LANSING – Michigan received the top award in the nation from the U.S. Small Business Administration (SBA) State Trade Expansion Program for the upcoming fiscal year. Michigan received $2 million in federal grant funds – the maximum amount awarded by the SBA and a $650,000 increase from 2021 – to help Michigan small businesses grow in the state through increased access to global markets. The Michigan Strategic Fund is providing an additional $667,000 as the state match to support the Michigan STEP grant initiative.
Administered by the MEDC’s International Trade program, this year’s SBA award supports export development for small- and medium-sized businesses through financial assistance grants. Applications are accepted on an on-going basis for MI-STEP grants. For complete details on how to apply for assistance, visit michiganbusiness.org/export or contact an International Trade Manager.
To find out more, click on https://www.michiganbusiness.org/press-releases/2021/09/whitmer-announces-$2-million-export-assistance-funds-available-for-mi-small-businesses/?utm_source=business-report&utm_medium=email&utm_campaign=medc-mi-receives-2M-export-assistance-funds-for-mi-small-businesses-09-09-2021-pr&mkt_tok=MzMxLVhSVy0zODcAAAF_bsjO3XTwsAgOqaJ10ChYiB7V8K0XtihXyg_y2vuSo9Y73Er0S3p364AZP4aVZ7nnVqj3lwa6pFr9hvTj1EkD9Et6LSLtmS117s6m6a9h