A Bank For Jobs In Michigan

This week, Charter One Bank and Michigan Gov. Jennifer Granholm had some great news for businesses and would-be workforce members in the state.

Charter One Michigan, a subsidiary of Citizens Financial Group, is set to provide low-cost loan money (at a rate of 4.99% — or 2.51% below the current prime rate of 7.5%) to creditworthy business clients that are expanding operations in Michigan or creating new jobs in the state.

The 2-year, $200-million low-cost loan program which requires borrowers to create at least one full-time job for every $40,000 borrowed, is intended to bring 5,000 new jobs to Michigan.

For details, click on:
http://www.freep.com/apps/pbcs.dll/article?AID=2006602230497

(Many thanks to Cathy Burwell of the Helena Chamber of Commerce for passing this along. Russ)