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
Business Assistance Awards
Detroit-based small businesses can now apply to receive awards between $5000- $25,000 for professional services.
Detroit Means Business is partnering with local professional service providers to offer business assistance awards for services, including accounting, web development, food packaging and labeling, and more.
Eligibility:
Detroit-based small businesses
Terms:
Max Amount:
$25,000
Program deadline:
Application deadline:
Learn More
Motor City Match
Motor City Match is designed to assist Detroit entrepreneurs at critical stages of their business development - from idea to open. The program connects new and expanding businesses with services and space to grow, providing them with the funding and tools to fuel the city’s entrepreneurial revolution.
Eligibility:
- must be located within the City of Detroit for at least three (3) years
- provide verification of new jobs created or existing jobs retained
- demonstrate a benefit to the community.
Terms:
- Awardee businesses must contribute a minimum of 10% of the total project costs in equity investment
- Financial Assistance Award Grants will not exceed 50% of total project costs
- Cash Track Grants are an average of $50,000
- Restore Track Grants are an average of $25,000
Max Amount:
$100,000
Program deadline:
Application deadline:
11:59 PM, Oct. 9, 2023