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Monday, April 11, 2016

Detroit Grant Program Awards Another $500,000 in Small Business Grants!

detroit_awards_another_$500,000_in_grants
Detroit Mayor Mike Duggan announces latest Motor City Match grant awards
Every 3 months, the Motor City Match program in Detroit awards grants to small businesses to help entrepreneurs start or grow businesses. This quarter, the grants totaled $500,000 -- and there's more to come.

Motor City Match program

The program began early in 2015 and was launched by Detroit Mayor Mike Duggan and the Detroit Economic Growth Corporation. The program awards grants ranging from $18,000 to $100,000 to entrepreneurs to help them start or grow businesses in Detroit neighborhoods. The latest awards were the third round of grants issued through the program.

Nine small businesses received grants. But the program doesn't end here. In addition to the grants, the program gave free business planning courses to 50 applicants, space awards to 30 other businesses that enables them to receive financial planning and real estate assistance, and 7 other businesses received free architectural support that will help them plan their business renovations.

The grant program brings together small business tenants with property owners. The grant money can be used for equipment and other business-related expenses incurred by small companies looking to start or expand in Detroit. About 70 percent of the businesses who received grant awards are owned by minorities.

Next deadline: July 1, 2016

Applications for the next round of grant funding will begin June 1 and end on July 1, 2016.

For more information, visit www.detroitnews.com/story/news/local/detroit-city/2016/04/11/detroit-businesses-get-grants-expand-efforts/82891752/
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