Detroit entrepreneurs and commercial property owners are once again being encouraged to apply for the city's Motor City Match program. Applications are open for submission March 1-April 1. It's the third round of the program intended to stimulate Detroit's commercial corridors.
There are four major award categories for which business and property owners can apply for a share of $500,000 in grant funding. Each category is designed for business and property owners at different levels of building a business.
The first category is for business plans, which Motor City Match will help entrepreneurs develop.
The second category seeks to match commercial property owners with business tenants. Buildings must be in good shape and entrepreneurs must have quality business plans or successful track records.
The third category will award architectural design assistance, construction documents, and priority permitting to business and building owners with recently signed leases.
The fourth and final category is for those with signed leases, quality business plans, and bids for building out the space, but who still have to bridge a financial gap. This category awards cash to such applicants.
Motor City Match was launched by Mayor Mike Duggan and the Detroit Economic Growth Corporation in 2015. Roderick Miller, CEO of the DEGC, says in a statement, "After two rounds of Motor City Match awardees, it's clear this program is making an impact in Detroit. From restaurants and retail establishments to service companies and even manufacturing, Motor City Match is growing neighborhood small businesses across the city."
According to officials, the Motor City Mach program has invested $1 million in 20 businesses to date, leveraging an additional $6 million in public and private investment. Motor City Match also points out that 70 percent of the 196 businesses and property owners that have received support are minority owned. Furthermore, two-thirds are from Detroit and half are minority woman-owned businesses.
Visit
motorcitymatch.com for details on how to apply.
Disclosure: Model D receives support from Motor City Match to tell stories of small business development in the city's neighborhoods.
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