Resources for Your Business Needs
Discover on-demand resources for your business.
Funding
This page offers entrepreneurs resources to find lenders, crowdfunding sources, and businesses that assist with funding to help you get the capital you need to create and maintain a successful business. You can decide which one is better for you, and you can also apply to more than one to start or grow your business.
LENDERS
Lending program: The ProsperUs Detroit Lending program provides access to capital for start-up and existing small businesses that otherwise might not have access with traditional sources. Graduates of ProsperUs Detroit’s Training program, who intend to locate their business in one of our five target neighborhoods, are eligible to apply for small business loans. ProsperUs Detroit provides financing up to $50,000 in Detroit, Hamtramck, and Highland Park with a 7% interest rate.
Michigan Women’s Foundation: With more than 30 years of high impact work, Michigan Women’s Foundation is devoted to fostering economic empowerment for Michigan’s women and girls through philanthropy and investment.
Detroit Economic Growth Corporation: helps with all aspects of the city of Detroit: through connecting people to opportunities and resources in the city like business planning, space, and money matching (through MotorCity Match) to aid small businesses in Detroit. DEGC offers two programs:
- Motor City Match: This program connects new and expanding businesses with Detroit’s quality real estate opportunities, providing them with funding and tools to fuel the city’s entrepreneurial revolution. Awards $500,00 every quarter.
- Motor City Re-Store: Each quarter, Motor City Re-Store awards up to $500,000 in competitive matching grants to improve storefronts and upgrade commercial corridors in Detroit’s neighborhoods.
Invest Detroit: Invest Detroit selectively co-writes large loans that are managed for for-profit and nonprofit targeted funds to support economic and community improvement in underserved areas of Detroit.
Opportunity Resource Fund: The Opportunity Resource Fund is a statewide nonprofit loan fund to further develop the business communities. For small businesses, the OppFund provides loans for the start up or expansion of a small business’ pre-development costs, acquisition, construction, or renovation of a building, purchase of land, inventory and working capital for a planned business expansion.
Detroit Development Fund: The Detroit Development Fund is a small business lender, giving grants in the form of a loan. They provide term loans and lines of credit for small business owners, among other loans.
CROWD FUNDING
Ioby: Ioby utilizes a crowd-funding platform to connect community centered business owners with funding and support. These businesses are typically used to improve all aspects of neighborhoods.
Kiva: Kiva is housed in Build, community members choose to loan funds to businesses they feel connected with. Overtime, these crowdfunded loans get repaid to the community. Kiva loans are 0% interest and ProsperUs is a trustee and can match earnings.
Patronicity: Patronicity is a state funded civic crowdfunding and crowd granting platform.
ASSISTANCE WITH FUNDING
Goldman Sachs 10,000 Small Businesses: Goldman Sachs 10,000 Small Businesses is a program that offers funding if accepted into the program. They coach entrepreneurs in topics such as negotiation, marketing, and employee management and support to develop a strategic growth plan. This program requires an application.
Great Lakes Women’s Business Council: The Great Lakes Women’s Business Council is a nonprofit that supports women and minority small business owners by facilitating access to capital, corporate procurement opportunities, and certification for these entrepreneurs.
Michigan Women’s Foundation: The Michigan Women’s Foundation provides entrepreneurial training, capital, and access to a strong entrepreneurial ecosystem for women who are starting and growing businesses, eventually empowering them to gain traditional funding. They provide technical assistance, business consulting, capital, and other partner organizations to help grow businesses.
Build Institute: We empower people to launch ideas and grow businesses by providing access to education, resources, and a supportive engaged community.
Techtown Office Hours: Techtown Detroit offers open office hours to help assist in a variety of areas, including assistance with funding.
