Wherever you locate your new business, every state has an abundance of supportive organizations for women entrepreneurs. Michigan's women entrepreneurs are in luck. Below, this article will detail many excellent opportunities growing and reaching out to assist women-owned businesses. Here are the best business grants for women in Michigan.
Michigan Women's Commission
Credit is one of the first hurdles small business owners face when deciding to open their small business. Grants, unlike loans, generally do not have to be repaid. Grant money is beneficial for small business owners with funding issues.
Barbara Deming Memorial Fund (Money for Women Grant)
During the civil rights and women's movements, Barbara Deming was on the frontline. Deming wanted to give financial and moral support to creative women who worked in the same field as her. Twice a year, the fund awards $500 to $1,500 to individual feminists who write, work in visual art, and write pieces that uplift fellow women.
This support comes from loans to US nonprofits, individuals, small businesses, veterans' organizations, and Tribal businesses. This support is meant to contribute to job retention during the COVID-19 pandemic. Eligible uses include payroll assistance, guidance for companies and employers, SBA relief efforts, and more. The Small Business Administration considers grants and loans for individuals from every US state.
Grants to New Jersey, Michigan, Wisconsin, and Ohio Nonprofits to Turn Vacant Lots into Recreation Areas
This grant gives as much as $10,000 and grants of up to $75,000 to New Jersey, Michigan, and Ohio nonprofit organizations and community-based projects to turn vacant lots into recreation areas. Funds can support small businesses in and around the project.
Michigan Small Business Relief Program Funding
The Michigan Economic Development Corporation recently announced that small businesses impacted by COVID-19 may now obtain grants or loans through the Michigan Small Business Relief Program. This program provides as much as $20 million in grants and loans to give economic assistance to the state's small businesses negatively impacted by the coronavirus. A few of the offerings that are coming to the fore include:
● Michigan Small Business Survival Grant Program
● Michigan Stages Survival Grant Program — grants for entertainment venues
● Amber Grant for Women — Businesswomen in Michigan and all around the US are eligible to apply for a $10,000 Amber Grant each month. If you are one of the winners at the end of the year, you will automatically win Amber Grant for Women's year-end Amber Grant of $25,000. The Amber Grant site has helpful links to resources that support businesswomen in Michigan.
Fundid is on a mission to get women-owned businesses the capital they need to grow so that we can all close the business wealth gap. While 42% of businesses in the US are owned by women, they only account for 4% of revenue generated by private businesses. We spend our time at Fundid thinking about what the world would look like if women also generated 42% of revenue and how to get them the capital they need to make that happen. Fundid is creating new ways to get small businesses the capital they need to grow and is built from the feedback of women entrepreneurs.