Explore Grant, Loan, and Funding Opportunities Available to Flint & Genesee County Small Businesses and Entrepreneurs
The Moving Flint Forward Small Business Grant Program is a collaborative effort between General Motors and the Flint & Genesee Economic Alliance to provide grants to Flint neighborhood small businesses. The program awards grants up to $10,000 each to small businesses that effectively demonstrate needs or challenges that are barriers to growth. The program is designed to help businesses expand, make repairs and leasehold improvements, and purchase inventory and equipment. (Debt service on any federal, state or local taxes owed are not eligible expenses for program consideration.)
The CDC/504 Loan Program provides long-term, fixed rate financing of up to $5 million for major fixed assets that promote business growth and job creation.
504 loans are available through Certified Development Companies (CDCs). CDCs are SBA’s community-based partners who regulate nonprofits and promote economic development within their communities. CDCs are certified and regulated by the SBA.
Is Your Business Eligible?
To be eligible for a 504 Loan, your business must:
– Operate as a for-profit company in the United States or its possessions
– Have a tangible net worth of less than $15 million
– Have an average net income of less than $5 million after federal income taxes for the two years preceding your application
Other general eligibility standards include falling within SBA size guidelines, having qualified management expertise, a feasible business plan, good character and the ability to repay the loan.
Loans cannot be made to businesses engaged in nonprofit, passive, or speculative activities. For additional information on eligibility criteria and loan application requirements, contact Tracy Joseph at (810) 600-1406 or tjoseph@flintandgenesee.org
SOURCE: U.S. Small Business Administration
Kiva is for any entrepreneur who can use a 0% interest loan to help take his or her business to the next level. Whether you’re in the idea phase, start-up mode, or an established business, Kiva could be a great option for you. LISC, Local Initiatives Support Corporation the nation’s largest nonprofit community finance organization, and Kiva are partnering together to expand financial opportunities across the United States.
Entrepreneurs can raise money for any business purpose — working capital, equipment, inventory, marketing, or project-based investments are all ways you can leverage Kiva to help your business grow.
As a partner of LISC, the Flint & Genesee Economic Alliance works with local entrepreneurs to support business owners. For more information or questions about LISC or Kiva, contact Tracy Joseph at tjoseph@flintandgenesee.org
For additional grant and loan opportunities, contact our small business experts.
