Chris Holman welcomes back Kim Bode, Dog rescuer, community advocate, and proud Michigan business owner, 8THIRTY FOUR Integrated Communications, Grand Rapids, MI.
Watch Kim and Chris discuss SBAM’s Women’s Fellowship, helping Michigan women-owned firms scale with capital, mentorship & networks in the YouTube video shared below:
Chris had several questions for Kim in this conversation:
Welcome back Kim, the fellowship you shared about a couple times in the past year is back for a second, tell us about it?
SBAM designed the Women’s Entrepreneurial Fellowship specifically for second-stage businesses—why is this growth stage such a critical point for women entrepreneurs?
Access to capital remains a major barrier, with women receiving significantly smaller loans and less venture funding—how does the fellowship help bridge that gap?
The program emphasizes customized mentorship and peer networking. What measurable impacts did you see from the first cohort, and how will those lessons shape this next one?
Michigan women own over 44% of small businesses—how does the fellowship leverage SBAM’s statewide network to amplify their economic impact?
For companies generating $500,000–$1 million in revenue, what key challenges are you seeing most often, and how does the fellowship address them differently than traditional programs?
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Empowering Women Entrepreneurs in Michigan
The Women’s Entrepreneurial Fellowship addresses what happens after the initial success of building a business. When entrepreneurs have proven what they’re capable of, but find themselves navigating increasingly complex challenges without adequate support systems designed for their stage of growth.
If you’re not a woman entrepreneur yourself, chances are you know someone who would thrive in this program—please share this opportunity with your network!
Here’s what fellows can expect:
- Monthly Full-Day Workshops: Real-world sessions focused on the challenges of scaling a business—financial strategy, team leadership, long-term planning—and space to ask the tough questions.
- One-on-One Mentorship: Personalized guidance from seasoned mentors who help translate workshop insights into actionable steps.
- Peer Collaboration: A powerful network of women entrepreneurs who become sounding boards, collaborators, and trusted allies.
- Expert Coaching: Targeted sessions with subject-matter experts to assess and strengthen key areas of each business.
Applications are due early next week—don’t wait!
What Are You Waiting For?
“Honestly, if you’re a woman business owner in the area or the state of Michigan, this is one of those opportunities that I would not pass up. It brings you a group of people who understand what you’re going through and can elevate your business along with yourself.” – Lillian Werbin, CEO & Co-owner, Elderly Instruments
Below is an MBN interview with Lillian about her experience in the inaugural program
The Small Business Association of Michigan Expands Statewide Program for Second-stage Women-owned Businesses The Women’s Entrepreneurial Fellowship opens applications for a fall cohort to address resources, support, and funding gaps for Michigan women entrepreneurs.
The Small Business Association of Michigan, through the SBAM Foundation, is accepting applications for the second cohort of the Women’s Entrepreneurial Fellowship (WEF), the state’s only comprehensive program designed specifically for women-owned businesses that have moved beyond the startup phase. Following the success of its inaugural class,
the program will expand to serve 15 participants, with applications due mid-September and programming beginning late fall.
“Michigan women entrepreneurs bring bold ideas and unstoppable determination, but too often they lack access to the mentorship and networks that can accelerate their success,” said Amy Rencher, Senior Vice President, Small Business & Talent at the Michigan Economic Development Corporation (MEDC). “This unique fellowship program closes that gap, fueling connections with experienced leaders who can open doors,
share hard-earned wisdom, and help turn vision into thriving businesses that strengthen our communities and our economy.”
The fellowship addresses documented disparities that create significant economic opportunity gaps. According to the Wells Fargo 2025 Impact of Women-Owned Businesses Report, if women-owned businesses achieved the same average revenue as men-owned businesses, the U.S. economy would see an additional $10.2 trillion in revenue annually. In Michigan, women own 44.2% of small businesses—902,131 enterprises—yet they receive loans 50% smaller than their male counterparts. Only 2.3%
of venture capital reaches women-led firms, while nearly 1 in 3 female entrepreneurs report experiencing sexism as business owners.
The WEF methodology and program were designed by women-owned small businesses who understand firsthand the challenges of working in and on the business while trying to scale. The nine-month program begins with a comprehensive needs assessment for each participant, ensuring the curriculum, coaching, peer networking, and mentorship directly address real business obstacles rather than push generic leadership concepts.
Sessions focus on practical challenges—financial decisions, team dynamics, long-term strategic planning, access to capital—while leaving structured space for questions without easy answers. Between sessions, fellows meet individually with experienced mentors matched based on industry expertise and specific business needs. Additional coaching sessions with subject-matter experts provide specialized guidance across
operational areas.
The program leverages the Small Business Association of Michigan’s network of over 33,000 members, creating connections that extend well beyond the nine-month fellowship. This integration of entrepreneurship support, networking, and business resources delivers sustained value that other programs cannot replicate.
“The WEF Program is like entering Willy Wonka’s Chocolate Factory. So many good things to discover and learn about. So many connections being made and opportunities to learn and grow. The WEF Program is definitely worth the investment of your time,” said Lillian Werbin, Co-Owner of Elderly Instruments.
The first cohort’s outcomes demonstrate the program’s practical approach to addressing genuine market needs. Participants consistently emphasize receiving “lots of resources,” including dedicated mentorship and valuable peer connections across the state, according to Jane Mitchell of Jungle Jane Promotions.
The cohort’s diversity—spanning manufacturing through Pioneer Machine and Technology, retail through Elderly Instruments, hospitality through Groovy Donuts, and specialty services through Wolverine Pickleball—validates the Small Business Association of Michigan’s ability to serve women entrepreneurs across Michigan’s varied economic sectors. These established, growth-oriented businesses represent the type of second-stage companies that require sophisticated support for scaling operations.
“As we saw with the first cohort, true impact happens when women leaders feel seen and supported,” said Sarah Miller, Vice President of Operations at the Small Business Association of Michigan. “The Small Business Association of Michigan’s network makes this possible at scale, bridging regional gaps and bringing together expertise from all corners of Michigan.”
The fellowship prioritizes businesses generating $1 million in annual revenue, though companies at $500,000 and above with established teams and a minimum of three years of operation will be considered based on available capacity. Applications are due mid-September, and the program launch is scheduled for late September or early October.
Organizations interested in supporting the fellowship through sponsorship, mentorship, or strategic partnership can contact program leadership directly. Partners gain access to Michigan’s most successful women entrepreneurs while contributing to measurable economic outcomes.
For application details and partnership information, visit sbamwef.org. Direct inquiries can be directed to Kim Bode at kim@sbamwef.org or Sarah Miller at sarah.miller@sbam.org.
About SBAM Foundation:
The SBAM Foundation is a 501(c)(3) organization that promotes small business growth in Michigan through education, research, and innovative programs. Funding provided by the Small Business Support Hub Grant Program from the SBAM Foundation in partnership with the Michigan Economic Development Corporation. This project is being supported, in whole or in part, by federal award number SLFRP0127 awarded to the State of Michigan by the U.S. Department of the Treasury.
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