Detroit Development Fund
The Detroit Development Fund is dedicated to fostering economic growth in Detroit by providing financial resources and support to entrepreneurs of color. With a strong focus on minority-owned businesses, the fund has facilitated over $125 million in small business loans, significantly contributing to job creation and retention within the city.
Through initiatives such as contractor lines of credit, micro-loans, and the Entrepreneurs of Color Fund, the organization aims to empower local entrepreneurs by offering financing, training, and consulting. This commitment has proven impactful, with nearly 180 loans closed at a total value of approximately $18 million, leading to the creation of nearly 1,900 new jobs in Detroit.
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