If you have a small business in Michigan, there are several grant programs that can help you achieve your goals. From Kalamazoo to Detroit to Flint, communities across the state can benefit from a vibrant small business community.
Small Business Grants Now Available in Michigan
Here are the Michigan small business opportunities that can help.
Growing MI is a statewide grant program to support businesses affected by the pandemic. Michigan has allocated $409 million to the program, and companies can apply for up to $5 million each. To be eligible for the full amount, companies must be active before October 1, 2019. Companies that started between that date and May 31, 2020 can apply for grants that cover up to 25 percent of eligible, pandemic-related costs. The program is specifically designed to help entertainment venues, gyms, hotels, hairdressers and restaurants. The deadline to apply is March 31.
Match on Main
Match on Main is a benefit grant program that aims to grow and support Michigan communities. Companies do not directly apply for this grant – instead, eligible DDA, business districts or government organizations apply and choose which companies to include. Each applicant can apply for up to $25,000 in funding. Applicants can submit an application on behalf of a maximum of two companies per subsidy round. This is an ongoing program with several rounds per year; applications are currently being accepted online.
Move flint forward
Moving Flint Forward is a grant program funded and facilitated by General Motors and the Flint & Genesee Economic Alliance. Grants of up to $10,000 are intended to support economic growth and employment across the area. To be eligible, companies must have 20 or fewer employees and must not be a franchise location or previously receive a Moving Flint Forward grant. The application period for the third funding round has closed. So look for updates on a fourth as more funding is provided by General Motors or other community partners.
National subsidy for value-added producers
The National Producers’ Exchange Added Value is a regional financing program for agricultural producers. This is not specific to Michigan, but is relevant to the state’s farmers and is supported by seminars through Michigan State University Extension. The program supports family farms, cooperatives and other organizations that produce a variety of goods. Grants are generally limited to $75,000 for planning purposes, but can be as high as $250,000 for working capital. This program also requires a dollar-for-dollar match from the beneficiary. For the final round, electronic applications must be submitted by April 25, and paper applications must be submitted by May 2.
Hatch Detroit, sponsored by Comerica Bank, has been supporting emerging entrepreneurs in the city for a decade. The annual competition usually provides a $50,000 grant to support the formation of their new physical storefronts. However, Comerica Bank is doubling its contribution this year to celebrate the program’s tenth anniversary. So aspiring Detroit store owners can apply for a $100,000 grant this year. The 2022 submission period ends on May 12. Then the public can vote for the companies they most want to see in Detroit.
Kalamazoo County Stimulation Funds
Kalamazoo County in southwest Michigan is now accepting grant applications from companies that have suffered from the pandemic. Funding comes from the American Rescue Plan Act and companies must meet the qualifications set forth by the federal government. The online application portal is now open and entries must be submitted by April 15th. Applicants have until March 31 to ask questions about their applications.
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