Expanding opportunities in America’s cities

Detroit Development Fund

Detroit, Michigan
$1.4 million guarantee

Awarded

Committed:
2018

The community development financial institution assists in revitalizing economically distressed areas of Detroit by providing loans and technical assistance to small-business owners, developers, building owners and contractors. This guarantee supported the second-round funding for the Detroit Entrepreneurs of Color Fund. Though the proposed expansion, DDF sought to increase the fund’s total capacity to at least $19 million. The goal of the EOC Fund is to provide loans between $25,000 and $150,000 to 300 businesses owned by people of color or employing predominantly people of color based in Detroit.

 

Project:
Detroit Entrepreneurs of Color Fund 2.0

Area Served

Area Served:
Detroit