Lake Trust Credit Union ($2.6B, Brighton, MI) is making a major impact in small business lending through a microloan program that tailors financial solutions to help entrepreneurs in Michigan achieve their goals.
A CDFI since 2018, Lake Trust’s microloan offerings include business vehicle loans, signature loans, lines of credit, secured loans, and business credit cards — all designed to address critical funding gaps in small business lending. Since launching these programs in 2019, Lake Trust has provided more than $22 million in loans, fostering the growth of local entrepreneurs like custom bow-tie maker Nikhil in Detroit and Marcus Leslie, whose cheesecakes transitioned from farmers’ markets to major retailers.
By simplifying the lending process and building relationships within the community, Lake Trust continues to empower small businesses to thrive.
Watch the video to hear more inspiring stories and learn about the credit union’s innovative approach to advancing Michigan’s entrepreneurial spirit.
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