517-265-5141

5285 W. US 223, Adrian, MI 49221

 
 

Business in Lenawee County, Michigan

Center for Empowerment and Economic Development

The CEED MicroLoan Program assists women, low income individuals, minority entrepreneurs, and other small businesses which need small amounts of financial assistance. Under this program, SBA makes direct and guaranteed loans to Intermediaries such as CEED, who use the proceeds to make loans to eligible borrowers. CEED lends up to maximum $50,000.

Applicants to the CEED MicroLoan Program must meet the following requirements:

  • Business must be in Oakland, Livingston, Macomb, Lenawee, Jackson, Hillsdale, Monroe, Washtenaw or Wayne County.
  • Complete loan package and supporting documentation.
  • Be denied by 2 financial institutions, and provide copies of the denial letter, if the loan request is over $20,000. CEED Loans are made on a secured-basis with personal guarantees, sometimes including collateral and/or a cosigner. Loans are made at an interest rate of prime plus four percent.
  • The rate is fixed at the time of the loan closing. The borrower will pay loan closing costs and filing fees. Credit Requirements are determined on an individual basis.

Contact Tim Robinson at 517-265-5141 or tim@lenaweenow.org for more information about Center for Empowerment and Economic Development MicroLoan Program.