funding & incentives
funding & incentives
Looking for help financing a business, expansion, or development project?
You’re in the right place.
Financing a project rarely comes down to finding one perfect program. Depending on what you’re working on, funding may include conventional lending, specialized loan programs, grants, tax incentives, or other local, state, and federal resources.
Huron County EDC can help you understand what options may be available, identify potential funding gaps, and connect you with the organizations and partners that administer these programs.
Financing a Business?
Start with your lender.
If you’re financing a business startup, purchase, or expansion, your existing financial institution is often the best place to begin. A lender who already understands you and your financial history can help determine what conventional financing may be available.
If conventional financing can’t meet the full needs of the project, additional programs may be available to help close the gap.
Funding Tools
Loans & Gap Financing
Conventional lending isn’t always able to cover the full cost of a project. SBA lending, revolving loan funds, MEDC financing programs, and other state and federal tools may help businesses and developers close financing gaps.
Grants
Grant funding is available for certain projects, but it is typically competitive, purpose-specific, and only one part of a larger financing strategy. HCEDC can help identify opportunities that may align with your project and connect you with the appropriate program.
Tax & Development Incentives
Some business expansions, real estate developments, and redevelopment projects may qualify for tools that reduce project costs or support new investment. Available incentives depend heavily on the project, property, location, and proposed investment.
A Few Things to Know About Incentives
Most programs aren’t designed to fund an entire project.
Economic development tools are often used to close a financing gap or make an otherwise viable project possible.
Eligibility depends on the project.
Location, job creation, investment, property conditions, industry, ownership, timing, and other factors can determine which tools are available.
Earlier is better.
Some incentives must be pursued before a project begins or financial commitments are made. Contacting the EDC early gives us more opportunity to identify potential resources.
State & Federal Programs
Michigan and federal agencies offer financing and incentive programs supporting business growth, entrepreneurship, infrastructure, redevelopment, and other economic development activities.
Rather than creating an enormous directory, the EDC can help identify programs that may be relevant to a specific project. We can connect you to programs at the MEDC, the SBA, USDA Rural Development, and beyond.
Not Sure What Fits?
That’s Normal.
You don’t need to know which program you need before contacting us.
Tell us what you’re trying to accomplish. We’ll help you identify potential resources, understand which partners need to be involved, and determine the next steps worth exploring.