IIG Impact Microfinance Fund Loan Application Fall 2023
Impact Investing Group is a University of Michigan-run 501(c)(3) nonprofit that seeks to provide flexible business loans to Detroit-based small business owners and entrepreneurs.

Loans will be a range from $1000 to $5,000 at the prime rate + 1% interest rate for a 3 year repayment term. Before you can receive a loan, a team will examine your business during a 3 month review process. We will NOT ask for credit or collateral and can offer flexible financing opportunities.

If your business passes this stage and is awarded the nonprofit loan, the funds will be disbursed to you in January 2024. Your business will also be eligible for possible reinvestment (secondary loan), following a secondary review process and a properly maintained relationship with Impact Investing Group. In addition, you will have access to our consulting services and guidance at a minimum for the duration of your loan.

All information in this application will remain confidential.

Apply by September 29th at 11:59 PM EST. This is a rolling process, so you will hear back from us shortly after you apply our decision about next steps.

If you have any questions, concerns, or need support with completing the application, please contact iigumich@gmail.com. Feel free to check out our website - https://www.iigumich.com.

To be fully considered, we will review your latest version of financial information on your business. Formal financial reports aren't required to be eligible - we will accept drafts of any financials available.
Email *
Your Name *
Title/Role in Business *
Phone Number *
Email *
BUSINESS INFORMATION
Name of Business *
Business Address *
When was your business started? *
Briefly describe your business. Tell us what products/services you offer and who your primary customers are. *
IIG ELIGIBILITY REQUIREMENTS
Eligibility Requirements: Please select the boxes that apply to you *
Required
Briefly explain your business community impact as far as products or services, employment, mission, or community engagement. *
LOAN ASK
How would you use a $1000-$5000 loan investment from our organization? *
I understand I can drop out of the loan application process at any time, including the 3-4 month due diligence process. *
CONSULTING
What kinds of projects can we work on to help grow your business and how else do you see the Impact Investing Group being helpful for your business? *
I understand the requirements of the consulting process (bi-weekly or monthly calls for up to a year after the loan is received). *
POST APPLICATION SCREENING CALLS
After you have submitted your loan application, we will reach out to you to schedule a 15 minute phone call. We will, of course, work around any other commitments you may have.
What times/dates work best for a phone call? Include three different slots you are available in the next few weeks *
Preferred Contact Phone Number *
How did you hear about Impact Investing Group? (Please list the name of the person that referred you) *
A copy of your responses will be emailed to the address you provided.
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