Ready to Expand?

Development Fund

Interested in Gap financing? Looking to grow your product line? Find out if this fund is a fit for your company.

Overview

  • 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

Terms

  • Funding Range: $25,000-$250,000
  • Terms: 1-5 years
  • Interest Rate: Dependent on risk.
  • Application Fee: $250.00

Process

  • 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)

Requirements

  • Project must retain or create jobs in the region

 

 

For Details, Contact

Laura Galbraith
laura@venturenorthfunding.org
(231) 995-7110

venturenorthfunding.org

Formerly the Traverse Bay Economic Development Corporation and Chamber Foundation