About this programme
Michigan Women Forward is a nonprofit Community Development Financial Institution (CDFI) whose mission is to expand entrepreneurship access and promote economic growth across Michigan. Its Small Business Microloans product lends $2,500 to $50,000 to businesses across the state.
Despite the organization's name, gender is not a factor in qualifying for the loan; it is open to Michigan businesses generally. The loans use flexible underwriting standards compared to a traditional bank, and interest paid on the loans funds future lending by the organization.
How it works
Loans can be used for start-up costs, inventory, equipment, marketing, rent and payroll. They cannot be used to repay existing loans, make investments, purchase real estate, or pay founders, owners or affiliates.
There are no prepayment penalties. A credit score is evaluated as part of underwriting but is not determinative; applicants with a sub-optimal credit score may still qualify. Michigan Women Forward also provides technical assistance alongside the loan.
Who can apply
The business must be legally registered in the State of Michigan and be for-profit; both start-up and established businesses can apply, and the loan is available statewide.
Ineligible applicants include academic institutions, multi-level marketing schemes, lending or investment institutions, and cannabis businesses.
Gender is not a qualifying factor despite the organization's name.
How to apply
- Complete the no-obligation qualification form.
- Pass an initial screening.
- Receive a list of required documentation from Michigan Women Forward.
- Submit the full application along with supporting materials, including a business plan, one year of historical financials, and three years of financial projections covering revenue and expenses.
- Expect 4-6 weeks for review and a decision from the Loan Committee.
Documents you’ll typically need
- Business plan
- One year of historical financials
- Three years of financial projections (detailed revenue and expenses)
Frequently asked
How much can I borrow?
Loan amounts range from $2,500 to $50,000 under the MWF Small Business Microloans product.
Do I have to be a woman-owned business to qualify?
No. Despite the organization's name, gender is not a factor in qualifying for the loan.
What can't the loan be used for?
It cannot be used to repay existing loans, make investments, purchase real estate, or make payments to founders, owners or affiliates.
Will a low credit score disqualify me?
Not necessarily. Credit score is evaluated as part of the review, but applicants with a sub-optimal credit score may still qualify given the flexible underwriting standards.
How long does the review take?
Once you submit a complete application, expect 4-6 weeks for review and a decision from the Loan Committee.
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Reviewed 2026-09-25. Programmes change, so check eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private firm and is not part of any government body.