Project Description

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Detroit Community Loan Fund

Detroit Community Loan Fund (DCLF) is a Community Development Financial Institution (CDFI) and low-profit limited liability company (L3C), created by Detroit Development Fund and Invest Detroit. DCLF finances small businesses headquartered in the city of Detroit which have traditionally faced obstacles in obtaining financing, but have demonstrated growth potential.

PROJECT AWARDED

Investment: $2 million to create low interest loans for local neighborhood businesses to preserve and create jobs through BizLoan, a project of the New Economy Initiative for Southeast Michigan.