Saginaw Economic Development Corporation
City Hall, second floor, Room 207
Telephone (989) 759-1395
Fax (989) 759-1734
The Saginaw Economic Development Corporation (SEDC) offers loans of up to $220,000 for start-up businesses, existing or for expanding businesses that are located or will locate in the City of Saginaw.
Purpose: The primary goals of the Saginaw Economic Development Corporation (SEDC) are to create and retain jobs and to expand and diversify the economic base of the City of Saginaw.
Financing: Loans are available for the following:
- Business Financing
- Commercial Real Estate Acquisitions
- Fixed Asset Purchases such as machinery, equipment and inventory
Eligibility: Loans are available to private, for-profit businesses located or will locate within the City of Saginaw. Other requirements are:
- Borrowers are required to contribute 10% of the loan amount
- One job or FTE must be created for every $35,000 borrowed
- Comprehensive business plan
- $250.00 application fee
- Applicant must have a bank approval and receive written maximum amount approved or applicant must have two written bank denials from at least two banks before SEDC is considered
Terms: Loan terms are flexible and are determined on a case-by-case basis.
Low Interest Rates
Technical Assistance: SEDC has funding opportunities for entrepreneurs with needs such as: accounting, consultants, business plan preparation and marketing.
For More Information: Please contact Mary Surian at msurian@saginaw-mi.com with any questions or to begin your application process.
Referral to Community Resources
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Saginaw Future, Inc.
www.saginawfuture.com- Site Selection
- Incentive packaging
- Revolving Loan Fund
- Site Selection
-
Small Business Technology Development Center
www.misbtdc.org/region5- Business Plans
- On going business development