Program Offers Grants To Help Small Businesses Grow

DETROIT (AP) - Small businesses in Detroit, Hamtramck and Highland Park can apply for $400,000 in grants to help them grow.

The New Economy Initiative program targets companies that are at least three years old.

Applications for the NEIdeas: Rewarding Ideas for Business Growth challenge will be accepted from May 1 through June 1. Information sessions begin Tuesday.

The applications will be reviewed by a jury of local small business owners and past NEIdeas winners.

Twenty businesses that gross less than $750,000 annually will be selected for $10,000 awards. Two business that gross more than $750,000 and less than $5 million annually will be selected for $100,000 awards.

NEIdeas has awarded $1.5 million to 96 local businesses since 2014 and connected others to technical assistance opportunities.

 
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