroit Development will make 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 are intended to fill the gap between early "soft" stages of predevelopment (i.e., concept development expenses, permit expenses, infrastructure needs, etc.) and the point where a project can qualify for construction financing.

More info HERE

Small Business Loans
$50,000 - $200,000

The purpose of the DCLF and Detroit Development's small business lending program has been 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.

More info HERE

SmartBuildings Loans
$50,000 - $150,000

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. 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.

More info HERE

Invest Detroit

Predevelopment Loan Fund
$50,000 - $250,000

Predevelopment financing assists both individual developers and community organizations by providing funding for costs incurred in the early stages of a project, such as environmental studies or appraisals that facilitate the project's pursuit of traditional financing.

More info HERE

Woodward Corridor Investment Fund

Woodward Corridor Investment Fund
$500,000 - $5,000,000

The Woodward Corridor Investment Fund is a loan fund created by bank and social investors to bring financing to developers interested in revitalizing the Woodward Corridor. With this combination of capital, the Fund is able to offer long-term, fixed rate loans with competitive terms for multi-family and mixed use properties.

More info HERE

Michigan State Housing Development Authority (MSHDA)

The Michigan Mezzanine Investment Fund

The fund is designed to make mezzanine debt loans that fill the financing gap between developer equity and traditional bank financing. The fund may make investments, directly or indirectly, in mixed-use, multi-family housing projects in which at least 50% of the square footage of floor space is used primarily for residential purposes.

More info HERE

Develop Michigan

Mezzanine Capital
$3,000,000 - $10,000,000

Mezzanine Capital is a critical financing source for Develop Michigan projects. DMI will underwrite and provide shorter-term mezzanine capital for higher-risk tranches of a real estate transaction's capital sources.

More info HERE

Michigan Historic Preservation Network

MHPN Loan Program
$1,000 - $15,000

The primary aim of this program is to stabilize historic properties that are threatened by one or more failures of major building systems. Further, this program is designed to align with, and support, other more comprehensive efforts to rehabilitate the building.

More info HERE