OAKLAND THRIVE LENDER READINESS PROGRAM ASSESSMENT
Program Overview:
OAKLAND THRIVE Lender Readiness Program is designed to empower entrepreneurs with the knowledge and resources needed to secure capital financing successfully. The program consists of three core components:
Who Should Apply
For Profit businesses meeting the following criteria are encouraged to apply:
⦿ Operational businesses seeking to expand or stabilize their operations.
⦿ Micro-businesses requiring support to overcome financial challenges and achieve growth.
⦿ Active Expansion Mode/Enterprise businesses aiming to scale their operations and enter new markets.
⦿ Businesses with limited credit history or struggling to access traditional financing options.
⦿ Companies lacking financial management systems or with incomplete business plans.
⦿ Organizations demonstrating a clear purpose and plan for funding, willing to engage in financial coaching and planning.
Eligibility Requirements
To be eligible for the OAKLAND THRIVE Lender Readiness Program, businesses must meet the following criteria:
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⦿ Must be registered as a legal entity in good standing with the State of Michigan Department of Licensing and Regulatory Affairs (LARA) for a minimum of 2 years.
⦿ Must be located in Oakland County or show proof of a business operations address in Oakland County.
⦿ Must demonstrate a clear purpose and plan for funding, with intentions to secure capital financing within 3-12 months.
⦿ Must be committed to actively participating in the program's activities, including financial coaching, lender readiness tracks, and cohort series.
⦿ Must complete this OAKLAND THRIVE Lender Readiness Assessment to qualify for participation in the program.
Location Requirements
The OAKLAND THRIVE Lender Readiness Program serves businesses located within Oakland county.
Intended Outcomes
The program aims to achieve the following outcomes for participating businesses:
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⦿ Enhanced financial literacy and management capabilities.
⦿ Strengthened business plans and financial readiness.
⦿ Improved access to capital financing options, including SSBCI, CDFI, and local/regional banks.
⦿ Increased success rates in securing capital funding.
⦿ Sustainable business growth and expansion.
⦿ Contribution to economic development and job creation within the region.
⦿ By addressing the specific needs of businesses and providing tailored support, the OAKLAND THRIVE Lender Readiness Program aims to empower entrepreneurs and drive economic growth across diverse industries and geographical locations.
Business Profile
This section gathers essential details about your business to establish its identity and contact information. Please provide the official name of your business as well as its complete street address, including city, state, and ZIP code. Additionally, specify a primary contact phone number and email address. These details are crucial for establishing your business's formal records and will be used
exclusively for official communications and documentation purposes. Accurate and complete information is vital for efficient service and support.
The NAICS code is a standardized system used to classify businesses into specific industry categories. If you are unsure of your company's NAICS code, you can find it by visiting the official NAICS website at https://www.naics.com/search/ . Simply enter keywords related to your business activities, and the website will provide you with the corresponding NAICS code(s).
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Please provide the primary NAICS code that best represents your company's primary line of business