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Saturday, April 19, 2014

Detroit's NEIdeas Program Offering Small Business Grants up to $100,000

The NEIdeas Program stands for New Economy Initiative, and that is exactly what the program is designed to do. By offering grants to support small business, Detroit hopes to revitalize the economies in the cities of Detroit, Hamtramck and Highland Park, Michigan.

With a budget of $500,000, the NEIdeas Program will award grants of $10,000 each to 30 small businesses. In addition, two businesses will each be awarded grants of $100,000. These are sizable grants that will help already existing small companies grow and create more jobs for Detroit and the surrounding area.

Qualifications

Applicants must have businesses that are at least three years old. Applicants for the $10,000 grants must have annual revenues under $1 million. Applicants for the two $100,000 grants must have businesses who gross between $1 million and $5 million in sales.

Deadlines

Application deadlines are as follows: June 5 for $10,000 grants and June 26 for $100,000 grants. All winners will be announced in the Fall. The new program is expected to make a significant impact not only for the small businesses who receive the grants but also for the economy. As Detroit Mayor Mike Duggan explained, "Receiving a strategic infusion of cash like this can be just the boost an existing small company needs to grow and create more jobs for our local economy."

For more information, visithttp://neideasdetroit.org/
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