Michigan Economic Development Corporation (MEDC) works to increase the availability of capital for companies in Michigan at every stage of company development. MEDC can help connect your business with capital providers – federal grants, venture capitalists, banks, and others – as well as offer programs that can expand the reach of those capital providers.
Use the MEDC capital locator tool to find and connect with capital providers that are active in Michigan and have interest in your company’s stage and sector.
Funding options include:
- Debt Funding Programs
- Programs for Sources of Capital
- Venture Capital and Private Equity Programs
- Mezzanine Capital Programs
Business Accelerator Fund (MI-SBDC)
The Business Accelerator Fund may be accessed by participating business accelerators statewide to provide specialized business acceleration services to companies commercializing advanced technology. The program was developed with input from 13 Michigan business accelerators and will leverage that network to spread best practices statewide and in tandem with the SBDC’s business consulting, entrepreneurial education, and information based planning services.
Michigan Emerging Technologies Fund (MI-SBDC)
The Michigan Emerging Technologies Fund (the ETF) is designed to expand funding opportunities for Michigan technology based companies in the federal innovation research and development arena. Since 2008, the Michigan Small Business Development Center (MI-SBDC) in partnership with the Michigan Economic Development Corporation (MEDC) has dedicated $7.28 million to match federal SBIR/STTR funding opportunities for exceptional research and technical innovation generated in Michigan. The ETF will match both Phase I and Phase II SBIR/STTR awards until funds are exhausted.
SBA 504 Loan Program
This program provides small and medium sized businesses with long-term fixed rate financing for the acquisition or construction of fixed assets.
SBA 7(a) Loan Program
The Small Business Administration (SBA) provides a repayment to banks making loans under this program. This allows the lender to recover a portion of what it lent from the SBA if the borrower can't make the payments. The borrower is still obligated for the full amount. The reduced risk permits lenders to give small business owners access to the same kinds of reasonably priced, long-term financing available to large businesses.
CEED Microloan Program
To assist startup and expansion of a business. Microloans may be used for equipment, inventory, supplies and some working capital.
Michigan Angel Fund (MAF)
MAF focuses on providing funding to capital efficient early stage companies located in Michigan. They work closely with other stakeholders in the Michigan entrepreneurial ecosystem to ensure that we invest in the most promising companies and to ensure the future success of these companies and our investments. Please see the “Entrepreneurs” section of this website for a discussion of the investment requirements.
U-M Translational Research and Commercialization for Life Sciences Program (MTRAC)
MTRAC provides mid-stage, translational research funding and resources to identify, nurture, and “fast forward” projects with a high potential of commercial success. Projects funded by MTRAC enhance the internal innovation pipeline for long-term success in commercialization. And while invention reports and IP licensing are important milestones for MTRAC projects, positive impacts to human health – as well as job creation – are the ultimate measures of success.
Develop Michigan is an innovative not-for-profit development finance organization formed through a partnership between the State of Michigan, Great Lakes Capital Fund (GLCF) and the Development Finance Group (DFG). Develop Michigan will play a dynamic role in financing commercial real estate projects and is designed to supplement current efforts to transform and rehabilitate the Michigan economy.
Arctaris Michigan Fund
Launched in July 2013 in conjunction with the State of Michigan, the fund seeks to construct a portfolio of secured loans to profitable small businesses that are underserved in the prevailing credit market. The fund uses the same security structure as the predecessor Arctaris Income Fund, and also benefits from a first loss provision taken by the State of Michigan that provides a credit cushion of up to 20%, protecting our private LPs.