Small Business
Financial Resources
Which financial resource is right for me?
There are several types of funding options available to meet your small and medium business's needs. Each type has specific characteristics that are important to understand. Multiple funding types may be suitable for you.
Disclaimer: the recommendations are not exhaustive and do NOT guarantee approval.
Get additional assistance by filling out our request form here or contact us at our call center directly 844-333-8249.
Crowdfunding
Crowdfunding may be right for your business if the business has a large, supportive network willing to contribute to its success.
Grants
Grants are typically a no regret funding option, especially for businesses that are struggling financially, as the money does not need to be paid back.
Investment
Investors provide capital for a business usually in exchange for convertible debt or ownership equity.
Loans
Loans allow a business the flexibility to cover their expenses or make necessary investments, while paying back the money over time, typically with some interest.
Narrow your search
DEGC Green Grocer Program
Green Grocer Program Cash Grant Awards can provide eligible awardees with funding to assist in opening a small format grocery store or providing fresh food options in an existing retail location in Detroit (including convenience stores or other retail locations). Grant funding will enable grocery development projects to procure needed equipment, technology, inventory, and buildout completion. Technical assistance grants can provide eligible awardees with funding that may include, but not limited to market research, marketing, merchandising/display, product sourcing, supplier relationships, product handling and storage, store design and layout, customer service, fresh food requirements/compliance, food rescue, digital literacy, and sustainability. Cash and technical assistance grants may be combined, and the combined value of a single grant per store may not exceed $30,000 ($25,000 maximum for cash grant).
Eligibility:
The following section provides minimum requirements that businesses must meet to participate in the Green Grocer Program. To be eligible for assistance, the business must be:
- A registered for-profit business in good standing with the State of Michigan and the City of Detroit (including appropriate business and blight clearances), with a business address located within the City of Detroit.
STORE ELIGIBILITY REQUIREMENTS
- Small format specialty stores (1,500 – 5,000 sq. ft.) increase groceries and fresh foods to over 15% of selling space.
- Mixed market community stores (3,000 – 15,000 sq. ft.) increase fresh produce, meat, dairy, specialty, organic or other alternatively sourced product.
- New Construction (over 10,000 sq. ft) with fresh produce, meat, and dairy.
- Alternative format stores with a preponderance of fresh food.
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Applications are open until funds run out
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ELEVATE TOGETHER® powered by Round It Up America®
ELEVATE TOGETHER® powered by Round It Up America® is a nonprofit initiative designed to address systemic discrimination and historical racial disparities in business growth and profitability in Black and Hispanic communities.
Through a partnership with the National Urban League’s Entrepreneurship Centers and the U.S. Hispanic Chamber of Commerce, the initiative helps support Black and Hispanic small businesses with five or less employees. The ODP Corporation (parent company to Office Depot, ODP Business Solutions, Varis, and Veyer) is the initiative’s founding partner. The NCR Foundation also supported Elevate Together as a corporate partner in the initiative’s foundation year.
Eligibility:
MBBA Premium Member
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