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- EIN 38-3322605
- (313) 784-9547
- 3031 W Grand Blvd Ste 505 Detroit MI 48202-3082 USA
- www.detroitdevelopmentfund.com
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Nonprofit Overview
Causes: Microfinance, Small Business Development
Mission: Shorebank eneterprise, detroit promotes the economic development of low- to moderate income residents in the city of detroit. Sed focuses on lending programs to provide financial assistance for minority small business owners, affordable housing developers and contractors, as well as job creation and retention for low- to moderate-income detroit residents.
Programs: The organization's small business loan fund provides growth capital in the form of business loans to detroit companies not able to obtain the necessary financing needed from traditional financing sources. In 2007, the organization expanded its lending programs to include contractor lines of credit and financing for affordable housing projects and commercial development. Most recently the organization moved forward with its rehabber financing program. This program provides lines of credit to local companies rehabbing foreclosed and abandoned homes in detroit and returning these homes to the market as affordable rentals, lease to own, or for sale properties.