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MI
Michigan CDBG Loan Program
Federal CDBG-backed loan program providing loans to eligible small businesses to meet national objectives.
About this program
Federal CDBG-backed loan program providing loans to eligible small businesses to meet national objectives.
Eligibility
Often routed through local units of government and focused on job creation and benefit to low- and moderate-income persons.
Requirements
- At least 51% of created positions must be held by persons meeting HUD's low- to moderate-income (LMI) standard
- Must meet national objective requirements
- Expected to leverage private and other public funds with minimum 1:1 leverage ratio preferred
Funding Categories
CDBG Small Business Loan