Credit Blind Financing for Entrepreneurs of Color

Black entrepreneurs have experienced a legacy of multigenerational exclusion by traditional financial institutions. To begin addressing this issue, we have created new lending standards to identify practices that were found to have bias and replace them with more racially equitable options.

One such solution is our new Activate Detroit Loan product. We use character-based evaluations that focus on the promise that small business owners of color can deliver to their communities. This affordable and flexible capital does not require a credit score, is fee-free, and has a much-simplified application process. This streamlined process is built to help borrowers move from idea to financing as quickly as possible. We invite you to see many of the key features below.

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Activate Detroit Loan Product Features

• Complimentary pre- and post-loan technical assistance for all borrowers
• No minimum FICO scores. Scores will be blinded on all credit reports. We will request an explanation for derogatory items only.
• No collateral or down payment required
• No loan fees, borrower only pays loan soft costs
• Flexible repayment structures
• Simplified and streamlined document collection process
• Reporting timely payments to the personal credit bureaus to help build credit
• 3% of your loan amount will be accessible as an emergency fund grant

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Helping Small Businesses Achieve Their Dreams