Small Business Detroit Loan Program
The Small Business Detroit Loan Program (DSMLP) was created through a partnership between the City of Detroit’s 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.
CEED is the leader in the proficiency of Small Business Loan; making microloans since its inception in 1984."CEED presents Detroit with the best opportunity for success with the microloan program,” said Marja Winters, ONCR Director. “During its 30 years, CEED has issued more than $5.5 million in loans. “The ONCR’s Advisory Board is confident in its decision to select CEED for Detroit because it brings more thantwo decades of experience in creating and issuing microloans,” Winters said. “We are pleased at CEED’s track record of success and commitment to supporting and assisting women and minority businesses.”
The Detroit Small Business Loan 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 Loan Program will offer microloans ranging from $5,000 to $50,000.
Required Orientation Schedule
Click Here to Download the Detroit Small Business Loan Application
Click Here to Download the Personal Financial Statement
Detroit Entrepreneur Roundtables
For additional information, contact the Detroit Small Business Loan Officer,