- Companies that have exhibited high growth and profitability potential
- Companies located in Antrim, Benzie, Grand Traverse, Kalkaska, or Leelanau counties
- Eligible Users: Gap Financing, Market Diversification, Product Line Expansion, Production Capacity Growth, Short Term Bridge Financing, Collateral Support.
- Not intended for: Retail, Land, Building, Start-ups, pay outstanding debt
- Funding Range: $25,000-$250,000
- Terms: 1-5 years
- Interest Rate: Dependent on risk.
- Closing Fee: $250.00 or 1% of loan amount, whichever is greater.
- Underwriting: Assess and score application based on: business plan, financial history and job creation.
- Loan review committee makes the final recommendation. (Meets on a weekly basis)
- Project must retain or create jobs in the region
For Details, Contact
Formerly the Traverse Bay Economic Development Corporation and Chamber Foundation