EDA Announces 2024 Small Business Grant Program & Funding Opportunity

August 20, 2024

Listen to Dan Casey, Bruce Seymore and Kristy Jones (pictured) from the EDA of St. Clair County share details about this exciting new Grant Program on EDA's Our Shoreline Your Horizon podcast recorded at WGRT 102.3 FM: (listen now) 

The Eastern Michigan Small Business Network (EM-SBN) will begin accepting applications next week for consideration for its 2024 Small Business Grant Award Program. Applications open on Tuesday, August 27, 2024 and close on Tuesday, September 24, 2024.

The 2024 Small Business Grant Award Program will provide awards of up to $20,000 to eligible small businesses in the six-county region to support their growth and development. Most grant awards will be in the $5,000 to $10,000 range. No more than $213,158 in total grants will be awarded in the 2024 round. A second round of grants will also be awarded in 2025. Applications will be scored based upon responses. The applications with the highest scores in each of the six counties will be awarded funds.

The EM-SBN received a Small Business Support Hub grant award from the Michigan Economic Development Corporation (MEDC) to help launch and grow small businesses in Shiawassee, Lapeer, Tuscola, Huron, Sanilac, and St. Clair counties. This program utilizes a portion of the state’s American Rescue Plan (ARPA) funding. 

EM-SBN expands Michigan Small Business Development Center services, coaching, and mentoring, access to capital, and provides intense counseling and assistance for up to forty small business clients per year through the region’s Entrepreneurial Cohort Program. Complete information on the EM-SBN is available at https://www.easternmichigansmallbusinessnetwork.com/. 

 A full list of details regarding the grant, including eligibility criteria and eligible/ineligible expenses can be found at: https://www.easternmichigansmallbusinessnetwork.com/general-8.  A few of the key grant program details are listed below:

• Small Business grant awards up to $20,000 (most expected to fall in $5K-$10K range)
• Competitive Grant Program (Awards to highest scoring applicants in each county)
• Business MUST be physically located or the company’s owner must reside in one of the six participating Region 6 counties (Shiawassee, Lapeer, Tuscola, Huron, Sanilac or St. Clair County)
• Eligible uses of grant funding include:  equipment, furniture and fixtures, inventory, software and/or hardware, up to $4,999 per unit as well as other uses (see full list on the website or grant application)
• Some of the ineligible expenses include: payroll, building-based constructions costs, gifts or prize money (see full list on the website or grant application)

“We are pleased to present such an amazing funding opportunity to our Region 6 communities,” said Dan Casey, CEO of the Economic Development Alliance and Administrator of the Eastern Michigan Small Business Hub grant.  “As we all know, capital is essential to growing businesses. These funds also will help businesses that have been negatively impacted by COVID-19.”

Online grant application opens Tuesday, August, 27, 2024
Online grant application closes Tuesday, September 24, 2024
Grant application review including company eligibility verification Wednesday, September 25, 2024 through Wednesday, October 9, 2024
Grant award announcement Tuesday, October 15

The 2024 Small Business grant program is being administered by the Economic Development Alliance (EDA) of St. Clair County, Michigan.  The EDA is working closely with participating Region 6 partners and key partners such as the MI-SBDC to successfully promote and administer this grant opportunity.

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About the Eastern Michigan Small Business Network:

The Eastern Michigan Small Business Network is a partnership of organizations committed to serving the needs of startup and small businesses in Michigan's central eastern region. The primary goal of the Network is to accelerate the entrepreneurial pathway to success.  As part of a recent $2.5 million Small Business Support Hubs (SBSH) program grant award from the Michigan Economic Development Corporation (MEDC), the new Small Business Cohort aims to strengthen and improve our region’s entrepreneurial ecosystem and help people realize their dream of being self-employed.   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. https://www.easternmichigansmallbusinessnetwork.com/

About EDA of St. Clair County
The Economic Development Alliance (EDA) of St. Clair County is a private non-profit organization that creates economic prosperity by growing companies and cultivating vibrant communities.  The EDA is a full-service economic development agency working in the areas of business attraction, retention and expansion, community development, small business development, talent attraction and regional marketing.  The EDA’s mission to enhance the prosperity and growth of our region’s economy is made possible by the generous support of EDA private & public sector investor members passionate about supporting community and economic development.  To learn more about the Economic Development Alliance of St. Clair County visit:  https://edascc.com/