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Michigan Rise Purchase Order (P.O.) Financing

MICHIGAN STATE UNIVERSITY RESEARCH

Foundation Rolling (Quarterly) Grants for StartupsSmall Business Grants
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Funding Amount

Average $230,000 per loan

Deadline

Rolling / Open

Grant Type

foundation

Overview

Michigan Rise Purchase Order (P.O.) Financing

Overview: Working capital financing for startups and high-tech companies to fulfill large orders, manage cash flow, and support sustainable business growth. Financing is tied directly to specific purchase orders from customers.

Geographic Scope: Michigan, US

Award Type: Non-dilutive debt financing (working capital loans)

Average Loan Amount: Approximately $230,000

Total Deployed: Nearly $5.8 million to date

Default Rate: Zero defaults to date

Program Age: Two years old as of March 2025

Eligibility:

  • Michigan-based startups and early-stage companies

  • Manufacturing and product-based businesses

  • Companies with confirmed purchase orders from customers

  • Technology companies at commercialization stage

    • What They Finance:

  • Inventory and materials needed to fulfill purchase orders

  • Manufacturing costs

  • Production expenses

  • Working capital for fulfilling customer orders

    • What They Don't Finance:

  • Arbitrary debt investments without corresponding purchase orders

  • Companies without confirmed customer orders

    • Key Benefits:

  • Lower risk financing tied to actual customer orders

  • No secondary market requirements for asset values

  • Flexible for novel/innovative products without established asset valuation

  • Helps preserve equity and startup ownership

  • Demonstrates market validation to future investors

  • Protects startups from overextending working capital

    • Why This Program Exists:

  • Addresses critical funding gap for innovative product manufacturers

  • Traditional lenders unwilling to finance early-stage manufacturers

  • Companies with novel products lack secondary market/asset history for traditional equipment financing

    • Success Stories Highlighted:

  • Civilized Cycles: Electric cargo bikes

  • Promethient: Temperature-controlled seating systems

  • Grounded RVs: Smart electric vans

    • Funder: Michigan State University Research Foundation (through Michigan Rise subsidiary)

    Contact Information:

  • East Lansing: 325 E. Grand River Ave. Suite 275, East Lansing, MI 48823

  • Grand Rapids: 109 Michigan St NW Suite 414, Grand Rapids, MI 49503

  • Detroit: 2050 15th St., Detroit, MI 48216

  • Website: msufoundation.org

    • Focus Areas & Funding Uses

    Fields of Work

    startupssmall-businesses

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