The Main Street Micro Business Startup Grant Program, a collaboration between Main Street Oakland County (MSOC) and Genisys Credit Union, aims to bolster economic vitality and foster entrepreneurship within local communities. This initiative directly aligns with MSOC's broader mission to support the attraction, retention, and growth of small businesses in historic downtowns and neighborhood commercial corridors. The program serves as a critical component of MSOC's economic development strategies, reinforcing their commitment to vibrant local economies.
The program's target beneficiaries are micro businesses, categorized as either in their startup phase (0 to 1 year old) or existing (1 to 5 years old). These businesses must be located within one of the designated Main Street Districts in specific Oakland County cities, including Auburn Hills, Berkley, Clarkston, Clawson, Farmington, Ferndale, Franklin, Highland, Holly, Lake Orion, Ortonville, Oxford, Pontiac, Rochester, Royal Oak, or Wixom. Downtown organizations are also eligible to apply and can assist local businesses with matching funds, extending the reach and impact of the program.
The grant prioritizes activities that directly support the establishment, growth, or relocation of micro businesses. Eligible uses for funding include location renovations and preparations, rent assistance programs, equipment purchases, outdoor improvements, and required permits and fees. Other uses deemed appropriate to support business creation, relocation, or expansion are also considered. The maximum grant award is $2,500, designed to provide crucial seed funding or support for critical operational needs.
The expected outcomes of this program include the creation of new micro businesses, the successful relocation and expansion of existing ones, and the overall strengthening of economic activity within the Main Street Districts. By providing financial assistance for key startup and growth expenses, the program aims to reduce barriers to entry for entrepreneurs and enhance the sustainability of small businesses. Measurable results would likely include the number of businesses supported, job creation, and the successful completion of eligible activities, all contributing to the revitalization and economic resilience of the participating communities.
