At a glance
From its website, read 2 Nov 2026Detroit Development Fund is a loan fund based in Detroit, Michigan. Its website describes commercial real estate loans, microloans and small-business loans. Stated loan amounts run from $10,000 to $200,000. Where it lends: City of Detroit, Hamtramck and Highland Park. You can start an application online.
Each point is backed by a quote further down this page. Terms change: confirm with the lender.
How to reach them and apply
| Main | (313) 784-9547 source |
|---|---|
| Apply online | Page with the application link |
| Website | www.detroitdevelopmentfund.com |
| Office (official list) | 3031 W. Grand Blvd, Suite 505, Detroit, MI 48202 |
What their website says about applying
This is your chance to meet one-on-one with a lender, ask questions, review requirements, and complete your applications with expert guidance!
source
Phone numbers and addresses are the ones on the lender's own site and the CDFI Fund list. CDFI Atlas does not take applications.
Rates and terms they state
Read 2 Nov 2026| Loan | Stated | Text on the lender's site (verbatim) | Page |
|---|---|---|---|
| Loans (general) | Term: see their wording | Terms lengths are generally 6 to 24 months | source |
| Loans (general) | Term: see their wording | Loans will generally have repayment terms of 12 to 48 months | source |
| Small-business loans | Term: 2 yr–7 yr | Most loans will have terms of 24 to 84 months, depending on use of funds | source |
As published on the lender's website on that date, not an offer or a quote. Your rate depends on the lender's review. A missing rate means the pages we read did not state one. For consumer loans we repeat a rate only when the lender states it as an APR (annual percentage rate, which includes fees); otherwise read the lender's own wording and ask for the APR.
Who qualifies, in their words
- Minimum time in business: 1 year
Have been in existence for at least 12 consecutive months
source
Only rules the lender's own pages state. Other requirements may apply.
Official record
CDFI Fund list, 21 Oct 2026| Institution type | Loan fund |
|---|---|
| Native CDFI | No |
| Date certified (as listed) | 3 Jun 2026 |
| RSSD ID | — (none listed) |
| Address | 3031 W. Grand Blvd, Suite 505, Detroit, MI 48202 Directions (Google Maps) |
| Website | www.detroitdevelopmentfund.com |
Head officeBranch or officeApproximate (ZIP code area)
Map data © OpenStreetMap contributors, © OpenMapTiles, tiles OpenFreeMap. Head-office points: U.S. Census Bureau geocoder.
Loans and eligibility
Verified from lender site on 2 Nov 2026Read from 7 pages of the lender's website on 2 Nov 2026. Quotes are verbatim. Extracted with AI help from the pages listed below and checked automatically against them. Not reviewed by a person. Confidence: high. Contractor Lines of Credit and Late-Stage Pre-Development loan amounts are not separately listed as product sizes. Terms change — confirm with the lender before applying.
| Product | Amount stated | Text on the lender's site (verbatim, incl. menu labels) | Page |
|---|---|---|---|
| Commercial real estate loans | $50,000 – $200,000 | Construction loan amounts range from $50,000 to $200,000 | source |
| Microloans | $10,000 – $40,000 | DDF Micro Loan amounts range from $10,000 to $40,000* | source |
| Small-business loans | $50,000 – $150,000 | Small business loan amounts range from $50,000 to $150,000 | source |
Loan sizes
Small business loan amounts range from $50,000 to $150,000
sourceDDF Micro Loan amounts range from $10,000 to $40,000*
sourceConstruction loan amounts range from $50,000 to $200,000
source
Range used for the size filter: $10,000 to $200,000
Service area
City of Detroit, Hamtramck and Highland Park
Business must be located in the City of Detroit, Hamtramck, or Highland Park
source
Counties this matches: Wayne County, MI
Borrower focus
Languages
- No non-English service found on the pages we read.
Online application
Yes — the site links to an application. APPLY NOW
source
Pages read (7)
- https://www.detroitdevelopmentfund.com/
- https://www.detroitdevelopmentfund.com/loan-products
- https://www.detroitdevelopmentfund.com/small-business-loans
- https://www.detroitdevelopmentfund.com/ddf-microloans
- https://www.detroitdevelopmentfund.com/construction-loans
- https://www.detroitdevelopmentfund.com/apply-loan-inquiry
- https://www.detroitdevelopmentfund.com/financial-coaching
Questions to ask when you contact them
Based on what their website said when we read it on 2 Nov 2026, and what it left out. Something missing here does not mean they don't offer it: ask.
- What interest rate and fees should I expect on your commercial real estate loans and microloans?
Their website does not state a rate for this. - Do you offer free coaching or help preparing my application?
CDFI certification requires development services, such as training or advice, alongside lending. - What documents will you need from me, and how long does a decision usually take?
Their website describes some application steps (above); ask for the full document list.
Write down the answers, who you spoke to and the date, and ask for the terms in writing before you sign.
CDFI Fund awards
CDFI Fund database, 3 Nov 2026$5.5 million in 4 awards from the U.S. Treasury's CDFI Fund, 2014–2022 (CDFI Equitable Recovery Program; CDFI Program, Financial Assistance; CDFI Rapid Response Program).
| Round year | Program | Amount |
|---|---|---|
| 2022 | CDFI Equitable Recovery Program | $1,522,172 |
| 2021 | CDFI Rapid Response Program | $1,826,265 |
| 2017 | CDFI Program, Financial Assistance | $866,500 |
| 2014 | CDFI Program, Financial Assistance | $1,250,000 |
These are awards and investments made to the institution itself to build its capital and capacity. They are not loans to borrowers, and an award does not mean the lender has money available for a particular loan today.
Source: CDFI Fund Searchable Awards Database, all 12,628 award records (1996–2025), read 3 Nov 2026. Years are the award round as the database lists it. Matched to the official CDFI list by exact name and state; see the method on the About page.
Size of the fund (IRS Form 990)
Fiscal year ending Dec 2023| Total assets | $20.3M |
|---|---|
| Total liabilities | $10.6M |
| Net assets | $9.7M |
| Total revenue | $4.2M |
End-of-year figures from the Form 990 this organisation filed with the IRS for the fiscal year ending December 2023 (tax year 2023; EIN 38-3322605, filed as “DETROIT DEVELOPMENT FUND”), taken from the IRS Annual Extract of Tax-Exempt Organization Financial Data (returns processed in 2024). Figures are self-reported to the IRS, not audited by us, and lag one to two years behind today. The filing shows no amount on the notes-and-loans line; a loan fund can report its loans on other balance-sheet lines, so this is not a loan figure. The lender’s own annual report may show newer numbers. This organisation’s filings on ProPublica Nonprofit Explorer
Filings over time
| Fiscal year ending | Total assets | Net assets | Revenue |
|---|---|---|---|
| Dec 2021 (990) | $19.5M | $8.6M | $2.9M |
| Dec 2022 (990) | $18.2M | $9M | $3.2M |
| Dec 2023 (990) | $20.3M | $9.7M | $4.2M |
Total assets grew 4% from Dec 2021 to Dec 2023. One row per fiscal year in the IRS extracts of returns processed in 2022, 2023, 2024; “—” = the line was empty or zero on that return (a fund can book its loans on other lines).
How it compares
Computed from public data| Measure | This lender | Compared with |
|---|---|---|
| Largest loan its website states | $200,000 | Other loan funds whose website states a maximum: median $275,000. Higher than the stated maximum of 34% of these 184. |
| Total assets, latest IRS Form 990 | $20.3M | Larger than 81% of the 16 other certified loan funds and venture funds in Michigan with a matched Form 990 (median $6.6M). |
How these comparisons were worked out
| Measure | Peer group (this lender left out) | Peers | Where this lender sits |
|---|---|---|---|
| Largest stated loan | other loan funds stating a maximum, nationwide | 184 | higher than 34% |
| Form 990 total assets | certified loan and venture funds with a Form 990, in Michigan | 16 | larger than 81% |
“Larger than X%” = the share of the peer group with a smaller value. Ranks count from the largest. Peer groups use the lender's home state when it has at least 5 peers, otherwise the whole country. Full definitions: methodology.
For comparison, not an offer and not a rating. Past records show what this lender did, not what you would be offered. Peer groups and sources: methodology. Form 990 figures: IRS annual extracts (see the Form 990 section).
Other certified CDFIs in Detroit and Michigan
- Invest Detroit FoundationLoan fund · Detroit, MIEquity / venture investment, Affordable housing development loans, Small-business loansVerified
- Michigan Women's Foundation, TheLoan fund · Detroit, MIMicroloans, Small-business loansVerified
- One Detroit Credit UnionCredit union · Detroit, MIAuto / vehicle loans, Personal / consumer loansVerified
- Prosperus Detroit Micro LendingLoan fund · Detroit, MICredit-builder loans, MicroloansVerified
Work at Detroit Development Fund? Link to this page
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CDFI Atlas is not a lender and does not give financial advice. Inclusion is not an endorsement, and lenders have not reviewed or approved these pages. Disclaimer.