This is the final call for the public to respond to the MEDC’s Request for Information to provide recommendations for opportunities to scale or improve existing resources or to create new programs to leverage federal State Small Business Credit Initiative (SSBCI) funding. The federal SSBCI will provide funds to the State of Michigan to support programs for small businesses. Michigan will receive an allocation of $176 million based on a federal formula and will also be competing for an additional allocation based on a competitive application.

The information and feedback the public provides will help the state develop its application and design small business capital and technical assistance programs through an inclusive and equitable lens. Developing a plan around how best to leverage SSBCI funding will be a key component for ensuring small businesses across the state are able to access the capital they need to thrive.

RFI responses are due via email only by Sept. 27, 2021, at 3 p.m. to  contractsandgrants@michigan.org.

Also in the news from MEDC:

Custom Injection Molding Business Thrives with Support from the MEDC’s Capital Access Team 

When Stephen King’s employer decided to offshore and shut down business in 2013, he readily stepped in to buy the 146,000 square foot manufacturing facility, which is now home to Belmont Engineered Plastics(BEP). The company manufactures injection molding, and thermoformed and assembled products to customers in Europe, Latin America, and Asia. The last eight years of business have been a tough road to success for BEP, but the company received critical support from the MEDC and its Capital Access Team along the way. As the company was launching their new business in 2013, MEDC helped BEP attain a grant to continue their injection operations. Six years later, in 2019, the capital Access’ Collateral Support Programallowed BEP to obtain a working capital line of credit through First National Bank, providing the company the funds necessary to purchase equipment and grow their team further.

READ MORE ABOUT BELMONT’S SUCCESS

About Michigan Economic Development Corporation (MEDC)
The Michigan Economic Development Corporation is the state’s marketing arm and lead advocate for business development, job awareness, and community development with the focus on growing Michigan’s economy. For more information on the MEDC and our initiatives, visit www.MichiganBusiness.org. For Pure Michigan® tourism information, your trip begins at www.michigan.org