Fremont Area Community Foundation wants to help preserve the existing businesses in our community and give them the tools to not only survive but to thrive as our state carefully reopens and businesses once again generate income.
That’s why the Community Foundation created the Small Business Recovery Loan Program to provide support to small businesses in the wake of the COVID-19 pandemic. The Community Foundation will partner with Michigan State University Federal Credit Union (MSUFCU) to offer low-interest loans with favorable terms.
WHO
Self-employed individuals and small businesses (both for-profit and nonprofit) with fewer than 50 employees
WHAT
Loans from $5,000 to $50,000 are available for Newaygo County businesses with fewer than 50 full-time employees. The terms of the loans are favorable with a low interest rate and up to a five-year term. The first principal and interest payments may not be due until 90 days after closing, depending on the needs of the business. Both nonprofit and for-profit entities are eligible to apply, including service, retail, agriculture, commercial, and industrial businesses.
WHERE
Businesses must be located in Newaygo County to apply
HOW
The Community Foundation is partnering with MSU Federal Credit Union, a Michigan-based organization with a shared commitment to our community. All loan documentation will come from MSUFCU.
Request assistance
If you or your business are interested in applying for a loan from the Small Business Recovery Loan Program, please start by reaching out to Dan Wheat or Don Farmer at loan@facommunityfoundation.org or the additional contact information below.
Dan Wheat, FACF community investment officer
dwheat@facommunityfoundation.org
231.766.1210
Don Farmer, independent consultant retained by FACF
farmer.d.w.@comcast.net
231.928.9155
