Eligibility & Terms
Ebiara support focuses on emerging Black and Brown-owned development firms with projects within Detroit’s city limits.
Firm Eligibility
Development firms and developers looking to have economic impact in city of Detroit
Firms at least 51% owned by BIPOC
Developers interested in organizational scalability
Commitment to mentor and support less experienced developers through coaching and guidance, hiring emerging developers and/or reinvesting in the fund/other projects
1
Increase operating capacity
2
Build transaction pipeline: acquisition, pre-development, and financing for rehabilitation and new construction
Investments are made to the development firm for two eligible uses
LOAN TERMS
LOAN AMOUNT
$50,000-500,000 into the firm
Uses
Pre-development, acquisition, and working capital
Development Type
Commercial, multi-family, and industrial/warehouse
Cost of Capital
6.5-10%
Fees
1-2%
Term
Up to 5 years
Collateral
A pledge of business assets in addition to guarantees of the principals
Geography
City of Detroit
