Small Business Fund

Supported by an investment from Goldman Sachs and the W. K. Kellogg Foundation, Invest Detroit’s Small Business Fund promotes economic development through financing for commercial, industrial and retail businesses in Southeast Michigan.

Invest Detroit is a proud partner of Goldman Sachs 10,000 Small Businesses. The program is designed to help local small business owners create jobs and economic opportunity through greater access to business education, financial capital and business support services. To learn more about the education program in Detroit, visit http://10ksbdetroit.com/

Target Area

Southeast Michigan

Eligible Uses

  • Purchase of inventory and equipment
  • Owner occupied property renovations
  • Project financing
  • Tenant improvements

General Loan Criteria

  • Business in operation for at least two years
  • Revenues above $150,000 in the most recent fiscal year
  • A minimum of two employees
  • Potential and desire to grow revenues and create jobs in the community

Loan Size

  • $50,000 to $750,000 [Preferred range $175,000 to $275,000]

Loan Terms

  • Clear exit strategy for the Fund with expected repayment within 5-7 years
  • Multiple advance term loans with flexible structures and repayment, e.g., unequal payments to allow project to stabilize
  • Interest rates will be fixed and upfront loan fee will be charged

Collateral Requirements

  • All business assets
  • Meaningful equity

Contact Information

Interested applicants are encouraged to contact Derek Edwards to determine eligibility prior to submitting materials.

Derek Edwards
Invest Detroit
600 Renaissance Center, Suite 1710
Detroit, MI 48243-1802
derek.edwards@investdetroit.com
p: 313-259-6368
f: 313-259-6393