ProsperUs Detroit Lending Program

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.

Key Details

• Loan Amount: Up to $50,000
• Interest Rate: 7%
• Geographic Scope: Detroit, Hamtramck, and Highland Park
• Status: Active lending program

Eligibility

• 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

Contact

• Address: 950 Selden St, Suite 330, Detroit, MI 48201
• Phone: 313-586-0655
• Email: info@prosperusdetroit.org

Background

ProsperUs Detroit is a Certified CDFI (Community Development Financial Institution) dedicated to providing economic empowerment for entrepreneurs in underserved communities.

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.

Required Materials

• Business registration documents (Michigan LARA and Federal EIN)
• Active bookkeeping records
• Profit-Loss statements or detailed business plan
• Business plan with financial projections (preferred)

Contact for Application

• Phone: 313-586-0655
• Email: info@prosperusdetroit.org