Entrepreneurs of Color Fund

Entrepreneurs of Color Fund is sponsored by Detroit Development Fund. This program provides financing, training, and consulting services to businesses owned by entrepreneurs of color that primarily hire people of color.

Entrepreneurs of Color Fund | DDF Entrepreneurs of Color Fund “ For Detroit’s comeback to be a true success, there must be opportunity for the Detroiters who stayed. ” – Detroit Mayor Mike Duggan The purpose of the Entrepreneurs of Color Fund (EOCF) is to support the growth and development of Detroit-based businesses owned and operated by people of color.

The EOCF specifically seeks to help small businesses with growth potential and management insight that might lack sufficient collateral or owner equity to qualify for financing from mainstream lenders. Businesses may use the capital to expand, finance equipment, address short-term cash flow needs and provide contractor lines of credit. Loans may range from $10,000 to $300,000.

Contractor Lines of Credit Entrepreneurs of Color Fund Late-Stage Pre-Dev elopm ent Loans Black-owned and BIPOC entrepreneurs located in the City of Detroit provided in loans to BIPOC entrepreneurs of loans made to Black woman-owned businesses jobs created or retained in the City of Detroit square feet of vacant commercial space filled by Black-owned and BIPOC companies in the City of Detroit