The Detroit Micro-Enterprise Fund supports small businesses in their initial stage of development with a minimum loan amount of $1,000, for example, an existing company can grow, or a start-up business can receive a needed boost to help it through a tough period.

Detroit-area entrepreneurs are starting hundreds of businesses, but they struggle when they can't obtain the necessary capital to provide their productions and services for a variety of reasons, many small businesses often can't rely on traditional sources of funding, such as banks and credit unions for business loans. The mission of the Detroit Micro-Enterprise Fund is to provide growth capital for small businesses. The goal of the Fund is to support emerging, start-up, and existing businesses, create jobs, and help sustain operations during difficult times, explore growth opportunities and expand hiring of workers. The fund also provides counseling mentor support.

Businesses must meet certain criteria. Loans are not given to repay old debt or refinance existing loans from other lenders. To be eligible for a microloan, a business at a minimum:

- Must be based in Detroit, Hamtramck or Highland Park
- Must be private for-profit
- Must be unable to obtain capital from traditional sources, such as banks and credit unions

A microloan is often just what is needed to fill the financing gap. Apply for a micro-loan now!

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Detroit Micro-Enterprise Fund
440 Burroughs, #123
Detroit, MI 48202
(313) 263-4032