Four Michigan-based companies receive Funding from the Michigan Microloan Fund Program

Four Michigan-based companies received a combined total of $200,000 from the Michigan Microloan Fund Program.

The funding recipients include:

– Ann Arbor-based Allinnova LLC, which developed a comprehensive corporate capabilities assessment. Its financing will support commercialization of a tool for determining a corporation’s capability to be successful in a strategic partnership with another organization.

– Procuit Inc., based in Ann Arbor, develops educational software engines. Its funding will support commercialization of HomeschoolAdvantage.com, a dedicated portal for the two million children in the United States and Canada whose primary education is at home.

– Birmingham, Mich.-based Solarflex will use its microloan to commercialize organic solar cells, which offers greater efficiency and lower cost compared to others currently on the market.

– Ann Arbor-based The Whole Brain Group, LLC, will use the loan to support its transition from a service-based company to a product-based company. The Whole Brain Group’s flagship product is a subscription-based service that provides accreditation services to life science research institutions.

The Michigan Microloan Fund Program is supported by the Michigan Pre-Seed Capital Fund, the Ann Arbor Local Development Financing Authority and Washtenaw County.

Loans available through the Program range from $10,000 to $50,000 and to qualify for them, companies must be a small business located in Michigan, have the rights (ownership or license) to innovative technology, as well as being privately held.

19/11/2009