Two companies in the Ann Arbor region are among the recipients of $170,000 in financing distributed today by the Michigan Microloan Fund, which Ann Arbor SPARK manages.

Ann Arbor-based social networking startup MemCatch and Ypsilanti-based CTC Holdings will receive microloans. The Michigan Microloan Fund distributes financing in amounts ranging from $10,000 to $50,000. Specifics about each loan were not available.

Microloans are meant to provide financing for small startup companies whose financial needs are not adequately met by traditional commercial banking.

MemCatch, CTC, Commerce Township-based Energy Management Devices and Rochester-based Motor City Wipers received $170,000 in funding, SPARK announced today.

CTC is developing products that convert emissions to fuel, and MemCatch is developing a “social knowledge network that helps users build and share information,” according to a news release.

The Michigan Microloan Fund program consists of $1.5 million in funding from a collection of microloan efforts, including $1 million from the Michigan Pre-Seed Capital Fund, $225,000 from the Eastern Washtenaw Microloan Fund and $275,000 from the Ann Arbor/Ypsilanti Local Development Financing Authority committed to funding companies in the city of Ann Arbor.

Contact AnnArbor.com’s Nathan Bomey at (734) 623-2587 or nathanbomey@annarbor.com. You can also follow him on Twitter.