Known by many nicknames – Motown, the Motor City – and home of the acclaimed Red Wings hockey team, Detroit, Michigan has seen its share of businesses and industries over the years, many of them started by small business owners just like you.
- Detroit is home to 7,817 unique small businesses
- Out of those, 3,561 took out small business loans
- The yearly total small business revenue in Detroit is $41,606,852 (as of 2007)
- Roughly 39% of Detroit small businesses will close within two years of opening
As one of the largest cities in Michigan, Detroit is home to over 7,800 small businesses generating a yearly revenue of nearly $42,000,000, including a variety of industries ranging from retail and manufacturing to healthcare and social assistance. But every small business needs financial assistance sometimes, and in 2012 there were 3,561 small business loans issued to local Detroit businesses. The capital gained from these loans was used to pay for vital needs like equipment & inventory, as well as special projects like expansion. Small business financing is Credibly’s specialty. Our selection of fast, easy, and flexible Detroit small business loan options get your small business the money you need right when you need it.