LANSING – Seventy-seven percent of small businesses have successfully submitted an application for the Paycheck Protection Program and the Economic Injury Disaster Loan programs, a recent survey reports. Key Findings of today’s survey include: The majority of small businesses have applied for a PPP loan. About 84 percent of applications were submitted before April 17,
BIRMINGHAM – Angel investors Doron York and David Weaver, known lately as the co-founders of Cityside Ventures, have come up with a new way to help small businesses survive the COVID-19 depression that some experts say could bankrupt half of them by the end of 2020, if not sooner. Enter eiconica Advisors, billed as the
LANSING—More than 2,700 small businesses around Michigan have been awarded a total of $10 million in grants by local economic development organizations through the Michigan Small Business Relief Program, the Michigan Economic Development Corp. announced. The grants under the Michigan Small Business Relief Program are intended to support businesses facing drastic reductions in cash flow
DETROIT - The Quicken Loans Community Fund has partnered with the City of Detroit and Rebrand Cities to provide a digital accelerator to 100 Detroit small businesses. The four-week virtual course will provide all the resources and instruction necessary for small businesses to build out a functioning website with an e-commerce shop that they will
DETROIT - The TechTown Stabilization Fund closed with 347 grantees receiving a total of $575,000 in funding – adding to the 350 small businesses previously funded by TechTown’s Detroit Small Business Stabilization Fund. Together, the two funds funneled approximately $1.2 million into local small businesses in the midst of the ongoing COVID-19 crisis. The New Economy
LANSING – The MSF Board has approved modifications in the Business Accelerator Fund (BAF) which provides grants to 16 Smart Zone business accelerators to help high tech companies commercialize technology and grow. These modifications will help the Smart Zone accelerators better support their clients that are now struggling due to drastic economic decline due to
DETROIT — Over the course of two weeks, TechTown launched the Detroit Small Business Stabilization Fund and awarded a total of $606,000 to 350 Detroit small businesses. The fund was created in partnership with the City of Detroit, the Detroit Economic Growth Corporation (DEGC), and Invest Detroit to provide working capital grants to some of
ANN ARBOR - In light of the continuing impact of the coronavirus, the Midwest Growth Capital Symposium and InvestMidwest have partnered to present an online Midwest Venture Showcase 2020. The online format will still showcase Midwest companies seeking early-stage funding and the opportunity to connect with founders, angel investors and venture capitalists — as MGCS
ANN ARBOR - Dug Song, who sold in 2018 Duo Security to Cisco for $2.35 billion, has contributed $1 million to an emergency relief fund for small businesses in Washtenaw County impacted by the COVID-19 pandemic. The money was donated to the Washtenaw Small Business Emergency Relief Fund. https://www.washtenawsbf.com/ Contributions also came from Ann Arbor
LANSING–The Michigan Economic Development Corp. Pure Michigan Business Connect program is expanding its free, online procurement platform by now including donations from suppliers capable of filling health and human service needs across a broad range of product and service categories. The platform will provide direct access to businesses within the state providing supplies including personal
