Battle Creek provides what you need for business success. Our revolving investment fund, technology accelerator, and equity capital fund were created specifically with your needs in mind. This section also includes information on Fort Custer Industrial Park, W.K. Kellogg Airport, Downtown, business resources, and Battle Creek Unlimited.
The world-class Fort Custer Industrial Park hosts businesses from the United States, Japan, Germany, Austria, and Denmark. Adjacent W.K. Kellogg Airport serves as a catalyst for Battle Creek's fastest growing economic sector. The centrally-located Customs Port of Entry conveys import efficiencies and convenience.
Downtown Battle Creek gets your feet tapping to weekly music festivals and outdoor entertainment. An arts and industry council connects the arts not only to exhibit venues, but also to the public schools and the workplace.
An OC-48 optical Ethernet fiber ring connects all portions of the city, providing a robust telecommunications infrastructure. |
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| DIRECT INVESTMENT FUND INTRODUCTION
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The Battle Creek Unlimited Direct Investment Fund’s primary purpose is to recruit businesses to our vibrant community, and to help established businesses grow to their full potential. The fund is used to support the economic development efforts of the City of Battle Creek and its designated economic development agencies. We offer funding for both loans and equity investments. The Direct Investment Fund offers investments from $30,000 to $500,000, and will provide up to 50% of the total capital in any deal. We know that getting things up and running as quickly as possible is important to you, and the typical time frame for processing investment requests is approximately 90 days. But, please be aware that due diligence requirements may extend the processing time past the 90 day average. Loan and investment approvals are made by a seven member loan committee which meets monthly. Contact Lisa Albrant for additional information. |
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| DIRECT INVESTMENT FUND "SMALL PRINT"
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- A typical loan prospect is an individual or business that has received a loan approval from a traditional lending institution but needs further funding to fill the “gap” to complete their project.
- The Direct Investment Fund could extend a loan to an applicant that is unable to obtain funding through a lending institution.
- The Direct Investment Fund dollars are not to be considered grant dollars.
- All loans require collateral and loans to closely held corporations require the personal guaranty of the principal owner.
- Interest rates charged to borrowers are set in consideration of maintaining fund balances and are commensurate with the anticipated risk.
- Approvals include loan amount, term, interest rate and signing requirements.
- Rate and terms are typically comparable to those granted by traditional lending institutions.
- Equity investments involving a significant ownership of the company by Battle Creek Unlimited, may require a seat on the company’s board of directors.
- Companies will be allowed to repurchase their equity positions at pre-determined rates.
- Contact Lisa Albrant for additional information.
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| DIRECT INVESTMENT FUND REQUIREMENTS
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All applicants are required to submit the following:
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Business plan with pro forma income and expense detail
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Completed applicant forms and historical financial information (2-3 years), if applicable
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Copies of income tax statements
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Personal financial statements
Authorization to conduct a background and credit check is a requirement of all applicants. |
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| LOAN QUALIFICATION DOCUMENTS
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