Capital Access Program (CAP) (Michigan)
Last modified on February 12, 2015.
|Applies to States or Provinces||Michigan|
|Name||Capital Access Program (CAP) (Michigan)|
|Policy Category||Financial Incentive|
|Policy Type||Loan Program|
|Affected Technologies||Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Wave Energy, Wind energy|
|Program Administrator||Michigan Economic Development Corporation|
| Last Substantive Modification
The Capital Access Program (CAP), utilizes public resources to generate private financing for small business in Michigan seeking access to capital. Funding from the Michigan Strategic Fund is joined with private banking participants to enable more favorable loan access for small businesses. To date, the private/public ratio of funding has been approximately 28 to 1. Eligible businesses must have no more than 500 workers and the maximum loan amount which may be enrolled in CAP is $5 million.
|Contact Name||MEDC Customer Assistance Center|