Financing Michigan’s Good Food Future: Meet Our Network of Lenders

At Michigan Good Food Fund, we offer an equitable approach to lending. We start by understanding the unique challenges of the food and farm businesses we support and find flexible funding options that can help turn entrepreneurial dreams into reality.

Our robust lending network supports entrepreneurs on their path to success, including those who might not yet qualify for traditional financing. Explore our lenders below to see how we can tailor our financing options to the unique needs and specific goals of your business.

Lenders offering small-scale business financing starting at $2,500:

Detroit Development Fund

Service Area: Detroit, Highland Park, Hamtramck
Loan Ranges: $2,500 – $250,000
Loan Uses: Working capital, Inventory, Equipment/Machinery, Real Estate Acquisition, Construction & Property Improvements, Facility Expansion and/or upgrades, Business process upgrades.

For over 25 years, Detroit Development Fund has focused on empowering Detroit’s local entrepreneurs, directing over $85 million in loans primarily to Black-owned, minority, and women-owned businesses. They are committed to fostering economic and racial equality in Detroit and beyond.

Fair Food Network

Service Area: Statewide
Loan Ranges: $2,500 – $250,000
Loan Uses: Working capital, Inventory, Equipment, Machinery, Facility Expansion and/or upgrades, Business process upgrades

Fair Food Network’s Fair Food Fund creates innovative financial products to support food entrepreneurs who nurture the health and vitality of their communities. Working at the intersection of food, health, and economic justice, Fair Food Fund supports the success of food entrepreneurs through catalytic capital and comprehensive business assistance.

Grow

Service Area: West Michigan
Loan Ranges: $2,500 – $50,000

Founded in 1989, Grow offers accessible loans and financial training to women and small business owners in West Michigan, addressing capital and educational barriers to promote economic mobility. Their focus is on supporting systemically excluded communities to achieve sustainable business success.

Lake Trust Credit Union

Service Area: Central/West MI
Loan Ranges: $2,500 – $49,990
Specialized Lending Programs: Micro Loans, Lines of Credit

Lake Trust Credit Union is dedicated to expanding economic opportunities in Michigan’s low-income neighborhoods, supported by significant grants aimed at providing accessible financial solutions. They offer micro-loans and lines of credit to foster small business growth in central and west Michigan.

Michigan Community Capital

Service Area: Statewide
Specialized Lending Programs: Real estate loans, Bridge loans, Predevelopment loans

Michigan Community Capital is a 501(c)(3) nonprofit that facilitates investment of private and public capital in Michigan. They use New Markets Tax Credits and CDFI lending to finance key community development projects, including healthy food access, quality job creation, and attainable mixed-use housing.

Michigan Women Forward

Service Area: Statewide
Loan Ranges: $2,500 – $50,000
Loan Uses: Working capital, Inventory, Equipment/Machinery, Real Estate Acquisition, Construction & Property Improvements, Facility Expansion and/or upgrades, Business process upgrades
Specialized Lending Programs: Microloan Loans (Statewide) and Endurance Loans (Washtenaw County only)

Michigan Women Forward has empowered women and entrepreneurs of color across Michigan through economic opportunities and expanded access to capital since 1986. They offer a range of microloan and endurance loan programs tailored to different stages of business development.

ProsperUs Detroit

Service Area: Detroit, Highland Park, Hamtramck
Loan Ranges: $2,500 – $50,000
Loan Uses: Working capital, Inventory, Equipment/Machinery, Real Estate Acquisition, Construction & Property Improvements, Facility Expansion and/or upgrades, Business process upgrades
Specialized Lending Programs: Traditional Micro Loan, Step-Up Loan, and Credit Builder Loan

ProsperUs Detroit is committed to advancing economic equity in Detroit, Highland Park, and Hamtramck, offering capital, education, and support to help entrepreneurs build businesses and vibrant neighborhoods. They emphasize comprehensive resources and community-driven initiatives to foster resilient communities.

Lenders offering business financing up to $350,000

CDC Small Business Finance

Service Area: Statewide
Loan Ranges: $10,000 – $350,000
Loan Uses: Working capital, Inventory, Equipment/Machinery, Real Estate Acquisition, Construction & Property Improvements, Facility Expansion and/or upgrades, Business process upgrades
Specialized Lending Programs: SBA loans

CDC Small Business Finance has expanded from a regional lender to a national leader in affordable capital solutions since its inception in 1978. Their offerings include SBA 504 loans and the Activate loan program, specifically designed for Black-owned businesses, inspired by founder Arthur H. Goodman’s commitment to economic inclusivity.

CEED Lending

Service Area: Southeast Michigan
Loan Ranges: $5,000 – $200,000
Loan Uses: Working capital, Inventory, Equipment/Machinery, Business process upgrades
Specialized Lending Programs: SBA loans

CEED Lending, an initiative of the Great Lakes Women’s Business Council, offers loans and business assistance across nine southeast Michigan counties. Their programs, like the LIFT loans and OCRLF, have helped create over 1,800 jobs. They are dedicated to supporting startups and business expansion with a significant track record of empowering local economies.

Lenders offering large-scale business financing up to $15M

LISC Kalamazoo

Service Area: Kalamazoo Communities
Loan Ranges: $100,000 – $10,000,000
Loan Uses: Predevelopment, Acquisition, Construction, Mini-permanent, Permanent, Bridge
Specialized Lending Programs: SBA 504, Community Advantage programs, Kiva Loan Crowdfunding Platform

LISC Kalamazoo, part of the national Local Initiatives Support Corporation, focuses on revitalizing urban neighborhoods in Kalamazoo into thriving communities. As a Community Development Financial Institution (CDFI), it provides critical financing and support for development projects and small businesses, especially in marginalized communities.

Capital Impact Partners

Service Area: Statewide
Loan Ranges: $750,000 – $15 million
Loan Uses: Acquisition, Construction, Facility Expansion
Specialized Lending Programs: Real estate development loans

Since 1982, Capital Impact Partners has been championing marginalized communities, providing over $3 billion in funding. They specialize in real estate development loans, impacting everything from community facilities to growth-stage businesses, and are recognized by S&P Global and Aeris for their significant financial and social impacts.