Bill > HB4998

This bill creates the Michigan Nonprofit Development Center Program within the Michigan Strategic Fund to support small, community-focused nonprofit organizations. The program will provide two key services: technical assistance and interest-free micro bridge loans. For technical assistance, the fund will establish an information exchange and offer individualized consulting to qualifying nonprofits on topics ranging from budgeting and financial management to board development and grant writing. The micro bridge loan component allows qualifying nonprofits to borrow up to $25,000 when they have been awarded a government grant but have not yet received the funds, with the loan to be used only for operating expenses and repaid within 90 days of receiving the grant. To be eligible for these services, a nonprofit must be tax-exempt, have annual revenues under $1 million, have existed for at least 5 years, and primarily serve areas like health, education, environment, agriculture, arts, or social services. The program will be administered by the Michigan Strategic Fund, potentially in collaboration with a statewide nonprofit membership organization, and will require annual reporting on its activities and impact. The bill is tied to another piece of legislation and will only take effect if that companion bill is also enacted.

Government Affairs

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-HB-4998