Affordable Loans

Affordable loans with terms and conditions to fit your plan and projections. We help everyone from start-ups to well-established small businesses.

Our loan options include…

Hank and Virginia Fields of White Bison Native Art

New Business Micro Loan

(Up to $50,000)

Terms: Up to 60 months

  • Stage of Business:

    • pre-startup through 1-2 years in business

  • Documentation: Personal Federal income tax returns for last 3 years; Business plan including 3 year projection.

  • Collateral: Required

  • Use of Funds: Equipment, inventory, working capital

Manager rings up customer at L'chayim Deli in Frankfort, Michigan

Existing Small Business Loan

(Up to $350,000)

Terms: Up to 84 months

  • Stage of Business:

    • 3 years in business. On-time payment history

  • Documentation: Business financial statements, Personal & Business Federal tax returns for last 3 years

  • Collateral: Not Required, project dependent

  • Use of Funds: Equipment, inventory, working capital, short-term bridge financing, gap financing, real estate

Entrance to Brick Wheels Bike Shop in Traverse City, Michigan

Energy Efficiency Micro Loan

(Up to $50,000)

Terms: 0% interest, length of term based on estimated energy savings

  • Stage of Business:

    • 1 or more years in business. See ‘qualifications’ for additional criteria.

  • Qualifications*: Must be a Traverse City Light & Power commercial or industrial customer in good standing making energy efficiency upgrades (not new construction)

  • Documentation: Business financial statements & Business Federal tax returns – Last 3 years

  • Use of Funds: Energy Efficiency electrical upgrades/products

***Borrower must complete a Traverse City Light & Power Application and receive approval in addition to the Venture North loan application and approval process.