The Economic Initiative Fund (EIF) is a revolving loan fund designed to provide low-interest debt financing for business projects in need of gap funding.
Eligible businesses may apply for loans of up to $250,000, not to exceed 10% of the total project cost. Priority is given to high-impact projects that demonstrate meaningful community benefits.This fund was established by the City of Kalamazoo and is administered by the Economic Development Corporation (EDC).
Please note this is not a grant.
View the EIF Brochure(PDF, 3MB)
Who is eligible?
You are eligible for the EIF if you meet the following criteria:
- The project is located in the City of Kalamazoo
- The project creates or retains jobs
- The City tax base is expanded or preserved
- The project shows a return on investment
- The EIF loan leverages private funds and owner equity
- The applicant has no history of city loan default and is current on all taxes, fees, and charges
Special Considerations
Projects that demonstrate a clear positive community impact will get special consideration. These project might include things like:
- The project is located on a brownfield site
- The project creates sustainable, quality jobs paying living wages
- The business offers goods or services that align with the needs outlined in neighborhood plans
- The project has a high-quality building design and landscaping
- The project preserves or reused historic buildings or community landmarks
How To Apply
To apply for an EIF loan, please contact us about your project or business. A member of our team will be happy to assist with your application.
City of Kalamazoo
Economic Development
245 N Rose St Suite 100
Kalamazoo, MI 49007
development@kalamazoocity.org
(269) 337-8000