Business financing in Sanilac County.

Small business financing is money you borrow — or receive as a grant — to start, run, or grow a business. In Sanilac County, that might mean a loan to buy equipment for a farm or construction operation, a line of credit to cover slow months, a microloan to open a storefront in Sandusky, or gap funding to renovate a rental property in Lexington.

Financing comes in several forms:

• **Term loans** — You borrow a lump sum and repay it in fixed monthly installments over a set number of years. Good for equipment, vehicles, or real estate.

• **Lines of credit** — A revolving pool of funds you draw from as needed. Good for managing cash flow between jobs or harvest seasons.

• **Microloans** — Smaller loans, typically under $50,000, often offered by CDFIs (community development financial institutions). Easier to qualify for than bank loans.

• **SBA-guaranteed loans** — The U.S. Small Business Administration does not lend directly. Instead, it guarantees a portion of loans made by approved local lenders, reducing their risk so they can say yes more often.

• **Grants** — Money you do not repay. Harder to find, but worth pursuing through state and regional programs.

For most small businesses in rural Sanilac County, the most realistic starting points are local credit unions, CDFIs, and SBA-affiliated community banks — not large national lenders.

Sanilac County's economy is built on agriculture, skilled trades, small retail, light manufacturing, and a growing seasonal tourism sector along Lake Huron. If you work in any of these sectors — or support them as a contractor, supplier, or service provider — there is likely a financing product designed with your profile in mind.

**General eligibility factors lenders look at:**

• Time in business (many programs require 1–2 years; microloans are more flexible)

• Personal credit score (a score above 600 helps, but some CDFIs work with lower scores)

• Revenue and cash flow (can you realistically repay the loan?)

• Collateral (an asset — equipment, real estate, inventory — that can secure the loan)

• Business plan or project description

**ITIN holders:** If you do not have a Social Security number, an Individual Taxpayer Identification Number (ITIN) may still qualify you for financing through select credit unions and ITIN-friendly CDFIs. This is increasingly common in Michigan's agricultural communities, including parts of Sanilac County.

**Agricultural operators:** Farms and farm-related businesses may also qualify for USDA Farm Service Agency (FSA) loans and Michigan Department of Agriculture programs — these run parallel to, not instead of, private lender options.

**Startups:** If your business is under one year old, your options narrow but do not disappear. Microloans, personal business credit, and CDFI pre-business support programs remain accessible.

Do not self-disqualify. A local CDFI or SBA resource partner can tell you honestly what you qualify for after a free conversation — no application required.

Gathering your paperwork before you apply saves time and shows lenders you are organized. The exact list varies by lender and loan type, but here is what most Sanilac County borrowers will need:

**Identity and Legal Status**

• Government-issued photo ID (driver's license, passport, or consular ID)

• Social Security number OR ITIN

• If incorporated or LLC: Articles of Organization/Incorporation, EIN letter from the IRS

**Financial Records**

• Last 2–3 years of personal federal tax returns

• Last 2–3 years of business federal tax returns (if applicable)

• Recent 3–6 months of business bank statements

• Profit and loss statement (even a simple one you prepare yourself)

• Balance sheet (assets and debts)

**Business Information**

• Business license or DBA registration (from Sanilac County Clerk or City/Township)

• Proof of business address

• Brief business plan or description of how the loan will be used

• Quotes or invoices for equipment or projects you plan to finance

**For Real Estate Investors**

• Property address and current value estimate

• Existing mortgage statements

• Rent rolls or lease agreements (if rental income is involved)

**For Agricultural Operators**

• Farm lease or deed

• FSA farm number (if you have one)

• Crop or livestock revenue records

If you are missing some of these, a local CDFI or SCORE mentor can help you build what you need before you apply.