Community Foundation and MSU Federal Credit Union Offer Expanded Business Loan Program
Fremont Area Community Foundation recently expanded their small business loan program through Michigan State University Federal Credit Union (MSUFCU) to support businesses in Newaygo, Lake, Mecosta, and Osceola counties.
The Community Foundation created the Small Business Recovery Loan Program with MSUFCU in 2020 to help small businesses in Newaygo County impacted by the pandemic. Now, the Community Foundation is broadening that assistance to business start-ups and expansions as well as pandemic-related needs. Loans will also be available to businesses in the counties served by the Community Foundation’s three affiliate foundations.
“Local small businesses are crucial to the economy in our region,” said Shelly Kasprzycki, Community Foundation president and CEO. “Through our partnership with MSUFCU, we are excited to increase our support of local businesses.”
“MSUFCU recognizes the role small businesses play in communities—they create opportunities, energize the economic base, and cultivate a spirit of entrepreneurialism,” said April Clobes, president and CEO of MSUFCU. “We are pleased to partner with Fremont Area Community Foundation to provide small businesses access to affordable financing through this program.”
Through the partnership with MSUFCU, loans of up to $50,000 are available at a low interest rate. For-profit and nonprofit businesses with 50 or fewer full-time employees are eligible to apply. The business must be headquartered in Lake, Mecosta, Newaygo, or Osceola counties.
To inquire about eligibility, start the application process, or get more information, contact Dan Wheat, community investment officer, at 231.924.7616 or email firstname.lastname@example.org.