Loan program to preserve Pfizer assets launched
The Company Formation and Growth Fund is a new loan program designed to preserve assets, mostly employees, from the Pfizer reorganization. It is a low interest loan offered to life science companies in the state who will be hiring former Pfizer employees in the upcoming year. For each person hired a qualifying company can ask for $50,000, up to $500,000 in an unsecured low interest loan. There is a month long approval process that will determine loan approval and final amount.
More information about the program is at http://www.annarborspark.org/business-resources/business-growth-expansion/company-formation-and-growth-fund/
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