ANN ARBOR – RealKidz, a clothing company aimed at above-average and average-sized girls, has been awarded a loan from the Eastern Washtenaw Microloan Fund, a funding opportunity for start-ups that’s part of the Michigan Microloan Fund Program, which loans from $10,000 to $50,000 per startup. No dollar figure was announced.

RealKidz will use the funding to expand its commercialization efforts through an online social network for families to help them support their daughters and make healthy lifestyle choices.

?RealKidz is a start-up seeking new ways to leverage technology for business expansion, making it an ideal candidate for microloan funding,? said Skip Simms, administrator of the Michigan Microloan Fund Program. ?Some businesses, like RealKidz, need smaller investments to support their evolution, and that?s the type of business growth opportunity that can be dramatically impacted by the Michigan Microloan Fund Program.?

In addition to funding through the Michigan Microloan Fund Program, RealKidz was awarded funding through the Michigan Pre-Seed Capital Fund. RealKidz, a virtual tenant of SPARK East, has received support from Ann Arbor SPARK through its business accelerator services.

The $1.5 million Michigan Microloan Fund Program currently includes three distinct microloan funds. Through the Michigan Microloan Fund Program, $225,000 is available to start-ups via the Eastern Washtenaw Microloan Fund, $1 million is available through the Michigan Pre-Seed Capital Fund, and $275,000 is available for companies located in the City of Ann Arbor via funding from the Ann Arbor/Ypsilanti Local Development Financing Authority (LDFA). The Michigan Pre-Seed Capital Fund monies are from the 21st Century Jobs Fund, administered by the Michigan Economic Development Corporation.

Since July, when the Michigan Microloan Fund Program was established, 22 companies have received a combined total of more of than $600,000 in funding. Microloans available through the Michigan Microloan Fund Program range from $10,000 to $50,000. To qualify, companies must be a small business located in Michigan, have ownership or license to innovative technology, and be privately held.

For more information about the Ann Arbor SPARK microloan program, click on click on AnnArborUSA.Org

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