Eastern Washtenaw County Microloan Program
DEFINITION AND PURPOSE
Washtenaw County and Ann Arbor SPARK have agreed to establish the Eastern Washtenaw Microloan Fund (the Fund). The mission of this fund is to support innovative, high-growth start-up companies throughout eastern Washtenaw County as they near commercial viability. The focus is on companies that are creating innovative ideas and solutions in the areas of:
- Advanced automotive, manufacturing, and materials
- Alternative energy
- Homeland security and defense
- Life sciences
- Information technology
- Web 2.0, social networking
- B2B and B2C technology services and products
The purpose of the Fund is to accelerate company development by providing access to early-stage capital to extend the personal investment of entrepreneurs and their own finance network during the critical stage when they are developing their businesses to the point of readiness for outside investment and sales. Companies are required to participate in a due diligence investigation by Ann Arbor SPARK, thereby professionally identifying and addressing competitive, financial, regulatory and related risks through the screening process.
View the complete Eastern Washtenaw County Microloan Program Overview
Download the Scoring Sheet to view the necessary criteria
Loans are in the form of a Subordinated Note. View the loan document you will sign if approved.