The Detroit Urban Retail Loan Fund will pump $5 million dollars into retail business development to help aspiring and existing retailers keep making dough in the D.
The money comes from the
Michigan Economic Development Corporation and the
Detroit Investment Fund, a Detroit Renaissance affiliate. The money will be awarded to businesses in the form of low-interest loans. The loans range in size from $50,000 to $500,000. However, most of the loans will be in the $150,000 to $300,000 range.
Eligible businesses will be in the downtown, Midtown, Riverfront, Eastern Market and Corktown neighborhoods. They will include boutique grocery stores, restaurants, neighborhood services and small commercial businesses.
For information, contact Karen Harris at
[email protected] or at (313) 259-6368. A proposal can also be sent to the Detroit Investment Fund, Attention: URLF Program, 600 Renaissance Center, Suite 1710, Detroit, MI 48243.
Source: Detroit Renaissance
Writer: Jon Zemke
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.