Manufacturing Gap Financing

Eastern Washtenaw County - Gap Financing

 

The Gap Financing Pilot Program provides additional funding to manufacturing companies that wish to expand their operations. It is intended to supplement company investment and bank financing for eligible expansion costs including the purchase of equipment or inventory, facility enhancements and other company expansion expenditures not to include working capital or refinancing. Gap financing can be provided in the form of a grant or a no interest loan.

 

Companies must meet the following criteria before applying for funding:

    • Be located in eastern Washtenaw County, Michigan (east of US 23 has been selected for this program due to the loss of manufacturing jobs in the area).
    • Expand a product line or create a new product line
    • Have the rights (ownership or license) to the expanded or new product.
    • Create new jobs in Washtenaw County.

 

For more information, contact Todd VanAppledorn, MI CEED, at tvanappledorn@miceed.org to discuss company eligibility, funding available and application process and submittals.

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