January 29, 2025
Fast Track to Lending Program Offers $250,000 in Funding to Qualified Businesses
American 1 Credit Union and Lean Rocket Lab Partner to Fuel Business Growth in Jackson, Lenawee, and Hillsdale Counties
JACKSON, Mich., Jan. 29, 2025 – Local entrepreneurs have a powerful new resource to grow their businesses with the launch of the Fast Track to Lending program, a collaborative initiative developed by the Lean Rocket Lab and American 1 Credit Union. This program provides a streamlined, step-by-step pathway for small businesses in Jackson, Lenawee, and Hillsdale Counties to secure funding and achieve sustainable growth.
The Fast Track to Lending program is tailored to businesses that have been in operation for at least one year. With funding amounts of up to $250,000 and terms of up to 84 months at competitive interest rates, entrepreneurs can access the capital they need for various purposes, including franchise fees, equipment acquisition, inventory, or tenant improvements. This program excludes passive real estate investments to ensure funds are used for active business growth.
“We are thrilled to offer Fast Track to Lending to our local entrepreneurs," said Alex Masten, director of entrepreneurial services at the Lean Rocket Lab. "Securing funding is one of the biggest hurdles small businesses face, and this program is designed to remove barriers and provide meaningful support. When our small businesses thrive, our entire community benefits, and this initiative is a step toward fostering that success."
The Fast Track to Lending program is designed with simplicity and support in mind. Business owners begin by completing a short, user-friendly intake form that gathers essential information about their business. Once submitted, the intake form is reviewed by a team of experts from the Lean Rocket Lab and American 1 Credit Union. Entrepreneurs will then receive step-by-step guidance throughout the process to ensure their unique needs are met. If approved, funds are disbursed, empowering businesses to invest in their next stage of growth.
“American 1 is proud to partner with Lean Rocket Lab on the Fast Track to Lending program," said Martha Fuerstenau, president and CEO of American 1 Credit Union. "This initiative underscores our commitment to empowering small businesses by providing them with the financial tools and resources they need to succeed. When local businesses grow, our communities flourish, and we are excited to play a role in driving that positive impact."
As part of the program, the Lean Rocket Lab and American 1 Credit Union will host webinars and an in-person information session to help business owners learn more about the program, its benefits, and how to apply. These events are designed to provide a deeper understanding of the resources available and answer any questions entrepreneurs may have about the lending process. The first webinar is scheduled for Tuesday, February 11, 2025, from 9-9:30 a.m. To register, visit: https://www.eventbrite.com/e/local-program-overviewfast-track-to-lending-info-session-tickets-1144659249629?aff=oddtdtcreator.
For more information about Fast Track to Lending, or to begin the application process, visit leanrocketlab.org/fast-track-to-lending.
About Lean Rocket Lab
Lean Rocket Lab is a non-profit organization dedicated to empowering entrepreneurs, startups and small businesses to grow and thrive. Through its comprehensive programs and services, Lean Rocket Lab provides entrepreneurs with the tools, resources, and support they need to succeed.
About American 1 Credit Union
American 1 Credit Union is a not-for-profit, member-owned financial institution serving over 63,000 members in five Michigan counties. Since 1950, American 1 has been committed to providing personalized financial services and building strong relationships with its members. With a focus on community engagement and financial education, American 1 actively supports initiatives that empower individuals and promote economic growth in the region. As a partner, American 1 Credit Union leverages its financial expertise and lending resources to provide valuable support to small businesses through the Fast Track to Lending program. American 1's commitment to financial inclusion and its dedication to small business success will be instrumental in ensuring the program's effectiveness and impact in Jackson, Hillsdale, and Lenawee counties.
MEDIA CONTACT:
Devon Bradley Roof
Epic Blue Media
517-474-1573
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