Motor City Match Grant
Motor City Match
About the Grant
The Motor City Match Cash Track provides Detroit-based businesses with gap funding grants of up to $100,000 to help close a project's financing gap and open a new brick-and-mortar location to the public. Administered by Motor City Match, the Cash Track is open to both new businesses opening their first Detroit location and existing businesses opening an additional Detroit location, with the average grant award totaling $50,000. Grants are need-based and are designed to fill the funding gap remaining after applicants have secured other capital, with the award typically not exceeding 50% of total project costs and requiring at least 10% owner equity. In addition to grant funding, the program supports applicants with financial planning and project management assistance, lender networking events that connect businesses to community lending partners, and facilitated introductions to help applicants close any remaining loan financing they may need. Awardees that open are also promoted through Motor City Match, DEGC, and Detroit Means Business channels, providing additional publicity for the business. Businesses already open and expanding within their current space are not eligible to apply.
Notes
Related Grants
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