BFAP Loan Infomation
The Lansing Economic Development Corporation (LEDC) Business Financing Assistance Program (BFAP) is intended to stimulate business development and create positive economic benefits in the City of Lansing. Examples of positive benefits include:
- Rehabilitation or redevelopment of existing properties including environmental remediation and elimination of blight
- Creation of jobs
- Leverage and attraction of private investment and personal equity funds into the project
- Positive impacts on Lansing employment and property values
- Priority for creation and acceleration of businesses with high economic growth potential
- Diversification of the Lansing economy
- Critical improvements to the image and perception of Lansing
Energy Efficiency Loan Information
From funds secured from the U.S. Department of Energy (DOE) allocated under the American Recovery and Reinvestment Act (ARRA), the Lansing Economic Development Corporation and Mayor Bernero's Go Green! Initiative Office have partnered to create an Energy Efficiency Revolving Loan Fund (EERLF) with the intent to solicit loan applications from businesses that can demonstrate the need to implement innovative renewable energy and energy efficiency projects. The purpose of the EERLF is to stimulate the creation and retention of jobs, save energy, increase energy generation from renewable energy and reduce greenhouse gas emission.
Grocery Store Challenge Loan Information
The neighborhoods surrounding the Colonial Village Shopping Center have been without a local grocery store since the closure of the L&L grocery in late 2010. Following the store closure, the LEDC and the South Lansing Community Development Association (SLDCA), with funding from the Ingham County "Power of We" Consortium, have worked with the adjacent neighborhoods in an effort to attract new businesses, especially a new grocery or produce store, to the shopping center.
The LEDC loan funds will be used to target grocer and produce businesses and assist in providing the credit necessary for success. The $25,000 loan fund will originate from the LEDC's Business Finance Assistance Program (BFAP) and will provide financing to any qualified grocery store, produce or retail tenant before May 1, 2012.
Please use our BFAP loan application and guidelines above, or contact Andrea Ragan at (517) 483-4041 or email@example.com for more information.