If you run a small business in Michigan, there are several grant programs that may help you reach your goals. From Kalamazoo to Detroit to Flint, communities throughout the state can benefit from a vibrant small business community.
Small Business Grants Now Available in Michigan
Here are the Michigan small business grant opportunities that may help.
Growing MI is a statewide grant program to support businesses affected by the pandemic. Michigan allocated $409 million to the program, and businesses can apply for up to $5 million each. To qualify for the full amount, companies must be in business prior to October 1, 2019. Companies that launched between that date and May 31, 2020, can apply for grants that cover up to 25 percent of eligible, pandemic-related expenses. The program specifically aims to help entertainment venues, gyms, hotels, barbers, and restaurants. The deadline to apply is March 31.
Match on Main
Match on Main is a reimbursement grant program that aims to grow and support Michigan communities. Businesses don’t directly apply for this grant – instead, eligible DDA, business districts, or government organizations apply and choose which businesses to include. Each applicant can request up to $25,000 in funding. Applicants can apply on behalf of up to two businesses per funding round. This is an ongoing program with multiple rounds each year; applications are currently being accepted online.
Moving 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 aim to support economic growth and employment opportunities throughout the area. To qualify, businesses must have 20 or fewer employees and not be a franchise location or a previous Moving Flint Forward grant recipient. The application period for the third round of funding has closed. So look for updates on a fourth if more funding is provided by General Motors or other community partners.
National Value-added Producer Grant
The National Value-added Producer Grant is a regional funding program for agriculture producers. This isn’t specific to Michigan, but is relevant to the state’s farmers and is supported through seminars through Michigan State University Extension. The program supports family farms, cooperatives, and other organizations that produce various commodities. Grants have generally been limited to $75,000 for planning purposes, but may go up to $250,000 for working capital. This program also requires a dollar-for-dollar match from the grantee. For the latest round, electronic applications must be submitted by April 25, and paper applications are due May 2.
Sponsored by Comerica Bank, Hatch Detroit has supported up-and-coming entrepreneurs in the city for ten years. The annual contest usually provides a $50,000 grant to support the formation of their new brick and mortar storefronts. However, Comerica Bank is doubling its contribution this year to celebrate the program’s tenth anniversary. So aspiring store owners in Detroit can apply for a $100,000 grant this year. The 2022 submission period ends May 12. Then the public gets to vote for the businesses they most want to see in Detroit.
Kalamazoo County Stimulus Funds
Kalamazoo County in Southwest Michigan is now accepting grant applications from businesses that have suffered due to the pandemic. Funding comes from the American Rescue Plan Act, and businesses must meet the qualifications outlined by the federal government. The online application portal is now open, and submissions are due by April 15. Applicants have until March 31 to ask questions about their applications.
This article, “$409 Million in Small Business Grants Available in Michigan” was first published on Small Business Trends