Collateral Initiative investment enabling financing from Detroit Development Fund
In 2010, Detroit residents Jerome Brown and Samuel Van Buren started a catering business that served homestyle cooking, but with healthful substitutes. Five years later, they went from operating remotely to a brick-and-mortar location where customers could pick up orders.
Financing Purpose & Date:
This July 2021 investment is helping Detroit Soul expand to a second location with sit down dining. We were able to de-risk this investment by providing additional collateral, enabling this deal to move forward in partnership with Detroit Development Fund, another Michigan Good Food Fund lending partner. Other partners include Detroit Community Loan Fund and Michigan Saves.
Collateral Initiative support includes follow-on businesses assistance: We’re now working with Detroit Soul on marketing including building a new website.
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