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 a loan committee
- Application is submitted to EDC Board (external link) for final approval