The Detroit Development Fund (DDF) has been a trusted partner in the local entrepreneurship ecosystem providing access to capital for over 25 years. Our journey began in 1996 as ShoreBank Enterprise Detroit, servicing the city’s east side community. Today, we are a certified nonprofit Community Development Financial Institution (CDFI) with expanded financial products and services that stretch across the city of Detroit with our Microloans also including the cities of Hamtramck and Highland Park, Michigan. To date DDF has provided over $85 Million in Small Business Loans to Detroit entrepreneurs.
Rooted in Relationships
Our approach is centered on relationship building and customer empowerment. We are not just motivated by the number or value of approved loans, but motivated by their long-term success and sustainability. We are intentional about increasing the capacity of entrepreneurs, developers, building owners, contractors, and subcontractors through our loan and technical assistance programs. We prepare and empower entrepreneurs for growth and the next stage of their business by removing barriers.
Our focus on economic and racial equality has been unwavering with over 90% of our loans made to Black-owned businesses, entrepreneurs of color, and women-owned businesses. As a result, in 2016 with the support from the W.K. Kellogg Foundation and JP Morgan Chase, the Entrepreneurs of Color Fund (EOC) was launched to further provide additional capital to Detroit business owners of color who may have experienced financing barriers at traditional banks. Since the launch of EOCF, DDF has provided over $18 Million in loans to BIPOC entrepreneurs in underserved communities.