Business Funding & Scholarships
Let’s say you’re a small business owner looking to build out your enterprise. You’ve looked into loans from private lenders. You’ve spoken with investors. Recently, in a Google search, you stumbled across an article heralding the availability of government grants for small businesses.
Rick DeVos’ venture capital fund will stop giving away $5,000 each week to people with a good business idea. The fund, known as Start Garden, has given $5,000 to nearly 200 entrepreneurs in the last three years.
Based on the success of the program, Huntington Bank has committed another $20 million for loans through the Pure Michigan Micro Lending Initiative, officials announced Thursday.
Michigan is a leading state in creating a legal framework for crowdfunding, which allows businesses to solicit needed funds from small investors using the Internet.
Proposed legislation would allow Michigan businesses to use crowdfunding websites to seek investments in exchange for company shares.