Small Business Grants Detroit

Business Apr 27, 2023

Small Business Grants Detroit – The new series of small businesses were awarded Motor City Match funding and the 13 winners were honored at the program on Thursday.

The 18th edition of the program provides 63 entrepreneurs and homeowners with financial assistance, design, development or planning. And a total of 500,000 dollars will be distributed to the companies that receive financial assistance.

Small Business Grants Detroit

Small Business Grants Detroit

“What’s great about this round is we have a lot of people willing,” said Drew Lucco, Motor City Match program director. “We’ve been here for two years now, and people are living through an epidemic. People are not slow. Lucco said that inflation affects the cost of construction, and some companies need financial incentives to overcome this obstacle.

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The 13 companies that received $25,000 to $60,000 in grants include Joyola Mei Hair, Fork in Nigeria, Mature, Detroit Dance Center, Supreme Café, RAMP Detroit, The Sandwich Lobby, Dulce Café and Bakery, Welcome Home Yoga & Wellness, Hooked on Books Baby Care, Lily’s & Elise, Breadless Corporation and Detroit Soul.

Small Business Grants Detroit

“Motor City Match continues to give business owners the access and tools they need to remove the barriers to their success and what’s in front of them,” said Kevin Johnson, President and CEO of the Detroit Economic Growth Corporation. . “We’re seeing more investment. in neighborhood businesses providing jobs in the goods and services they need, black-owned and women-owned businesses, more local jobs and less money.

The city of Detroit, the Detroit Economic Growth Corporation, the economic development agency and the US Department of Industry and Urban Development are behind the program.

Small Business Grants Detroit

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“We want to create a system for Detroiters to open their own businesses and be successful in Detroit,” said Mayor Mike Duggan. He said that there are plans to continue the development of the City Hall at a “higher level”.

In a news release, Duggan said there are plans to submit a proposal to the City Council that would seek approval to use American Savings Act funds to increase funding for City Hall. .

Small Business Grants Detroit

“There is no other program in the country that has the impact Motor City Match has in creating a new generation of entrepreneurs, and the demand is only growing,” Duggan said. “During the 70 community meetings we had on how to spend our share of the ARPA money, supporting small businesses in Detroit was something we heard from a lot of people, and so we included it in our plan. that.”

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The program has not announced new awards since January 2020, after a year and a half suspension, but workshops and other events have continued during the pandemic. Applications for the 18th round opened Sept. 16, and Motor City Match received 377 applications for four categories, including 87 financial aid applications, Lucco said.

Small Business Grants Detroit

Joyola Mei Hair is owned by Joyell Lewis, who will open her hair salon in February at 1432 Michigan Ave. in Corktown. Its goal is to provide a complete and environmentally friendly hair salon experience, which recycles hair care waste and produces recyclable products.

Lewis raised $25,000, which he plans to use to expand his staff. In the meantime, he is the sole promoter running the site.

Small Business Grants Detroit

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“This money helps me on my record so I can sustain the business for years while I build and find employees,” Lewis said. “This money will allow me to keep the business going if I can hire six stylists.”

Ogbo, owned by brothers Darryl and Dekoven Humes, sells casual and upscale clothing for men. Ogbo, which started in 2017, has a charity group, which shows and teaches young people about fashion and beauty, and also receives awards. The Veteran received a $30,000 prize.

Small Business Grants Detroit

Darryl Humes said, “This program does a great job of educating you about what’s out there, and the opportunities, but it’s also a great opportunity for you to earn money that can further your vision.”

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The Humes brothers plan to expand their business, with future projects coming to Twelve Oaks Mall and a new location in Detroit’s Fisher House at 3011 West Grand Blvd., where them now.

Small Business Grants Detroit

Detroit Dance Center is owned by Linda Hendricks, Jasmine Woods and Dominique Hamlett. The center is scheduled to open in the spring of 2022 at 831 Selden St. in Midtown. The owner is a dancer and will teach students 18 months and older about dance and art.

“Seeing things that we didn’t think would happen — that people wouldn’t participate because of the pandemic — really happened,” Hendricks said. “And our dream studio is perfect, so we’re really excited about it and having this opportunity to open something that the city needs.”

Small Business Grants Detroit

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City Council President Mary Sheffield praised each of the entrepreneurs who she says drive the economy by hiring local workers, giving back. He said that the Municipality realizes that it is important to use city funding to support small businesses.

“The first thing that comes to mind is how hard it is to become an entrepreneur,” Sheffield said. “And I always hear the obstacles, the access to the capital fighting our company. So I just applaud the ingenuity, the patience, the persistence that you all need to be successful. I think it’s in you Detroit Spirit. .”

Small Business Grants Detroit

The Motor City game was launched in 2015 to help entrepreneurs go from business plan to official launch. Over 80% of these businesses are owned by minorities, 71% are owned by women and 64% are owned by Detroit residents. Since its inception, the program has distributed $8.6 million in aid, 37 downtown businesses have opened in two years, and 47 businesses are currently under construction. That has led to $47 million in renovations and investment, which Johnson says is in the area.

Black Owned Business Assistance

“We are so blessed in this city to have such support from the Mayor, the City Council, but most importantly you and your spirit. The number one killer of a good idea is lack of capital,” Johnson said. “So what does this do, you fight against it, you allow the city to thrive because of your investment in us and your belief in your city.” DETROIT – Today, New Economy (NEI) announced nearly $1.2 million in funding to provide small businesses in the Southeast with access to capital, practical assistance, information and connections to resources. in Michigan.

Small Business Grants Detroit

“Small business is the best catalyst to promote economic growth and build innovation, but inclusion is essential in this sector to realize its potential,” said Wafa Dinaro, NEI’s executive director. “Through a trusted community-focused nonprofit, these grants will help underserved small business owners and entrepreneurs access the capital and resources they need. to expand and create opportunities in their communities.”

The money is part of NEI’s Small Business Support Network Fund launched in May 2021 to drive small business growth in Detroit, Hamtramck, Highland Park and other parts of Wayne County. 10 nonprofit business support groups will receive $1.195 million in grants, with between $75,000 and $150,000 each.

Small Business Grants Detroit

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“At the height of the pandemic, small businesses in areas where NEI invested in building strong networks fared better than those that didn’t.” Two years ago, we needed to build a strong network in all areas that can provide timely and comprehensive support to underserved small businesses,” said Dinaro, who led the effort. Wayne County will share $80 million. in epidemics.-related funding.and small business loans before becoming NEI’s executive director in February 2022.

With the latest announcement, NEI has awarded $3.3 million from the Affiliated Small Business Network Fund to date. The fund was launched with $19.5 million in support from donors, including the Community Foundation for Southeast Michigan, Ford Foundation, Hudson-Webber Foundation, The Kresge Foundation, Ralph C. Wilson, Jr. Foundation, the William Davidson Foundation, and the W.K. Kellogg Foundation.

Small Business Grants Detroit

The funding, which includes a partnership with Invest Detroit to support this critical network, builds on NEI’s focus on existing small businesses and workers under the age of 50 navigating impact challenges. of COVID and looking for more in development time.

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The New Economy Initiative is a partnership and project of the Community Foundation for Southeast Michigan that works to build a community network of support for businesses and small businesses. Its mission is to foster a business culture in Southeast Michigan that benefits all residents and strengthens the local economy. Since 2009, NEI has awarded 650 grants totaling nearly $133 million to nonprofit business support groups helping 21,436 businesses and driving more than $2.6 billion in environmental benefits. Learn more at https:///.

Small Business Grants Detroit

Community Service for Southeast Michigan is a nonprofit organization that leads the way for good

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