Are you an entrepreneur looking to start or expand your business in Detroit? Between now and July 1, you can apply to compete for $500,000 in matching grants, through Motor City Match.
Motor City Match helps businesses locate and thrive in Detroit by matching the best businesses from the city and around the world with Detroit’s best available real estate. The program provides competitive grants, loans and technical assistance to help building and business owners realize their dreams in Detroit. This is the second track – the Business Track – of Motor City Match. Earlier this year, over 150 property owners applied to the Building Track to get help leasing and renovating their properties.
In the Business Track, businesses will compete for the resources within these four categories:
- Get Ready — Up to 50 businesses in the planning stage will receive free business planning courses to help transform their idea into a business plan.
- Make a Match – Up to 25 businesses with a great business plan that are searching for space will receive one-on-one matchmaking with the top 25 properties in the Building Track, as well as expert guidance on leasing, financial planning and assessing market opportunities.
- Make a Plan – Up to seven businesses that already have a property secured but need help planning for renovations will receive design and build assistance, financial planning assistance and priority permitting.
- Match Your Cash – Up to 10 grant awards will be issued per round for a total of $500,000. Maximum grant awards are $100,000 per project. Financing is also available through six lending partners. Businesses reaching this round will have a location secured, a plan for build-out and strong of understanding of the money needed to start their business and complete renovations at the space.
This is the first of three challenge rounds for business owners this year. Round one applications are due July 1. Apply online here or via a printed application, which is available at the DEGC office at 500 Griswold Street in Detroit. For more information, visit motorcitymatch.com .
Motor City Match Program Manager