So the program offers folks financial education?
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The program is a facade improvement program for businesses that have been open for a year in their current location in Detroit. We provide a reimbursable grant up to 25k which can be used towards new store front windows , awnings , signage , bike racks , tuck pointing, etc ...
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Ah so businesses have to spend first and then once they prove they spent it they will be reimbursed. That sounds difficult for a small business, I mean to come up with the money for reiairs on top of day to day expenses, taxes, etc.
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It can be a challenge but we work with businesses to help ease that burden a number of ways . 1) we introduce them to the cdfi’s in detroit
@InvestDet , ddf , Michigan woman’s forward , etc where the business owners can receive lending assistance to help their project... -
The business owner can pay to get their windows down and once they pass city inspection apply for reimbursement . Once reimbursed they have now additional funds to help them complete their project .
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I get it. That means only financially healthy businesses can qualify. Are you aware of programs that help businesses that need financial support?
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When you say financial support, It sounds like you’re referring to technical assistance : Check out
@ProsperUS they offer technical assistance to businesses that need help with legal , marketing , accounting , branding , etc . -
Thank you. I’ve seen that in Detroit Marketing and branding are two areas that are kind of over saturated regarding business development support. I’m interested more in orgs or businesses that help businesses financially, as in investment to become financially healthy.
End of conversation
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