Traverse City Chamber Announces New USDA Loan Program

In 2013, the Traverse City Area Chamber of Commerce was able to help 14 area businesses grow and expand thanks to their many financing options.

$350,000 was loaned last year alone.

Chief Operations Officer Laura Oblinger says it's a good sign for the area's economy if businesses are asking for money to expand their operations.

This year the chamber has even more to be optimistic about.

In 2014 businesses throughout the five county area, including Leelanau, Antrim, Benzie, Kalkaska, and Grand Traverse are eligible to apply for a loan through the U.S. Department of Agriculture Rural Development.

With some of the chamber's own capital, this sum totals $460,000 of money ready to help area businesses expand.

This new financing option is part of the chamber's new Intermediary Relending Program.

We've included a link to the chamber's website where more information can be found about the IRP and other financing options.