May 1, 2024 is the application deadline for the SEDC Memorial Cup Small Business Lending Program. Local business owners have just a few more days to turn in their application to receive up to $5,000 for inventory and equipment upgrades prior to this spring’s 2024 Memorial Cup scheduled for May 24-June 2. Applications will be accepted through May 1 and can be turned in at the SEDC Office at City Hall, 1315 S. Washington Avenue Suite 110.
The SEDC Memorial Cup Lending Program loan funding can be used by local businesses to purchase inventory and equipment. The application requirements for the program are not as comprehensive as the traditional SEDC loans. Loan applicants are required to provide an executive summary that includes the use of funds and one year of financial history. Business owners who are awarded funding are subject to term limits up to 36 months.
“At the city, we are determined to provide all the support we can for our small businesses to give them the best opportunity for success during the Memorial Cup. We want to thank all local business owners who have applied. We’re thrilled that we could offer this loan opportunity and excited to see these enhancements and improvements take place in our local businesses,” says Kisha Smith, Saginaw Economic Development Corporation Coordinator for the City of Saginaw.
For more information on SEDC Small Business Lending Programs, please contact Kisha Smith at (989) 759-1395 or visit the SEDC website at www.saginaw-mi.com/sedc.
