BRIGHTON, Mich.–Like many CUs, Lake Trust Credit Union will be the title sponsor of an enormous event set to take place here next week—but it is also doing something few others have done—it has created a targeted microloan program for businesses participating in the event.
On the weekend of Sept. 19-21, the Destination Stars Hollow event is expected to draw more than 40,000 people. As the CU Daily reportedearlier, the multi-day themed event transforms the city of Brighton’s Main Street into fictional TV town Stars Hollow from the show the Gilmore Girls, with local businesses transforming to become iconic locations from the show, such as Luke’s Diner.
The Gilmore Girls ran on the WB Network from 2000-07 and has also been available on Netflix. The fictional Stars Hollow was set in Connecticut but the event takes place in Michigan because Brighton resembles the TV town.
The event also features numerous “immersive experiences,” according to Lake Trust.
Product Targets Cash-Flow Needs
Beyond putting its name on the event as title sponsor, Lake Trust said it created a microloan for businesses involved in the event to help them manage the cash flow required to stock up on inventory and prepare for the increased traffic.
“After welcoming over 40,000 visitors from across the country during its 2024 debut, it became clear that a title sponsorship alone isn’t enough to guarantee the event’s success,” said Nicole Paine, business development manager at Lake Trust. “As participating businesses gear up for this high-traffic occasion, we recognized that many may need additional support and working capital to stock up on essential supplies. To help meet this demand, we’ve gone beyond sponsorship by encouraging event participants to apply for our existing microloan program—designed to provide fast, flexible funding to small businesses. This initiative ensures our local entrepreneurs are well-equipped to thrive during one of the community’s most vibrant and high-impact events.”
Product a Result of Experience
The idea for the targeted microloan came from the credit union’s experience in offering such a product to small businesses since 2019 and its understanding of the “financial gaps” many small businesses can encounter, according to Paine.
“A microloan can bridge the gap between where your business is today and where you want it to grow. Lake Trust’s microloan program offers fast access to the capital you need, with a streamlined lending process that’s typically quicker than traditional small business loans,” said Paine. “It’s a smart, flexible solution designed to help them move forward—without delay.”
The loan is available up to $50,000 with terms up to 60 months. Paine said it is available to any business that wishes to apply.
Why Not Turn to Plastic?
Why would a small business owner not turn to a credit card for financing?
“While a credit card can be useful for certain business expenses, it’s not always the best fit for every need,” Paine answered “Lake Trust’s microloan offers a more affordable alternative, with lower interest rates and flexible options tailored to your business.”
Paine said businesses have the option of choosing from among four loan types: line of credit, secured, unsecured, or vehicles.
“It’s a smarter way to access the capital they need to grow, without the limitations of traditional credit,” according to Paine.
Paine said Lake Trust has been working with the participating businesses to make them aware of the loan program, as well as with organizers of the event to spread the word.
The Credit Union Difference
According to Paine, both the microloan program and its support of Destination Stars Hollow “embody what makes the credit union difference so powerful.”
“These initiatives create a ripple effect that extends far beyond individual businesses,” Paine said. “When local entrepreneurs succeed, they fuel economic growth, energize our downtown, and open the door to new job opportunities—building a stronger, more vibrant community for everyone.”
Below, Lake Trust Credit Union.
