More than 100 small businesses around Michigan will utilize the MEDC’s MI Local Biz crowdfunding program in June to support reopening efforts across the state. MEDC will provide a total of $500,000 in matching grants to help the businesses as they work to recover from the negative economic impacts of the COVID-19 crisis.
Launched in May, the MI Local Biz program builds on the MEDC’s successful Public Spaces Community Places (PSCP) program, allowing a small business to utilize donation-based crowdfunding through Michigan-based Patronicity’s platform and to receive a 1:1 matching grant from MEDC of up to $5,000. Funds provide businesses with working capital in order to maintain operations through the COVID-19 crisis.