IIG Impact Microfinance Fund Loan Application Fall 2022
Impact Investing Group is a University of Michigan-run 501(c)(3) nonprofit that seeks to provide flexible business loans to Detroit-based small business owners and entrepreneurs.

Loans will be a range from $3000 to $5,000 at a 4-5% interest rate for a 3 year repayment term. Before you can receive a loan, a team will examine your business during a 3 month review process. We will NOT ask for credit or collateral and can offer flexible financing opportunities.

If your business passes this stage and is awarded the nonprofit loan, the funds will be disbursed to you in January 2023. Your business will also be available to register for our free consulting services.

All information in this application will remain confidential.

Apply by August 5th at 11:59 PM EST. You will hear back from us shortly after this deadline with our decision about next steps.

If you have any questions, concerns, or need support with completing the application, please contact iigumich@gmail.com.
Email *
Your Name *
Title/Role in Business *
Phone Number *
Email *
BUSINESS INFORMATION
Name of Business *
Business Address *
When was your business started? *
Briefly describe your business. Tell us what products/services you offer and who your primary customers are. *
IIG ELIGIBILITY REQUIREMENTS
Eligibility Requirements: Please select the boxes that apply to you *
Required
Briefly explain your business community impact as far as products or services, employment, mission, or community engagement. *
LOAN ASK
How would you use a $3000-$5000 loan investment from our organization? *
I understand I can drop out of the loan application process at any time, including the 3-4 month due diligence process. *
CONSULTING
What kinds of projects can we work on to help grow your business and how else do you see the Impact Investing Group being helpful for your business? *
I understand the requirements of the consulting process (bi-weekly or monthly calls for up to a year after the loan is received). *
POST APPLICATION SCREENING CALLS
After you have submitted your loan application, we will reach out to you to schedule a 15 minute phone call. We will, of course, work around any other plans you may have.
What times work best for a phone call? (check ideal times)
Preferred Contact Phone Number *
A copy of your responses will be emailed to the address you provided.
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