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Click Here to Download the Small Business Detroit MicroLoan Application

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Small Business Detroit MicroLoan Program

The Small Business Detroit MicroLoan Program  (SBDMP)  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.

May 05, 2006 the city of  Detroit announced the Small Business Detroit MicroLoan Program will be handled by the Mayor’s Office of Neighborhood Commercial Revitalization (ONCR). Upon meeing the criteria and requirements  the Center for Empowerment and Economic Development (CEED) was selected to administer Detroit’s MicroLoan Program.

CEED is the leader in the proficiency of microloans; 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 25 years, CEED has issued more than 350 microloans totaling $3 million. “The ONCR’s Advisory Board is confident in its decision to select CEED for Detroit because it brings more than two 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 Small Business Detroit MicroLoan 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 MicroLoan Program will offer microloans ranging from $5,000 to $35,000.

For additional information, contact the Small Business Detroit MicroLoan office at 313·255·1020.