Detroit Means Business awarded $9 million to aid pandemic-impacted small businesses
- Aug 9, 2022
- 1 min read
Updated: Aug 12, 2022
Since 2020, Detroit Means Business has helped entrepreneurs navigate success through the COVID-19 pandemic. We've provided technical and financial assistance to ensure businesses survived the pandemic.
DMB recently received a massive boost in funding from Detroit's City Council. Council voted to allocate funds from the federal American Rescue Plan Act to help further our mission to create a robust business ecosystem in Detroit.
DMB will receive $2 million for loans and grants, $3 million in small business debt pay-down assistance and $2 million in direct small business support. The additional $2 million will be allocated toward additional program staffing and administration services over the three-year project period, DEGC President and CEO Kevin Johnson said in a news release.
