What is it? An innovative loan program that supports a direct business loan from participating financial institutions, providing small businesses with capital that otherwise might not be accessible.

Who's eligible? Most types of businesses are eligible (except construction, renovation, purchase of residential or rental housing, or rental property). Applying businesses must meet eligibility criteria of the participating financial institution.

How much is available? There is no cap on the loan size or restriction on terms. Again, these elements are determined by the financial institution.

What are the terms for agreement? The participating financial institution assumes the risk of the loan and sets lending terms.

Financial Institutions in the Traverse Bay region that have signed up to participate in this program include:

• Fifth Third Bank
• The Huntington National Bank
• Independent Bank
• Irwin Union Bank & Trust
• National City Bank

Click here for more information, or contact the Traverse Bay EDC.