CEED® Lending

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CEED® Lending Small Business Loan Progra​m​

(Formerly Microloan Program) CEED® Loans are available for start-up and business expansion equipment, inventory, supplies and some working capital. The CEED® Small Business Loan Program was created through a partnership between Oakland County, Center for Empowerment & Economic Development (CEED®) and the U.S. Small Business Administration.​

Applicant Requirements

  • Business must be located in Oakland County
  • Complete a loan application and submit supporting documentation (help can be provided)
  • Have a business plan (for businesses less than 3 years old)
  • A $75 non-refundable application fee is required
  • Demonstrate the inability to obtain credit (financing) from a traditional lending source. Two letters of denial from banks are required, if requesting more than $20,000
  • Be current on all federal debt including student loans, child support and taxes

Loan Terms

Length - The loan may be extended for up to five years
Interest - Fixed interest rate of prime plus 4% (not less than 5%) Current rate is 5%.
Collateral - Personal guarantees are required by all owners of 20% or more and any loans must be on a secured basis, with guarantees of collateral and/or possibly a co-signer.
Business assistance - Borrowers must meet with CEED staff once a month or as deemed necessary​