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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:

  1. Business Financing
  2. Commercial Real Estate Acquisitions
  3. 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:

  1. Borrowers are required to contribute 10% of the loan amount
  2. One job or FTE must be created for every $35,000 borrowed
  3. Comprehensive business plan
  4. $250.00 application fee
  5. 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

  • Saginaw Future, Inc.
    www.saginawfuture.com

    • Site Selection
    • Incentive packaging
    • Revolving Loan Fund

  • Small Business Technology Development Center
    www.misbtdc.org/region5

    • Business Plans
    • On going business development

 

 
 

 

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