CEED® Small Business Loan Program
Oakland County, MichiganAdvantage OaklandBusinessCEED® Small Business Loan Program
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Financial Services 2100 Pontiac Lake Road Building 41W Waterford, MI 48328 (248) 858-0765 Monday - Friday 8:30 AM - 5:00 PM

CEED® Small Business Loan Program

​​​​​​​Formerly Microloan Program

Small Business Loan is available for start-up and expansion of a business. Small Business Loan may be used for equipment, inventory, supplies and some working capital.

CEED® Oakland County Small Business Loan Program Orientation

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 - Collateral will be sought and personal guarantees are required by all owners of 20% or more.
  • Business assistance - Borrowers must meet with CEED staff once a month or as deemed necessary

CEED® Small Business Loan Program FAQ​

CEED® Small Business Loan Program Application Assistance
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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.

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