Loans and grants are available for business expansion and development in Lenawee County, said the Lenawee Economic Development Corporation (LEDC) director Jim Van Doren.
Van Doren spoke to members of the Morenci Area Chamber of Commerce last month to give an update on the development organization.
Financial opportunities for entrepreneurs and business owners includes:
• Business Retention, Expansion and Attraction (BREA) funding;
• Business Revolving Loan Fund;
• Brownfield Redevelopment Authority for help with developing polluted projects.
The LEDC works with various economic development organizations including South Central Michigan Works, Michigan New Jobs Training Program, Michigan Manufacturing Technology Center, and the Michigan Small Business and Technology Development Center.
Van Doren said the state economic development department no longer deals with local groups on a county-by-county basis. Now there are six multi-county regions. Lenawee is in a group that includes Washtenaw County.
There were initial concerns about joining in a group that's heavily focused on the Ann Arbor area, Van Doren said, but it's turned out to be an excellent partnership with many strong resources available.
Van Doren spoke about new funding opportunities through the U.S.D.A. that offers loans to small businesses—an effort that fits into the LEDC philosophy of “taking good ideas and making them better.”
More information about the agency can be found at theledc.org.