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Amanah Financing: Islamic Compliant Finance Program

This opportunity is made possible through our partnership with the City of Hamtramck and support from the National League of Cities.

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WHO SHOULD APPLY

We know access to the right kind of capital matters. With Amanah Financing, ProsperUs offers a no interest, Islamic-compliant option so Hamtramck entrepreneurs can have the capital needed to move their businesses forward.

  • Loan Amount: up to $5,000, no interest or fees.
  • Location: You must reside in Hamtramck, or have a business operating in Hamtramck.
  • Requirements: Must be a for-profit business registered with the state of Michigan (LARA) and have an Employer Identification Number (EIN). Start-up and existing businesses are encouraged to apply.
  • Applicants: Our capital is designed to support entrepreneurs who lack access to traditional financing, and we prioritize people from low-income communities who identify as Black, indigenous, and/or other people of color including immigrants. Open to all who qualify, whatever your faith may be. Contact us if you need support with your application.

WHAT TO EXPECT

We support you in securing funding for your business. Our team partners with you throughout the application process to make sure you are learning while growing your business. We are available for questions or concerns throughout the process and beyond.

  • Step 1: Complete the short application. We’ll email a confirmation and let you know if anything’s missing.
  • Step 2: We will schedule a short conversation to learn about your business, answer questions, and make sure Amanah Finance fits your goals.
  • Step 3: Once your application is complete, you’ll receive a decision in about 3 business days. We will run a soft credit check that doesn’t affect your score.
    • Approved? We will schedule time to sign closing documents and disburse funds by ACH.
    • Not approved yet? We will explain why and offer coaching so you can strengthen your application and re-apply.

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Amanah Financing Application

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Complete this form to get started with Amanah Financing with ProsperUs Detroit! 

To be considered for financing you will need:

  • A for-profit business located in Hamtramck OR be a resident in Hamtramck;
  • Registered with the state of Michigan (LARA) and a federal EIN number.

Thank you for your interest in partnering with ProsperUs to catalyze your business growth, we look forward to reviewing your application!


This opportunity is made possible through our partnership with the City of Hamtramck and support from the National League of Cities.


Entrepreneur Contact Information













Only numbers, 9 digits

Only numbers, 9 digits

Home or Residential Address






Business Address

If you operate your business from your home, please use your home / residential address.








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Please enter the full URL for your business Facebook page.

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Demographic Information

ProsperUs Detroit greatly values you sharing any personal demographic information. Unless specified by you, your information will remain private to ProsperUs Detroit's database and shared only with necessary funding partners. Knowing more about the people we serve is pivotal in providing meaningful and intentional access to opportunities for entrepreneurs and their businesses.








ProsperUs does not discriminate justice involved individuals. This information is important to our team as we create and share resources with entrepreneurs with these experiences.

This information is used by ProsperUs Detroit to ensure that our resources are inclusive and accessible to everyone.

We ask to understand who we’re reaching and to ensure the program is meeting its goal of reducing barriers for those who cannot access interest-bearing loans.


Business Information

To access Amanah Financing, you are required to register your business with the State of Michigan's Department of Licensing and Regulatory Affairs (LARA) or a similar organization and apply for an Employer Identification Number (EIN) with the Internal Revenue Service (IRS). Please ensure you complete that process and utilize the support of a trainer or coach if needed.


To look up your entity with LARA, follow this link.









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FINANCIAL OVERVIEW


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Ensure your Uses of Financing does not exceed the Financing Amount.

Financing Repayment


Personal Financial Statement

The personal financial statement helps us understand your current financial situation so we can better support you in achieving your business goals. It provides a snapshot of your financial health, which allows us to tailor our services and identify the best options for your success. All information you provide is kept confidential and will be used solely to assist in your financial journey with ProsperUs Detroit.

Additional Employment


Household Information


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*Income entered may be considered as a basis for repayment. Please ensure you will be able to share bank statements, W2s, and/or tax returns to reflect this income.

Monthly Expenses

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Assets

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Personal Financial Statement
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Personal Financial Situation



Disclosures

By signing below, you certify that the information provided in this statement is accurate and complete to the best of your knowledge. As long as any amount is owed to ProsperUs Detroit Micro Lending, you agree to promptly notify us in writing of any significant changes to your financial situation. Upon request, you also agree to provide an updated personal financial statement.

The undersigned confirm that they have carefully reviewed the information provided and certify that it is true and correct in all respects.


Authorization and Release of Information

Please review the following statements and provide your authorization below:

I authorize ProsperUs Detroit to take the following actions to support my financial improvement and/or business loan application:
  • Discuss my personal and financial situation as needed;
  • Pull credit reports from TransUnion, Equifax, and Experian now and periodically to verify information, provide financial coaching, and track outcomes;
  • Share my credit, financial, employment, and other relevant information with financial institutions when necessary for Amanah Financing approval;
  • Verify bank accounts, employment, IRS filings, and household income to complete my loan application.
I understand that all personal and financial information will remain confidential and only shared with those directly involved in supporting my financial goals or loan process.

By applying for financing, I confirm the accuracy of the information provided. I authorize ProsperUs Detroit to obtain, review, and retain my credit information, whether or not my financing is approved. This does not obligate ProsperUs Detroit to approve the financing.

By signing below, I acknowledge that I have read and understood this authorization.


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CONTACT US

950 Selden St, Suite 330
Detroit, MI 48201
313-586-0655
info@prosperusdetroit.org

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