Existing Customer

Expanding economic opportunities for Michigan entrepreneurs to sustain and accelerate growth

Small Business Loans

OppFund is proud to offer a variety of loan products that provide small businesses, including nonprofits, across Michigan with access to capital. We specialize in supporting community facilities with a mission to serve community members.

Conventional Small Business Loan

OppFund offers a secured loan up to $350,000 for business operations, working capital, or expansion for small business operators.

SBA Community Advantage Loan

We provide government-guaranteed financing (up to $350,000) for local ownership and sustainable growth in distressed geographies in Michigan.

State Small Business Credit Initiative

OppFund has another government-guaranteed financing (up to $350,000) for underserved business owners to support growth and job creation who may not qualify for traditional loans.

Contact Us

By Phone

Alexis Hill
(West Michigan)
ahill@oppfund.org
(616) 320-2550

Message Us

Carlton Shelton
(East Michigan)
cshelton@oppfund.org
(313) 462-2419

Resources

Small Business Resources

Small Business & Commercial Loan FAQs

Small Businesses & Micro-Enterprises

OppFund provides loans for the start up and expansion of a small business, at every stage. Our lending capabilities include:

  • Startup Capital

  • Working Capital

  • Business Expansion

  • Build-Out

  • Inventory

  • Short-Term Financing

Non Profits

OppFund provides two types of loans to nonprofit organizations:

  • Facility Loan: For acquisition, renovation, or construction of a building for use in the delivery of your services to low income or disadvantaged individuals

  • Working Capital Loan: Unrestricted funds to assist with your cash flow needs to deliver your service

Terms are flexible with a wide range of loan amortization and maturities although, generally 5 to 10 year terms.

Interest rates are competitive and designed to accommodate the needs of your business.

We provide loans to individuals, nonprofits and for-profit businesses previously denied credit by traditional lenders and/or those who do not meet traditional underwriting criteria.

  • Nonprofit 501(c)(3) or 501(c)(4) organizations including community development corporations, faith-based institutions, credit unions, and social service agencies

  • For-profit entities (e.g. sole proprietorships, corporations, partnerships, LLCs, or LPs organized in the State of Michigan)

  • Individuals

  • Current borrowers of OppFund dollars, provided the outstanding loans are not in any way delinquent or in default

Loan requests must meet two of the following social aspects:

  • Exhibit community control or local self-determination

  • Demonstrate alternative business practices (co-ops, worker-owned, land trust)

  • Provide employment for low-income and/or low-wealth individuals

  • Empower the disadvantaged, including woman- and minority-owned businesses

  • Reinvest in decaying area or reduce blight

  • Use ecologically sensitive approaches

  • Leverage other resources

  • Provide opportunities for partnership, collaboration, and/or cooperative endeavors

Security

In order to protect the interests of our mission, all loans must be secured. Eligible forms of security include:

  • Real Estate

  • Inventory

  • Equipment

  • Accounts Receivable

  • Personal Guarantee

Owner Equity

All loans require an equity investment by the borrower.

OppFund’s Impact in Michigan

  • 85% minority-owned businesses
  • 60% women-owned businesses
  • 66% small business borrowers were unbanked or underbanked, and the majority benefited from technical assistance
  • $2.9 million investment into local economies each year in creating new jobs

Small Business Contact Us

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The pie chart titled "Business & Real Estate Portfolio — Aggregated Industry Exposure" for December 2025 illustrates a total of five industry sectors. Health & Social Services represents the largest portion at 32.5% with a value of $1.30M, followed by Food, Hospitality & Recreation at 25.0% totaling $1.00M. Personal & Business Services and Construction & Trades share equal weight at 17.5% each, both valued at $0.70M. Wholesale & Logistics constitutes the smallest segment of the portfolio at 7.5%, representing $0.30M.
A group of people attending the small business conference

Loan Process

1. Application

The loan approval process begins once an applicant has completed a loan application and provided the required documentation. The prospective loan fees, interest rates, and terms are disclosed so the applicant can begin assessing the total cost of the mortgage.

2. Processing

The information provided by the applicant is reviewed and verified ensuring it is complete and accurate. If items are missing or incomplete a loan officer may contact the applicant to offer additional assistance or request documents.

3. Underwriting

The underwriting staff begins reviewing all submitted documents to ensure the applicant meets the loan program’s requirements. Additional documentation and/or clarifications may be requested during this time. Loan decisions are provided whether it’s a Denial or Conditional Loan Approval and usually take 5-10 days.

4. Pre-Approval

Following conditional approval, OppFund will provide you with a pre-approval letter that you may use as your begin your home search. Once you find a home and your offer has been accepted, title insurance is ordered, and the borrower will have upfront expenses for inspections, appraisals, and earnest money deposits. Once all loan contingencies are met and verified by underwriting an applicant may schedule a closing.

5. Closing

Once the loan has been fully approved and a closing has been scheduled, the applicant prepares a cashiers check for the title company and signs all closing documents. The mortgage loan process is now complete and your homeownership journey begins.

What Small Business Owners Are Saying

We see this loan as helping us in at least two ways: it will allow us to establish a payment history and because of the low interest, we will be able to increase our equity quickly. Both of these allow us to present a clean package to the bank.”
Rick KibbeyCommunity Builders, Inc., 1989
Prior to OppFund, we were going to give this project up. It was just too sporadic where we needed consistency to get it done. We would not be open without OppFund. Alexis and Bryce were so accommodating, meeting where we were. Their communication with me was so easy. There were moving parts to understand but they actually broke down pricing in a simple way, not in bank terms. Even afterwards, they have always been consistent about including me in any upcoming events and supported us. OppFund met and exceeded my expectations. Their services are user-friendly, not complicated at all, and with top-tier communication."
Karmen JohnsonFounder of Marvelous Kids Early Learning Center, 2026
This approval will stabilize the business to ensure upcoming projects are financially secure, all thanks to OppFund team, and many, many kudos to Alexis & Bryce.”
Elisa RodriguezFounder & Owner of M&I Interiors Management
OppFund exists to help the money get out of the way of good work. It exists to find the holes created by larger institutions. With Carlton, to have that committed of a partner, means a lot to us.
Coleman Y.Founder of Micah 6 Community Center, Pontiac, MI
Working with Alexis was a very fast, friendly, and thorough process. This loan allowed us to retain staff throughout. But for OppFund, I would have had to lay off all of my staff.
CharlesExecutive Director, McCree Theatre, Flint, MI
It was a little hard for me to get a loan officer from banks. OppFund was willing to take the gamble and help me out. Alexis would try to answer it to the best of her ability. She smoothed everything out. It was very helpful, reassuring. Without OppFund, I wouldn’t be able to help my community.
TonyaRental Property Management, Grand Rapids, MI
We had no clue when it came to capital. Alexis broke everything down. It doesn't feel like you're dealing with some capital company where they could care less about you. It almost felt like we started this restaurant with Alexis and OppFund.
Raphael and JessicaCo-Owners of Garden District, Grand Rapids MI
We have no words to express our gratitude and level of compassion, while we go through this financial hardship. We know there's a light at the end of the tunnel; with perseverance, anything is possible. Thank you very much.
Elisa R.Founder/Owner of a Grand Rapids construction firm, 2026