A new revolving loan fund could help finance projects for small businesses in Antrim, Charlevoix, Cheboygan, and Emmet Counties.
Northern Lakes Economic Alliance received federal funding to establish the program.
Chris Bauer, the community and economic development manager for NLEA, says the program will work in tandem with a borrower’s primary bank.
"If a particular project cannot receive full funding from a financial institution, we can step in and basically fill that gap to help the project happen," Bauer said.
Bauer said the fund will help lower businesses’ monthly obligations to pay debt. He added businesses will be able to apply for the fund by the beginning of the new year.
