Small Business Support Direct Grant Program

20Fathoms, in collaboration with Venture North and additional regional partners, is offering a new round of grant funding to support startups and small businesses in Northwest Michigan. This initiative is designed to provide targeted financial assistance that helps innovative companies grow and scale their operations. The program is highly competitive and prioritizes businesses that are poised to make a significant impact on the local economy. This grant provides average awards of $4,500, intended for the purchase of assets that directly contribute to business expansion. Eligible uses include essential products, software, or technology upgrades that enhance operational capabilities. However, the grant does not cover general operational expenses, marketing costs, or building renovations and repairs. The program is strategically focused on enabling tangible, immediate impacts on business capacity and efficiency. Eligible applicants must be headquartered in one of the following counties in Northwest Michigan: Antrim, Benzie, Charlevoix, Emmet, Grand Traverse, Kalkaska, Leelanau, Manistee, Missaukee, or Wexford. The grant is open to a diverse range of business types, including retail, food and beverage, services, sustainable ventures, manufacturing, artists and makers, and technology startups. The fund particularly encourages applications from individuals underrepresented in business ownership. The application window for this grant cycle is from May 16 through May 25, 2025. Interested applicants must apply online at 20Fathoms.org/apply. Qualified businesses will be invited to meet with the 20Fathoms team to discuss their ventures further, as part of the selection process. This grant program is made possible through a partnership that includes 20Fathoms, the Michigan Small Business Development Center (SBDC), Northern Lakes Economic Alliance, Traverse Connect, and Venture North. Funding is supported in part by a federal award from the U.S. Department of the Treasury, under award number SLFRP0127. For additional information or assistance, interested parties can contact 20Fathoms at their office located at 10850 E. Traverse Hwy, Suite 4400, Traverse City, MI 49684, or by phone at 231-938-6519. A subsequent round of funding is expected to be announced later in 2025.