"As with small businesses, which according to the U.S. Small Business Administration consist of organizations with 500 or fewer employees, micro-businesses play a significant role in Michigan.

According to Michigan Local Initiatives Support Corporation, 87 percent of all businesses in Michigan are micro-businesses, 17 percent of all jobs are provided by micro-entrepreneurs, and there are a total of 750,369 micro-businesses in Michigan.

However, many face challenges, especially those owned by people of color in urban areas. Some of these challenges include lack of access to adequate equity and debt financing, to mentors and individuals with experience in managing businesses and to knowledge of growth sectors in the economy."


From The Detroit News: http://detnews.com/article/20110209/...#ixzz1DTBXiLlW


Interesting concept. What would you do with a loan of $35k?