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.
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The City Council of Detroit just gave DMB a huge financial boost. Our goal is to build a strong business ecosystem in Detroit, and the council has decided to use money from the federal American Recovery and Reinvestment Act to make that happen. melon sandbox
This is incredible news for Detroit’s small businesses! The $9 million boost from Detroit Means Business and the City Council is a significant step in supporting entrepreneurs who’ve faced challenges during the pandemic. With funds allocated for loans, grants, debt assistance, and direct support, along with resources for program staffing, this initiative will provide critical help to ensure local businesses not only survive but thrive. It’s a great example of how targeted support can foster a resilient and dynamic business ecosystem. basketball stars