OAKLAND COUNTY BUSINESSES ELIGIBLE FOR $50,000-$200,000
$4M IN FUNDING AVAILABLE TO SMALL, MINORITY, AND WOMEN-OWNED BUSINESSES
OAKLAND COUNTY BUSINESSES ELIGIBLE FOR $50,000-$200,000
PONTIAC, MICH.—CEED Lending, a division of the Great Lakes Women’s Business Council, has $4M available to make loans ranging from $50,000 to $200,000 to for-profit small businesses that have been affected by COVID-19. The funding is focused primarily for small businesses owned by minorities, women, or located in an economically, disadvantaged area. However, all Oakland County small businesses are welcome to apply – especially businesses located in Auburn Hills, Farmington Hills, Ferndale, Hazel Park, Madison Heights, Oak Park, Pontiac, Royal Oak, Waterford, and Southfield.
Loan proceeds can be used to finance the acquisition and modernization of commercial real estate, machinery and equipment, facility renovations and working capital.
Belinda Turner-DuBois, manager of CEED Lending, says, “The Oakland County Revolving Loan Fund can help historically underserved small businesses reach their financial goals. CEED Lending is also committed to supporting businesses in economically disadvantaged areas, so we encourage small businesses to reach out for these OCRLF dollars and learn about the other lending programs we offer throughout Michigan.”
Two success stories demonstrate how CEED Lending is integral to building businesses. Kimberly Craig’s Musashi Weeder garden tool was among five products selected by Lowe’s in the national “Making It… With Lowe’s” product-pitching competition. She beat out 1,600 contestants vying as small, diverse entrepreneurs for shelf space in Lowe’s stores and on their website. That meant finding the funding to stock those shelves with inventory. When the purchase order from Lowe’s didn’t open doors to needed bank loans, Craig reached out to CEED.
“Belinda and the CEED program were my heroes,” Craig says. “They really came through for me.” Within weeks of applying, she had the funds in hand for her product shipment to just meet the December 2022 delivery deadline and she’s now making plans to sell on HSN.
Karen Akouri, the owner of Drench Dressing, successfully launched her all-natural salad dressing and marinade line which is sold in major stores like Meijer. She needed funds for equipment to diversify product packaging. She says her CEED loan addressed this challenge to growth, and that her experience in the program has been “wonderful. It’s given me the cash flow that I needed for my business to grow.”
CEED Lending, an initiative of the Great Lakes Women’s Business Council, is an SBA microlender and a Community Development Financial Institution. It provides small business owners access to capital when they are unable to secure funding from traditional lending sources. CEED Lending has disbursed more than $10.1M in loans to small business owners and created more than 2,000 jobs. Contact CEED Lending at (248) 238-7680 or at www.ceedlending.org.
Great Lakes WBC provides access to capital, corporate procurement opportunities, certification for women-owned business enterprises, and small business educational support. Great Lakes WBC represents more than 1,400 women-owned enterprises that are certified by the Women’s Business Enterprise National Council. These businesses generate approximately $8.6B in annual revenue.
###
CEED Lending, A Division of Great Lakes Women’s Business Council
Contacts: Xana Williams 248.238.7680 Belinda Turner-DuBois 248 460-3973
Xana Williams, RLF Loan Specialist
Direct 734.838.3862 | Mobile 248.238.7680
FOR IMMEDIATE RELEASE
33109 Schoolcraft Road, Livonia, MI 48150 ∙ Phone 734.677.1400 ∙ Fax: 734-519-1599
CEEDLending.org Greatlakeswbc.org
