DETROIT (AP) — Startup companies can compete for $1 million in interest-free loans as part of the Quicken Loans Detroit Demo Day.

Businesses have through April 14 to apply online.

The Detroit-based mortgage lender says 100 companies will advance to the second round of the competition. Those companies and their business plans will be judged by a group of city business leaders.

Twenty finalists — in the city or willing to move to Detroit — will be invited to make presentations or give demonstrations May 25 before a panel of nationally recognized business leaders at the Gem Theatre downtown. The top eight will receive $50,000 to $200,000.

Quicken Loans Chair Dan Gilbert says “the most creative, innovative, energy-filled growing small businesses in the city” are being sought for the competition.




© Copyright 2017 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.


Leave a Reply

Please log in using one of these methods to post your comment:

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

More From CBS Detroit

Best Cooking Classes In DetroitLearn how to whip up some wonderful dishes while having fun!
5 Bucket List Items To Cross Off In DetroitThe “must-do” items for anyone making a trip to Detroit.

Watch & Listen LIVE