Michigan Women Forward launches $1.5M Michigan Entrepreneur Resilience fund

Michigan Women Forward, in partnership with the Michigan Economic Development Corporation (MEDC), New Economy Initiative (NEI), Michigan-based foundations, corporate partners, individual donors, and in collaboration with the SBA, has secured funding to provide recovery grants and loans to diverse entrepreneurs and small businesses from underrepresented groups in Michigan.

The Michigan Entrepreneur Resilience Fund is intended to assist geographically and demographically disadvantaged individuals through two primary avenues of funding: grants and microloans.

Eligible candidates will be prioritized based on demonstrated need, including, but not limited to:

• Being located in a disadvantaged area within a U.S. Small Business Administration designated HubZone or Opportunity Zone;
• Demonstrating status as a low- to moderate-income borrower;
• And qualifying as a diverse business that can demonstrate ownership by underrepresented groups including, but not limited to, veterans, minorities and low-income men and women.

Applications will be available May 12 and accepted on a rolling basis until funds are exhausted. Applications will be prioritized according to funding need and prospect for a successful recovery.

Learn more about eligible businesses and application requirements at miwf.org/mwf-entrepreneur-resilience-fund