“We are grateful to be able to partner with ChoiceOne Bank to bring this competition back for a second year,” said Karena Hamlet, program director of business services for the Flint & Genesee Economic Alliance. “They’ve been extremely supportive of the Small Business Support Hub and our efforts to help small businesses in Genesee County grow and thrive.” The prize for the Startup Lane is $5,000, and for the Micro Lane, it’s $10,000. This competition is open to individuals whose business address is located within Genesee County and classified as low or moderate income (LMI).
To determine LMI status, applicants can visit GeoMap.ffiec.gov/ffiecgeomap, enter their address, and select Census Demographic Data. An address is classified as LMI if the Tract Income Level is listed as either Low or Moderate. For inconclusive results or additional assistance, applicants can contact the Flint & Genesee Economic Alliance at 810-600-1414.
To apply, a business must submit a business plan and up-to-date articles of incorporation and be in good standing with the Michigan Department of Licensing and Regulatory Affairs (LARA).
Businesses selected to advance in the competition must attend a mandatory training session on Oct. 16, from noon to 1:30 p.m.
Following this training, six finalists – three from each track – will be selected to compete in the final pitch event on Oct. 21 from 4 to 9 p.m. at the Michigan CRA Association Community Reinvestment Conference hosted at the Gateway Center Wyndham Hotel.
