Sometimes a little money invested in the right place goes a long way.
On Wednesday, the Michigan Economic Development Corporation (MEDC) and Citizens Bank announced the next round of recipients of their micro-grant program.
The $175,000 of grant money will be distributed to Eastern Market and 70 local small business in Southeast Michigan, to help them make the necessary purchases to expand their business or improve efficiency.
The funds will be used for a variety of small business needs such as:
- Point of Sale systems
- Tractor with tiller attachment
- Pressure sterilizer and steam generator (mushroom grower)
- Walk-in freezers or coolers
- Label printers
Part of the bank’s Citizens Helping Citizens Strengthen Communities initiative, the “Growing Communities” program contributes to the economic vitality of its surrounding areas.
“The investment by Citizens Bank and MEDC in Eastern Market and the City of Detroit demonstrate a great commitment to growing the entrepreneurial ecosystem in our city,” said Randall Fogelman, Vice President of Business Development for the Eastern Market Corporation. “These grants, for equipment or supplies or land, allow small businesses and urban growers to expand their operations in a very tangible and immediate way.”
Favorites like Burdas Berry Farm, Loves Custard Pie, Detroit vs. Everybody and Signal Return were just a few of the recipients, and you can view the full list here.