ProsperUs Detroit Lending Program
Funding Amount
Up to $50,000
Deadline
Rolling / Open
Grant Type
foundation
Overview
ProsperUs Detroit Lending Program
Overview: The ProsperUs Detroit Lending program provides access to capital for start-up and existing small businesses that otherwise might not have access with traditional sources.
- Loan Amount: Up to $50,000
- Interest Rate: 7%
- Geographic Scope: Detroit, Hamtramck, and Highland Park
- Status: Active lending program
Key Details
- Graduates of ProsperUs Detroit's Training program
- Business must intend to locate in one of the five target neighborhoods (Detroit, Hamtramck, Highland Park, and Inkster)
- For-profit business registered with the state of Michigan (LARA) with federal EIN number
- Active system of bookkeeping
- Profit-Loss statements or detailed business plan
Eligibility
- Address: 950 Selden St, Suite 330, Detroit, MI 48201
- Phone: 313-586-0655
- Email: info@prosperusdetroit.org
Contact
Background
ProsperUs Detroit is a Certified CDFI (Community Development Financial Institution) dedicated to providing economic empowerment for entrepreneurs in underserved communities.How to Apply
Application Process
To apply for a ProsperUs Detroit microloan, you must meet the eligibility requirements:
1. Be a graduate of ProsperUs Detroit's Training program (or contact for alternative pathways)
2. Have a for-profit business registered with Michigan (LARA) and federal EIN
3. Maintain an active bookkeeping system
4. Provide Profit-Loss statements or a detailed business plan
If you need help meeting these requirements: Apply for the ProsperUs Pathways: Branded and Bankable program or contact ProsperUs directly for business services support.
If you have these documents: Contact ProsperUs directly to apply for microloans or other services.
- Business registration documents (Michigan LARA and Federal EIN)
- Active bookkeeping records
- Profit-Loss statements or detailed business plan
- Business plan with financial projections (preferred)
Required Materials
- Phone: 313-586-0655
- Email: info@prosperusdetroit.org
Contact for Application
Focus Areas & Funding Uses
Fields of Work
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