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FUND

CAPITAL TO HELP YOUR BUSINESS GROW

NO INTEREST LOAN PROGRAM

An equitable financial solution to help Black small businesses.  At Black Leaders Detroit, we seek to rectify the effects decades of discriminatory behavior from traditional financial institutions has had on the Black small business community.

Preliminary Loan Requirements:
● A for-profit business located in the city of Detroit
● Registered with the state of Michigan (LARA) and have a federal EIN number 
● Must be majority Black-owned 
● Established for at least one year

Terms:

● 0% Interest

● No hidden fees 

● 3 Years (36 months) repayment

● 60 day grace period before first monthly payment due

Note: We use Lenderfit application software. Communications regarding your application may originate from our Lenderfit email address.

Questions? Contact: Kevin Taylor - Kevin@blackleadersdetroit.org

Apply for a Small Business No Interest Loan up to $20,000.

Application and Disbursement Schedule:

Cycle One

Jan. 1 - Jan. 31: Application Window
Feb. 1 - Feb. 28: Screening
Mar. 1 - Mar. 31:  Approval
Apr. 15 - Cycle One Loans Issued

Jun. 15 - First Monthly Payment Due

 

Cycle Two

Apr. 1 - Apr. 30: Application Window
May 1 - May 31: Screening
Jun. 1 - Jun. 30: Approval
Jul. 1 - Cycle Two Loans Issued

Sept. 15 - First Monthly Payment Due

 

Cycle Three

Jul. 1 - Jul. 31: Application Window
Aug. 1 - Aug. 31: Screening
Sep. 1 - Sep. 30: Approval
Nov. 15 - Cycle Three Loans Issued

Jan. 15 - First Monthly Payment Due

 

Cycle Four

Oct. 1 - Oct. 31: Application Window
Nov. 1 - Nov. 30: Screening
Dec. 1 - Dec. 31: Approval
Jan. 15, 2023 - Cycle Four Loans Issued

Mar 15 - First Monthly Payment Due