Entrepreneurs looking to launch their businesses in severalMichigan counties may have the opportunity to do so with the helpof Michigan State University Federal Credit Union.

The $2.25 billion credit union in East Lansing, Mich., iscalling on persons to compete in its startUP Challenge.

The winner will be awarded up to $25,000 to jump-start his orher business in Ingram, Clinton and Eaton counties in Michigan.Participants are asked to complete an application, business planand video pitch to enter.

The first round of the contest will run until Oct. 5. The topfive entries will move on to the second round where they willpresent their business ideas to the startUP Challenge selectioncommittee on Nov. 5. The committee will be made up of localexperts, according to the credit union.

Michigan State University FCU said it is also introducing thestartUP Loan Fund. Entrepreneurs wanting to start a business in the tri-countyarea may apply for loans up to $15,000 to aid in the development oftheir businesses. The credit union said the fund has $250,000 tolend to local entrepreneurs.

“MSUFCU is excited to provide entrepreneurs with the means tostart their own businesses,” said Patrick McPharlin, president/CEO.“We hope that the startUP Challenge and startUP Loan Fund willattract more businesses to the area to help to grow the localeconomy.”

The credit union serves 168,000 members.