At a glance
From its website, read 2 Nov 2026Prosperus Detroit Micro Lending is a loan fund based in Detroit, Michigan. Its website describes credit-builder loans and microloans. Stated loan amounts run up to $50,000. Where it lends: Detroit, Hamtramck, Highland Park, Inkster or Wayne County. It says it considers borrowers with low or no credit history. You can start an application online. It serves borrowers in Spanish.
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) 586-0655 source |
|---|---|
| info@prosperusdetroit.org source | |
| Apply online | Page with the application link |
| Website | www.prosperusdetroit.org |
| Office (official list) | 950 Selden Street, Suite 330, Detroit, MI 48201 |
What their website says about applying
We will review your submission and required documents, then we will contact you to learn more.
sourcePlease ensure you are providing a number and email that will be best to reach you.
sourceWe accept applications on a rolling-basis.
sourceApplicants missing required documents may receive additional help during the application process.
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 |
|---|---|---|---|
| Credit-builder loans | Term: see their wording | 12-month Credit Builder Loan Program | 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
- No or thin credit history considered
limited, inactive, or rebuilding credit
source - Low or damaged credit considered
limited, inactive, or rebuilding credit
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) | 12 Jul 2025 |
| RSSD ID | — (none listed) |
| Address | 950 Selden Street, Suite 330, Detroit, MI 48201 Directions (Google Maps) |
| Website | www.prosperusdetroit.org |
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: medium. The Spanish application page shows a form-unavailable error, and the state of Michigan is not named as a service area. Terms change — confirm with the lender before applying.
| Product | Amount stated | Text on the lender's site (verbatim, incl. menu labels) | Page |
|---|---|---|---|
| Credit-builder loans | — | 12-month Credit Builder Loan Program | source |
| Microloans | up to $50,000 | loans up to $50,000 | source |
Service area
Detroit, Hamtramck, Highland Park, Inkster or Wayne County
You must have a business located in Detroit, Hamtramck, Highland Park or Inkster, or Wayne County.
source
Counties this matches: Wayne County, MI
Borrower focus
- Immigrants
we prioritize people from low-income communities who identify as Black, indigenous, and/or other people of color including immigrants
source - Low- and moderate-income / underserved
we prioritize people from low-income communities who identify as Black, indigenous, and/or other people of color including immigrants
source - Minority / BIPOC
we prioritize people from low-income communities who identify as Black, indigenous, and/or other people of color including immigrants
source
Languages
- Spanish
Revisamos las tomas de préstamos de forma continua.
source
Online application
Yes — the site links to an application. Apply using the
source
Pages read (7)
- https://prosperusdetroit.org/
- https://prosperusdetroit.org/training/
- https://prosperusdetroit.org/lending/
- https://prosperusdetroit.org/apply-lending/
- https://prosperusdetroit.org/aplicar-prestamo/
- https://prosperusdetroit.org/apply-lending/?tfa_next=%2Fforms%2Fresume%2F4814770
- https://prosperusdetroit.org/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.
- Is there a minimum loan amount?
Their website gives a maximum ($50,000) but no minimum. - What is the APR, including fees, on your credit-builder loans?
Their website does not state an APR. The APR includes fees, so it is the number to compare. - What interest rate and fees should I expect on your microloans?
Their website does not state a rate for this. - Do you need collateral, a business plan or a minimum time in business?
Their website does not say what they require. - 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$1.6 million in 6 awards from the U.S. Treasury's CDFI Fund, 2020–2024 (5 programs).
| Round year | Program | Amount |
|---|---|---|
| 2024 | CDFI Program, Financial Assistance | $550,000 |
| 2022 | CDFI Equitable Recovery Program | $500,000 |
| 2021 | CDFI Rapid Response Program | $200,000 |
| 2021 | CDFI Program, Technical Assistance | $125,000 |
| 2021 | Small Dollar Loan Program | $135,000 |
| 2020 | CDFI Program, Technical Assistance | $125,000 |
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 | $4.2M |
|---|---|
| Total liabilities | $1.1M |
| Net assets | $3.1M |
| Total revenue | $1.8M |
| Notes and loans receivable, net (Part X line 7) | $1.7M |
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 46-2997666, filed as “PROSPERUS DETROIT MICRO LENDING”), 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 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 | Notes and loans receivable |
|---|---|---|---|---|
| Dec 2021 (990) | $2.3M | $2.2M | $2M | $949,227 |
| Dec 2022 (990) | $3.6M | $3.5M | $3.3M | $1.2M |
| Dec 2023 (990) | $4.2M | $3.1M | $1.8M | $1.7M |
Total assets grew 82% from Dec 2021 to Dec 2023; notes and loans receivable rose 83%. 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 | $50,000 | Other loan funds whose website states a maximum: median $275,000. Higher than the stated maximum of 7% of these 184. |
| Total assets, latest IRS Form 990 | $4.2M | Larger than 25% of the 16 other certified loan funds and venture funds in Michigan with a matched Form 990 (median $8M). |
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 7% |
| Form 990 total assets | certified loan and venture funds with a Form 990, in Michigan | 16 | larger than 25% |
“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
- Detroit Development FundLoan fund · Detroit, MICommercial real estate loans, Microloans, Small-business loansVerified
- 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
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