We are able to customize our signature loan program to meet your specific business needs.
The Michigan Business Development Program is a new incentive program available from the State of Michigan. The program is designed to provide grants, loans or other economic assistance to businesses for highly competitive projects in Michigan that create jobs and/or provide investment.
The Michigan Business Development Program (MBDP) is available to eligible businesses that create qualified new jobs and/or make qualified new investment in Michigan. The qualified new jobs must be held by Michigan residents and be in addition to those maintained in Michigan prior to the project. Eligible investment includes investment made by the business in Michigan in support of the project and approved by the State. Preference may be given to businesses in need of additional assistance for deal closing and second stage company gap financing.
Any business seeking to qualify for MBDP support on the basis of job creation must create a minimum of 50 qualified new jobs. If a project is in a rural county (a county with a population of 90,000 or less) or qualifies as a high-technology activity, in which case the business must create a minimum of 25 qualified new jobs.
The CEED MicroLoan Program assists women, low income individuals, minority entrepreneurs, and other small businesses which need small amounts of financial assistance. Under this program, SBA makes direct and guaranteed loans to Intermediaries such as CEED, who use the proceeds to make loans to eligible borrowers. CEED lends up to maximum $50,000.
Looking for Start-up or Business Expansion Financing?
Hillsdale County Economic Development Partnership is here to help you find the appropriate financing for your venture. Here is some information on just a few of th available financing options: Please Contact Us for more!