KALAMAZOO, MI (WKZO AM/FM) — Many Kalamazoo small businesses will now have access to another program to help them survive during the COVID-19 outbreak.
The United Way of the Battle Creek and Kalamazoo Region has announced a new grant program for “micro-businesses” located in the city.
United Way officials say the targeted program is being conducted in partnership with the City of Kalamazoo. The organization currently administers the Kalamazoo Small Business Loan Fund, which was set up in March by the city commission to assist small businesses affected by COVID-19.
The new micro-business program specifically targets more vulnerable operations with 10 or fewer employees.
Criteria for meeting the $5000 grant requirements say that applying businesses must also generate less than a million dollars in revenue each year and contribute valuable services to the nearby community.
“This new grant initiative shows again how the power of partnership makes a difference. We’re excited to apply our expertise in grant-making to benefit this crucial business sector and Kalamazoo as a whole,” said President and CEO Chris Sargent in a released statement.
The United Way’s website says that top consideration will be given to micro-businesses owned by people of color, or women. A secondary factor for consideration will be whether the businesses are located in Shared Prosperity neighborhoods like Edison, Northside, or the Eastside.
A review committee set up by the United Way is expected to make funding decisions by June 1st.
Eligible businesses include any for-profit enterprise that can demonstrate the following:
- Is located in the City of Kalamazoo;
- Has 10 employees or less;
- Has been in operation for at least 1 year;
- Has annual revenue of $1.0 million or less;
- Needs working capital to support payroll expenses, rent, mortgage payments, utility expenses, or other similar expenses that occur in the ordinary course of business or that demonstrate an effort to support public health;
- Is able to demonstrate an income loss as a result of the state’s executive order, or the COVID-19 outbreak.
Grant applications for the program must be submitted by 5 p.m. on Wednesday, May 27th on the United Way’s website.
