Our Loan Options
About Our Small Business Loans
Our goal is to help Michigan entrepreneurs get the capital they need to help their small businesses thrive, create generational wealth and invest in their communities. Below are the general guidelines for how all Michigan Women Forward loans can and can’t be used and what businesses qualify.
Loans CAN BE used for:
✔️ Start-up costs
✔️ Inventory
✔️ Equipment
✔️ Marketing
✔️ Rent
✔️ Payroll
Loans CAN’T BE used for:
❌ Repayment of other loans
❌ Investments
❌ Real estate purchases
❌ Payments to founders, owners or other company affiliates
Qualifying businesses:
✔️ Legally registered in the State of Michigan
✔️ Start-up businesses
✔️ Established businesses
✔️ For-profit businesses.
✔️ Home-based, mobile, online or brick-and-mortar businesses
Non-qualifying businesses:
❌ Academic institutions
❌ Multi-level marketing / pyramid sales
❌ Lending and investment institutions
❌ Cannabis businesses
MWF Statewide Microloan
Our standard small business microloan offers capital loans of $2,500-$50,000 to Michigan small businesses.
Terms:
✔️ 8% interest rate
✔️ 3% loan fee paid by borrower at closing
✔️ No prepayment penalty
✔️ Loan repayments within 3-6 years
MWF Endurance Loan Program
The Endurance Loan Program is a loan opportunity paired with grant funding for new and existing businesses in Washtenaw County. This special capital loan program is made possible by an investment from the Ann Arbor Area Community Foundation and is sponsored by The Entrepreneurship Center of Washtenaw Community College.
Approved Loans Will Receive:
✔️ Potential grant funding of up to 50% of qualified loan amount
✔️ Guaranteed three months of interest-only payments
✔️ Additional access to free technical assistance to enhance your business
Special Loan Conditions:
✔️ Washtenaw County businesses only; priority ZIP codes are 48197 and 48198
Terms:
✔️ Lower 7% fixed interest rate
✔️ 3% loan fee paid by borrower at closing
✔️ $2,500-$20,000 loan amount
✔️ 36 to 48 months loan term
✔️ No prepayment penalty
BUILD Alumni 3C Loan
The BUILD Alumni 3C Fund: Capital, Credit-Building, Contribution is a loan opportunity available exclusively to BUILD Institute alumni in partnership with BUILD Institute and Michigan Women Forward. This unique loan offers BUILD Institute alumni special terms, such as a reduced interest rate and the opportunity to have up to 1/3 of their loan payments forgiven with BUILD’s Loan Forgiveness Grant.
Approved Loans Will Receive:
✔️ Last year of payments forgiven when first 2 years of payments made on time
✔️ Up to 6 months of interest-only payments available (borrowers who utilize this option are ineligible for the 1-year loan forgiveness)
Special Loan Conditions:
✔️ Build Institute alumni only
Terms:
✔️ Lower 3% fixed interest rate
✔️ 0% loan fee paid by borrower at closing
✔️ $2,500-$10,000 loan amount (larger amounts possible)
✔️ 3 years loan term
✔️ No prepayment penalty
Ready to apply? Find out if you qualify!
Fill out our no-obligation form to see if you qualify for an MWF Small Business Microloan. It’s free, easy and the first step to take before officially applying for one of our loans.