Investment in small businesses by Oakland County and the U.S. Small Business Administration increased by 50 percent in 2012, a sign, says County Executive L. Brooks Patterson, that “we have turned a corner” economically.
The investment of over $38 million came from the Oakland County Business Finance Corp., which works with the U.S. Small Business Administration to determine projects that have a promise of success but need a financial boost to get there.
The OCBF Corp’s financial backing went to 39 projects across the county and created hundreds of jobs.
In 2011, the corporation awarded # Since it began its work under the SBA’s Certified Development Company program in 1982 more than 433 loans have been funded, $491 million invested and 17,800 jobs created.
Source: John Huber, marketing and communications officer for the Oakland County Department of Economic Development and Community Affairs
Writer: Kim North Shine