Grow Michigan II supports Michigan businesses seeking capital to fuel growth, expansion, job creation, acquisitions, equipment purchases, working capital, and other strategic business initiatives.

Funding may be used for a variety of business purposes, including expansion projects, equipment investments, acquisitions, operational growth, and other business needs that support long-term success and economic impact in Michigan.

No. While many borrowers maintain senior lending relationships, Grow Michigan II can work alongside various financing partners.

Financing structures vary based on the borrower, opportunity, and financing needs. Typical loan sizes range from $250,000 to $2.5 million.

Applicants should be prepared to provide company information, a business overview, management team details, historical financial statements, and other supporting documentation requested during the review process.

Typical financial information includes balance sheets, income statements, and other relevant financial records, such as accounts receivable aging reports or equipment listings. Additional information may be requested based on your business and financing needs.

In some cases, business owners may be asked to provide personal financial statements and personal tax returns as part of the underwriting and credit review process.

Applications are reviewed by Grow Michigan’s underwriting team, which evaluates your business operations, financial performance, management experience, market position, and repayment capacity. Information is then presented to the appropriate decision-makers for consideration. If additional information is needed, a member of the Grow Michigan team will contact you.

Review timelines vary depending on the complexity of the request and the completeness of the information submitted. Providing complete and accurate documentation can help expedite the review process.

Yes. Information submitted as part of the application process is used solely for evaluating your financing request and is handled with appropriate confidentiality throughout the review process.

Prospective applicants are encouraged to contact Keith Chulumovich via email at kc@growmichiganfund.com to discuss financing needs, eligibility considerations, and application requirements before submitting an application.