Microloans
Your Path to Financial Assistance
Capital Access for Livingston County Businesses
Capital Access is made up of several programs that can help small business throughout Michigan receive loans from banks and lending institutions to help their businesses grow and succeed. Our Livingston County team can assist you with making connections to local financial institutions.
Lake Trust Credit Union Microloan
- Terms: Variable
- Funding Range: Up to $50,000
- Restrictions: Business expenses that are under $50,000. The lending process is quicker than a traditional business loan timeframe.
Huntington Lift Local Business
- Terms: Variable
- Funding Range: $1,000 – $150,000
- Restrictions: Focus is on women, veterans, and racially and ethnically diverse business owners. Zero origination fees, lower credit scores required.
Kiva
- Terms: 0% Interest
- Funding Range: Up to $15,000
- Restrictions: Start the pre-qualification process online.
Lean/Green Initiative
- Terms: Special assessment program for energy efficiency or energy generation investments.
- Funding Range: $10,000 and $350,000
- Restrictions: The program is focused on energy efficiency and energy generation systems for commercial property.
Small Business Administration
- Terms: Variable, depending on the institution that provides the credit.
- Funding Range: Up to $50,000. The average loan is $13,000.
- Restrictions: The microloans are provided by other credit entities (not the SBA directly) – the institutions have their own credit requirements and often require a personal guaranty and collateral.
SBA also offers a Lender Match program to help you connect to potential lenders offering SBA-backed funding.
Ceed Lending
- Terms: Must fully amortize; usually 5 years with interest rate fixed at closing.
- Funding Range: Up to $50,000
- Restrictions: For-profit companies only; cannot be used for real estate investment; must be current on all federal obligations.
Michigan Saves
- Terms: 6.5%-7.4%
- Funding Range: Minimum of $5,000
- Restrictions: Michigan Saves offers financing for projects that will provide energy efficiency or renewable energy installation projects on commercial buildings.
Michigan Women Forward Microloan
- Terms: 8%, up to 36 months
- Funding Range: $2,500 – $50,000
- Restrictions: Loans to any women-owned/led business in any sector who is attempting to start or grow their business throughout the state of Michigan.
MSU Federal Credit Union
- Terms: 7%, up to 3 years
- Funding Ranging: Up to $15,000
- Restrictions: Companies must be in areas of MI served by MSUFCU branches; loans can be used for equipment, inventory, and construction
Michigan Saves
- Terms: Starting at prime +1.5%
- Funding Range: Starting at $50,000
- Restrictions: Lines of credit, equipment, and real estate
Michigan Good Food Fund
- Terms: Starting at 5%
- Funding Range: Starting at $2,500
- Restrictions: Companies must be food enterprises that are working to increase access to affordable, healthy food in low-income and underserved communities in Michigan.
Opportunity Resource Fund
- Terms: Competitive; Fixed and Variable
- Funding Range: Up to $250,000
- Restrictions: Startup, inventory, working capital, pre-development costs, build-out
We're Here to Help YOUR Business.
Schedule a Meeting with our Team!
We are here to discuss your needs and provide tailored solutions to help you achieve your business objectives. If you’re unsure of next steps, simply reach out to us!
To set up a consultation, contact a member of our team. We will arrange a convenient time to meet and explore how we can support your business. We look forward to partnering with you and helping your business succeed in Livingston County!
