Entrepreneur Support Grant

The Entrepreneur Support Grant (ESG) will deploy up to $2 million to support one or more small businesses that successfully deployed Inclusive Entrepreneurship Support grant funding in 2024 as a means of follow-on investment.

 

Additional Program Information:

The MEDC will administer this initiative to bring new and more comprehensive resources to small businesses by providing direct grant support.  Eligible applicants that address competitiveness measures, as well as include key performance indicators for community and economic development impact will score higher for this funding opportunity. We are seeking a project with the greatest impact on economic prosperity factoring in:

  • Job Creation/Retention
  • Regional Impact
  • New Contracts or Revenue
  • Project Wages
  • Leveraging Other Federal, State, Local Funding
  • Increased Revenue

 

Eligibility criteria:

  • Be registered to do business in Michigan
  • Be a small business with 500 employees or less
  • Be in good standing with all state departments including, but not limited to, LARA and the Michigan Department of Treasury
  • Exceptional and previously awarded grantee through IESG 1.0, for the purposes of follow-on funding

 

Program Goals:

ESG is intended for entrepreneurs located in a geographically disadvantaged business area. Applicants who address competitiveness measures as well as include key performance indicators for impact on community and economic development will score higher for this funding opportunity.

 

Timeline and Application:

The application will be open from February 28, 2025 – March 14, 2025, and selected grantees will have until March 31, 2028, to complete the projects proposed.

Apply Here

 

Eligible Costs and Activities:

Eligible costs include, but are not limited to, hard costs for construction for the project, payroll and other operating costs, infrastructure, machinery, equipment, tooling, computers, furniture, fixtures, lease payments, costs related to talent recruitment and job training. Other costs may be considered at the discretion of the MEDC. “Hard Costs” means the Company’s actual expenditure of funds for the Project for at least one, or any combination of, the following the following six (6) categories:

  • Demolition/Land Acquisition. Any fees or costs for demolition, removal, or disposal of any existing buildings, structures, machinery, equipment, and fixtures at and for the Project, and the cost to purchase the real property at the Project;
  • New construction. Any fees or costs for construction of new buildings, structures, improvements, and fixtures at and for the Project;
  • Other Alteration, Improvement, or Rehabilitation. Any fees or costs for other alterations, improvements, or rehabilitations of existing buildings, structures, improvements, and fixtures at the Project;
  • Site Improvement. Any fees or costs for site improvements to the Project, including parking lots, parking garages, parking ramps, utilities, improvements, and infrastructure, such as roads, curbs, gutters, sidewalks, landscaping, lighting, tree clearing, grading, earthwork, and land balancing;
  • Machinery and Equipment. Any fees or cost for the addition, removal, disposal, or modification of machinery, equipment, special tooling, furniture, fixtures at the Project;
  • Professional Fees. Professional fees or costs for architectural services, engineering services, environmental services, surveying services; or other. Any utility tap and construction fees, and fees and costs paid to a governmental entity for permits, zoning, and inspections in connection with the foregoing activities at and for the Project.

 

Fund Disbursement:

This is a reimbursement-based program, with 50% of funds advanced. An initial disbursement of 50% of the Grant funds shall be made by the MEDC to the Grantee within ninety days of execution of this Agreement by both Parties (the “Initial Payment”). Additional funds shall only be disbursed after verification that the previous payment has been expended, in full, in accordance with this Agreement and Grantee’s Budget, including providing appropriate supporting documentation. A second, and final, payment of the remaining 50% of the Grant funds under this Agreement shall be made by the MEDC to Grantee upon receipt and approval by the Grant Administrator of Grantee’s supporting documentation showing that the remaining costs for which payment is requested have been appropriately expended in accordance with Grantee’s Budget.