FOR IMMEDIATE RELEASE
FUNDING AVAILABLE FOR SMALL, MINORITY, AND/OR WOMEN-OWNED BUSINESSES IN OAKLAND COUNTY
May 26, 2023 Pontiac, MI—CEED Lending, a division of the Great Lakes Women’s Business Council, has $4 million in funding for small businesses that have been affected by COVID-19. The funding is available to businesses located in Auburn Hills, Farmington Hills, Ferndale, Hazel Park, Madison Heights, Oak Park, Pontiac, Royal Oak, Waterford, and Southfield; Michigan loan amounts range from $50,000 to $200,000. All Oakland County for-profit small businesses are welcome to apply.
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, explained, “The Oakland County Revolving Loan Fund (OCRLF) can help historically underserved small businesses reach their financial goals. CEED Lending is also committed to supporting businesses in economically disadvantaged areas. We encourage small businesses to reach out to CEED Lending for the OCRLF and other lending programs we offer throughout Michigan.”
Kim Craig, the owner of Day-to-Day Necessities, was successful at getting her garden tool, the Musashi Weeder, into Lowe’s; and Karen Akouri, owner of Drench Dressing, an all-natural salad dressing and marinade company, both received funds from the OCRLF and have been able to boost their sales significantly.
CEED Lending, an initiative of the Great Lakes Women’s Business Council, is an SBA microlender and a Community Development Financial Institution (CDFI) providing access to capital to small business owners 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 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 (WBENC). These businesses generate approximately $8.6 billion in annual revenue.
CEED Lending, A Division of Great Lakes Women’s Business Council
Contact: Delora Hall Tyler
33109 Schoolcraft Road, Livonia, MI 48150 ∙ Phone 734.677.1400 ∙ Fax: 734-519-1599