Laying Foundations For Entrepreneurship

05/01/2012 08:57 am ET

By Dennis Archambault

Initially known as Enterprise Detroit (until last November), the investment group called Detroit Development Fund DDF has provided over 140 loans to Detroit entrepreneurs and community development corporations, totaling more than $16 million -- at a time when few other lenders would risk Detroit developments. The DDF expects to lend around $7 million in 2012.

The DDF has been very important to districts like Midtown, but has been equally, if less visibly effective in helping restore residential housing in the city. In addition, the organization has provided technical support for 145 minority-owned companies in Detroit, with services ranging from accounting and marketing to project management.

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