By Wazobia Staff
Owning your own business takes hard work and dedication. A lot of blood, sweat, and tears will go into making your dream a reality; literally. You are just one of the ones that decided that the dream of being an entrepreneur is not out of your reach. It will be your great idea that will change how the world does business. It will be your company that inspires someone else to go higher. If you are based in Detroit, Michigan, Motor City Match is trying to help you realize your entrepreneurial dreams.
Since 2015, Motor City Match has provided $500,000 per quarter in matching grant money for businesses and building owners. As well as connecting new and expanding businesses with Detroit’s quality real estate opportunities, providing them with funding and tools to help push the city’s entrepreneurial renaissance. Due to the number of outstanding entries last quarter they extended the funds to $600,000.
Motor City Match is proud to boast on their website that this program is a unique partnership between the City of Detroit, the Detroit Economic Growth Corporation (DEGC), the Economic Development Corporation of the City of Detroit (EDC) and the U.S. Department of Housing and Urban Development (HUD). Competitive financial assistance is supported by a broad partnership of Southeast Michigan community development financial institutions, foundations and corporations.
There are two ways that they are helping building owners and business owners.
1. The Building Owner Track is for Detroit building owners looking to lease vacant commercial space to quality businesses.
Buildings must be structurally sound, in good standing and benefit the community as outlined in program guidelines.
Building owners may compete for higher assistance levels in upcoming quarters.
2. The Business Track is for entrepreneurs looking to start or expand in Detroit. Whether you have an idea or a plan or you are looking for space or already renovating a space, there are resources available to help your business thrive.
Business must locate in the city for at least two years and demonstrate a benefit to the community, as outlined in program guidelines.
Business owners may compete for high assistance levels in upcoming quarters.
In addition to the matching grants, they also have business planning classes as well as architectural and design support.
Applications are currently open for Round 8 of the program and close on April 1, 2017. Winners will be selected every 90 days.
To apply or for full details and program guidelines click here.
Motor City Match can be reached at the following contact information for questions.
Motor City Match 500 Griswold St. Suite 2200 Detroit, MI 48226