MEDC Support Programs
The MEDC Collateral Support Program pledges cash collateral when your business does not have enough collateral to support your loan.
The MEDC Loan Participation Program purchases a portion of the bank’s loan and is able to offer a grace period of up to 36 months to alleviate cash flow, which is ideal for businesses projecting growth.
In general, to qualify for an MEDC program, your business must:
- Have less than 750 employees
- Be on the approved list of industries; generally a company which provides technical products and services
- Not exceed a $20,000,000 loan
- Use proceeds for Michigan projects