517-265-5141

5285 W. US 223, Adrian, MI 49221

 
 

Business in Lenawee County, Michigan

Lenawee County Business Revolving Loan Fund

The Lenawee County Business Revolving Loan Fund program has the funding necessary to assist businesses get started, grow and provide jobs in Lenawee County. Since 2009, the LCBRLF has made loans to businesses totaling over $1,800,000, with loans ranging from $70,000 to $400,000.  Loans are particularly tailored for businesses that, for whatever reason, have found it difficult to meet traditional lending institution requirements.

We provide loans for:

  • Equipment upgrades
  • Facility expansion
  • Commercial Real Estate
  • Business Acquisition
  • Inventory
  • Start-up Capital
  • Working Capital

Loan Terms & Rates

The LCBRLF interest rates are higher than traditional bank rates, reflecting the level of risk associated with projects that do not meet traditional bank financing criteria. Terms and amortizations are tied to the planned use of the funds.

Lenawee County Business Revolving Loan Fund Loan Requirements:

  • The LCBRLF cannot provide more than 50% of the funds required for the project.
  • At least 1 new full-time job has to be created for every $35,000 borrowed.
  • The project CANNOT be started before the LCBRLF loan has been approved by the State.  Thus it is imperative that the LEDC be contacted as early as possible.
  • Collateral will be sought and personal guarantees are required by all owners of 20% or more.

Contact Tim Robinson  at 517.265.5141 or tim@lenaweenow.org for more information about Lenawee County Business Revolving Loan Fund.