Huntington Bank Backing Microloans to Small Businesses in Outstate Michigan

Thanks to a $5 million line of credit from Huntington Bank, microloans up to $250,000 will be available to small businesses and startup companies in outstate Michigan over the next five years. The $5 million in funds was given to Opportunity Resource Fund, an established Michigan micro-lender.

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Expanding the "Pure Michigan Micro Lending Initiative"

The announcement by Huntington Bank demonstrates the expanding of the Pure Michigan Micro Lending Initiative into Western Michigan, including Grand Rapids, Holland and Muskegon. To facilitate the additional funding, Opportunity Resource Fund will open an office in West Michigan and work with Grand Rapids Opportunity for Women (GROW), Michigan Small Business Development Centers, and LINC Community Revitalization of Grand Rapids.

Huntington West Michigan President John Irwin stated, "Small business owners continue to be the backbone of economic growth in our communities." "We're trying to make sure every business has the best opportunity to succeed."

Huntington has implemented similar funding initiatives in Cleveland and Columbus, Ohio.

Read more by visiting www.mlive.com/business/west-michigan/index.ssf/2015/07/micro-loans_for_small_business.html