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SBA Awards GROW $600,000 to Fund Business Loans

SBA Awards GROW $600,000 to Fund Business Loans

West Michigan entrepreneurs can apply for microloans through the organization called Grand Rapids Opportunities for Women, or GROW.

Spokeswoman Adrienne Asselmeier said eligible borrowers can get a loan worth up to $50,000.

"They can use it for working capital, or fixtures or furniture, or different equipment that they need either to start their business or bring it to the next level."

Loans are available to men and women who own businesses but cannot borrow through banks.

"If somebody isn't able to get a regular bank loan, they're more than welcome to come to us.  We consider things like alternative forms of collateral and things like that."

The US Small Business Administration awarded GROW $600,000 to fund the loans.

"Last year we got $200,000, so we've literally received three times the amount of funding this year than we got last year."

To learn more about applying, visit growbusiness.org or call 616-458-3404.

 

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