Loan Resources

Loans from Banks

You should check with local banks in your business area about commerical loan options.

Loans from Economic Development Corporations

Some Economic Development Corporations (EDC) and Chambers of Commerce have loan funds available in their areas. Check with both to find availability in your business area.

Loans from Northern Initiatives

www.niupnorth.org

Northern Inititives is devoted to improving the economic standing of the Upper Peninsula by helping entreprenuers succeed with their businesses. Northern Initiatives lends money for start-ups and business expansions. Northern Initiatives is able to provide assistance to their loan customers in the areas of marketing, financial management and general business consulting.

Loans from Relatives / Friends

Friends and family may be an option for full or supplemental funds to start your business. If they are willing to loan you the money to start the loan as you would a bank note with an agreed upon payment amount, length of loan, interest rate (if applicable), etc.

General Financing Information

www.Entrepreneur.com/Your_Business/YB_Node/0,4507,367,00.html
- Entrepreneur.com has "coaches" that have written easy to follow instructions to help guide you through the process of trying to obtain money for your business. There are numerous topics on varying subjects involved with raising money or getting loans to fund your business.
www.sba.gov/financing/
- Information is provided about raising capital for your business, estimating costs, understanding financial statements, and determining eligibility.
- The SBA also offers many special programs and supports many special interests. Some special interest topics include Native American Affairs, Veterans, Minorities, and Women Entrepreneurs. Also, there are special purpose loans that you should check if you qualify to apply for.

Click the How to get a Grant? tab in the right hand column to continue your research.