Use the Get Started button to determine if you qualify for a small business loan.
The Oakland County Revolving Loan Fund (OCRLF) was created to provide gap financing to for profit businesses, primarily small businesses owned by minorities, women, or located in an economically disadvantaged area. Only small businesses in Oakland County, Michigan, can apply.
Loan proceeds can be used to finance the acquisition and modernization of commercial real estate, acquisition of machinery/equipment, facility renovations, and working capital.
- Loan amount up to $200,000 maximum
- Business must be located in Oakland County, Michigan
- Nonprofits are ineligible
Oakland County Revolving Loan Fund can provide gap financing up to one-third of total project cost.
- Minimum 10% owner’s equity in the project
- Term loans with amortizations of up to ten years
- Competitive fixed interest rates
- Types of projects include acquisition and modernization of commercial real estate, acquisition of machinery/equipment, facility renovations, and working capital
- Bank/Credit Union can have the first lien on assets
- OCRLF dollars can be considered as equity in the project for loan-to-value purposes
- Bank/Credit Union loans combined with owner’s equity make up two-thirds of the project cost
Use the Get Started button to see if you qualify for a loan.
With loan acceptance, business owners will participate in the full loan client experience by attending business support sessions with our Loan Client Success Coordinator.
You are also encouraged to attend loan orientations provided by CEED Lending.
If you have questions or need assistance with the application process, contact a Loan Officer by calling:
Xana Williams 248.238.7680
Belinda Turner-DuBois 248 460-3973
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