On January 25, 2012, the Michigan Strategic Fund approved an award to Grow Michigan, LLC to operate the Operating Company Initiative (“OCI”) under the Capital Conduit Program.  The OCI is designed to stimulate and support growth, expansion and succession of small businesses in Michigan. To that end, Grow Michigan is pleased to report that with the first Fund it has made 35 investments aggregating $61.7 million which leveraged $320 million in senior debt, 10.6 % Investment Revenue as a % of average invested capital at fair market value, and  provided Community Reinvestment Act Credits to participating Senior Lenders.

In seeking to build upon the success of Grow Michigan’s existing platform and success, Grow Michigan II was established in partnership with First Independence Bank.

In collaboration with FIB, one of the largest and most successful minority owned banks, Grow Michigan II helps bridge the gap between business owners and capital; hence, expanding wealth creation opportunities for companies throughout Michigan.