Small Business LIFT Loan

Loan amounts up to $75,000. We provide access to capital and counseling for small.

Businesses must be in one of the following Michigan counties: Macomb, Oakland, or Wayne.

Get started

• Use the Get Started button to see if you qualify for a loan.
• CEED Lending is available to help through our application process contact us at info@miceed.org

Loan Checklist

Application loan checklist for Microloan/LIFT loan

Please provide the following to help us process your loan request:

1. Completed Loan Application-will be open to you in our secure portal
2. Personal Financial Statement – will be open to you in our secure portal
3. Nonrefundable application fee of $75.00 paid via credit card https://www.greatlakeswbc.org/loan-payment-center/
4. Business plan OR Expansion plan including detailed use of loan proceeds (explaining how you will use the money) **
5. If requesting more than $20,000 you will be required to self-certify that you cannot secure funding from traditional sources -a No Credit Elsewhere form can be provided for your convenience.
6. Last two years of personal and business tax returns of applicant, complete with all schedules
7. Interim business financial statements‐ (Year to date profit and loss, Jan 1^st through current)
8. One year of projections for startups
9. Certificate of Insurance or quote- for existing businesses
10. Lease Agreement for existing business if outside of home
11. DBA, Articles of Incorporation, and/or partnership agreement, LLC, Bylaws, operating

Agreement

12. Description of present or pending lawsuit(s), or bankruptcy (if applicable)
13. Franchise agreement (if applicable)
14. Any additional information that will enhance loan proposal –
15. Paystubs covering the most recent 30 days (if applicable)

** Business plan – for businesses under one (1) year of operation

** Expansion plan for businesses in operation more than one year

LIFT Loan Terms

Length | The loan may be amortized for a term of up to six years.
Interest | Small Business Lift Loans are offered at a competitive fixed rate.
Collateral | Loans must be on a secured basis, with guarantees of collateral and/or possibly a co-signer.
Amount | Small Business Loans up to $75,000.

We offer business assistance from marketing and social media campaigns to resources and referrals, our experienced and knowledgeable loan staff provides unmatched support to assist our borrowers to grow their businesses. A business growth manager will work with you to grow and sustain your business.

If you have questions or need assistance with the application process, contact a Loan Officer by calling 734-677-1400.

To determine if you qualify and which loan best fits your needs please use the Get Started button.