Agribusiness Financing Programs
Link: Agribusiness Financing Programs Website
|The Michigan Department of Agriculture & Rural Development (MDARD), in partnership with the Michigan Economic Development Corporation (MEDC), offers multiple programs to help support the financing and growth is an international leader in the agriculture industry, in the State of Michigan. Michigan is an international leader in the agriculture industry, and MDARD and MEDC are committed to supporting the continued growth of the industry within the state. A critical component for success is ensuring that businesses can access the capital they need to grow.
Capital Access Program
Link: Capital Access Program Webpage
|The Capital Access Program uses small amounts of public recourse to generate private lender financing, providing small businesses in Michigan access to capital that might not otherwise be available. Similar to a loan loss reserve fund, the bank, the borrower, and the MEDC pay a small premium into a reserve that makes it possible for the borrower to receive financing.
Capital Conduit Program
Link: Capital Conduit Program Webpage
|The Capital Conduit Program is a vehicle used to support both small business and real estate capital market partners. Developed as a loan enhancement program, it provides low-cost capital to a lender or fund manager in exchange for strong private investment participation, a commitment to 100% Michigan Transactions, and other asset class specific policy goals.
Collateral Support Program
Link: Collateral Support Program
|The Collateral Support Program is funded by federal dollars provided under the State Small Business Credit Initiative (SSBCI) Act of 2010 and is designed to assist lenders and borrowers in financing expansion or diversification projects.
Community Development Block Grant Revolving Loan Fund
Link: Community Development Block Grant Revolving Loan Fund (PDF)
|The Community Development Block Grant (CDBG) Revolving Loan Fund Program (RLF) was established in the early 1980s to distribute CDBG funds to eligible Units of General Loan Government (UGLG) to carry out state approved business loans that met CDBG job creation objectives, primarily benefitting low and moderate income individuals. The program provides loans, loan guarantees, collateral enhancements, and provides loans, loan guarantees, collateral enhancements, and provides capital in other allowable mechanisms through either existing Revolving Loan Funds based within a specific UGLG or through newly established Regional Revolving Loan Funds.
Link: Energy Loans Webpage
|Small businesses looking for support for building energy retrofits, process improvements, retooling, and renewable energy projects may qualify for an Energy-Efficient and Renewable Energy (EERE) loan offered through the Michigan Energy Office.
Loan Participation Program
Link: Loan Participation Program Webpage
|The Loan Participation Program is funded by federal dollars provided under the State Small Business Credit Initiative (SSBCI) Act of 2010 and is designed to assist lenders and borrowers in financing expansion or diversification projects.
The Loan Participation Program seeks to enable companies to acquire the necessary financing that might otherwise be unavailable due to a cash flow shortage according to the lender's analysis. The program will participate on loans with lenders to pursue this goal for approved projects.
Michigan Crowdfunding Legislation
Link: Michigan Crowdfunding Legislation Webpage
|The Michigan Crowdfunding legislation, Michigan Invests Locally Exemption (MILE), allows small businesses to raise capital by reaching out to Michigan residents to invest in their companies.
Michigan Economic Development Corporation (MEDC)
Link: Michigan Economic Development Corporation Website
|The Michigan Economic Development Corporation (MEDC) offers one-stop business assistance. Our business development managers work with consultants, utilities, associations, and local economic development agencies to best match businesses’ needs with Michigan’s opportunities.
Michigan Economic Development Corporation (MEDC) Funding Options
Link: Michigan Economic Development Corporation (MEDC) Funding Options Webpage
|Michigan Economic Development Corporation works to increase the availability of capital for companies in Michigan at every state of company development.