EAST LANSING, Mich. – Two small businessmen won a $25,000 grant through Michigan State University FCU’s startUP Challenge to help get their new business off the ground.
The $25,000 prize to CrowdLanding, , an information site and aggregating web application for the equity crowdfunding industry, kicked off the credit union’s new $250,000 micro-loan fund offering small business loans up to $15,000 for local entrepreneurs in surrounding Ingham, Clinton, and Eaton counties.
CrowdLanding was selected as the startUP Challenge winners from thirty-five local entrepreneurs. Entrants submitting applications, business plans, and video pitches, with five finalists presenting their business ideas to the startUP Challenge selection committee comprised of Greater Lansing business professionals.
“We hope the startUP Challenge and MSUFCU’s new startUP Loan Fund will attract more businesses to the area to help grow the local economy,” said Patrick McPharlin, president of the $2.3 billion credit union.