Flint, Saginaw get business help with new loan incentive - ABC 12 – WJRT – Flint, MI

Flint, Saginaw get business help with new loan incentive

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UNDATED (WJRT) -

(11/27/12) - A new incentive has been launched to help entrepreneurs start up businesses in Michigan's core cities. That includes Flint and Saginaw.

Michigan Certified Development Corporation, or MCDC, already has a small business loan program, but now they're sweetening the pot for those who invest in communities hit hard by tough economic times.

The MCDC believes this could be a real game changer - that it might just be enough to get more businesses here and in turn more jobs.

"We really believe in we are doing, we believe in these core cities and growing these business and seeing jobs created, it's going to pay back 10 times over," said MCDC President, Jane Sherzer.

The Michigan Certification Development Corporation or MCDC is focusing its efforts on Michigan's core cities like Flint and Saginaw.

"We started this year to make a stronger commitment right here in the city of Flint with this extra subsidy of up to $5,000," Sherzer said.

"What I think this will do for the Great lakes bay region is again open up communication for the projects that people may be dreaming about but don't know how they'll achieve them," said Christine Greve of Delta College.

The program will subsidize up to one percent of the loan amount to help with things like appraisal, environmental clean up and closing costs. "The loan program is eligible for businesses that are expanding real estate or purchasing equipment, so anyone making a capital investment here in Flint could participate in this loan program."

The announcement was made at Halo Burger in downtown Flint Tuesday. Dortch Enterprises bought the iconic brand two years ago with the help of this loan.

"If they're behind it, it's going to work, I'll tell you that. $5,000 is $5,000. It's better than a poke in the eye with a sharp stick," said Lou Dortch.

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