Small Business Revolving Loan Fund

Good Boy clothing store, Flint

How to Begin

Please contact Tracy Joseph, Business Finance Manager, at (810) 600-1406 or email tjoseph@flintandgenesee.org.

Loan Requirements & Limitations

  • Loan amount – up to $100,000
  • Interest rate – Prime plus 2% to 3%
  • Term – up to 10 years
  • Amortization – up to 25 years
  • The business must create new jobs
  • Owner must have at least 10% equity in the deal

Application Process & Requirements

  • Hold face-to-face meeting with Tracy Joseph, Business Finance Manager, to review business plan, project plan, and financial information
  • Submit formal loan application packet and required ancillary information
  • Application packet is reviewed by loan committee
  • Application is submitted to EDC Board for final approval