CEED® Lending
Call (248) 460-3973 to start an applicationThe CEED® Small Business Loan Program's (Formerly Microloan Program) CEED® Loans are available for start-up and business expansion equipment, inventory, supplies and some working capital. The CEED® Small Business Loan Program was created through a partnership between Oakland County, Center for Empowerment & Economic Development (CEED®) and the U.S. Small Business Administration.
Since Program Inception
151
142
$1,226,700
Jobs Retained
Jobs Created
In Investments
Applicant Requirements
- Business must be located in Oakland County
- Complete a loan application and submit supporting documentation (help can be provided)
- Have a business plan (for businesses less than 1 year old)
- A $75 non-refundable application fee is required
- If requesting more than $20,000 you will be required to self-certify that you cannot secure funding from traditional sources -a No Credit Elsewhere form can be provided for your convenience
- Be current on all federal debt including student loans, child support and taxes
For a full list view the CEED® Lending Checklist
Loan Terms
The loan may be extended for up to 6 years.
Contact one of our CEED® Lending Loan Officer at 734-677-1400 for more information.
Personal guarantees are required by all owners of 20% or more and any loans must be on a secured basis, with guarantees of collateral and/or possibly a co-signer.
Borrowers must meet with CEED® staff once a month or as deemed necessary.
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