Funding available for Small Businesses in Detroit

The Detroit Legacy Business Project (DLBP) is a new initiative launched by the City of Detroit to provide financial and technical support to small businesses that have operated in the city for 30 years or more. With a total fund of $500,000, the program will award 16 grants to qualifying businesses: 14 grants of $15,000 each, with two awarded in each of Detroit’s seven council districts, and two larger, citywide grants of $50,000 each. The initiative also introduces a Legacy Business Registry to formally recognize and support these businesses as essential cultural and economic pillars of Detroit. Eligible businesses must have a history of 30 or more years of continuous operation within Detroit and must demonstrate their cultural and community impact through their products, services, or engagement. Only independently owned and operated businesses with physical locations accessible to the public are eligible. Funding can be used for business growth and improvement activities, including inventory, equipment purchases, building beautification, and business consulting. The application period for the program runs from November 21, 2024, at 5 p.m. until December 23, 2024, at 8 a.m. Grant recipients will be announced on February 21, 2025. Applications must be submitted through the official program website, detroitmi.gov/opportunities/detroit-legacy-business-project. In addition to financial support, the Legacy Business Registry will offer participating businesses access to technical resources and designate them as Detroit Legacy Businesses, further acknowledging their importance as economic and cultural assets. This registry aims to track and celebrate businesses that have played a vital role in the city’s history and provide them with ongoing support. The program emphasizes the significance of these businesses as drivers of economic stability, job creation, and cultural identity in Detroit. Business owners interested in applying are encouraged to review the program’s requirements and submit their applications promptly to secure consideration. For additional information, applicants can visit the program’s website.