Timeline
There is one round of applications for this program, as follows:
- Applications go live: November 9, 2020
- Applications due: November 20, 2020 by 5pm EST
- Applicants notified of grant decisions: December 4, 2020
How to Apply
There are three (3) steps to applying:
- Review the eligibility and requirements below before proceeding to make sure your business meets the intent of this program.
- Complete the application.
- Submit required documentation to: bipocgrant@blackleadersdetroit.org
Eligibility Requirements
The following is a list of grant criteria and eligibility requirements:
- Grant amounts are $5,000 per business.
- Businesses with annual revenues no more than $1 million.
- Businesses must have been in existence a year or longer.
- Businesses must be for-profit.
- If a business owner operates more than one business, only one application for a single business will be accepted.
- The business name on the application must match the records with the State, County, and City.
- Certificate of Good Standing.
- The business must have a business address in the Flagstar Bank's key geographies of Michigan, Indiana (South Bend and Fort Wayne) and California (High Desert of San Bernadino County)
- Grants may be used to cover the day-to-day operating expenses of the business, such as rent, working capital, payroll, utility bills or losses due to destabilizing events, etc.
- Grants may by used for transitioning to e-commerce, curb-side pick-up, delivery integrations and other creative soltions to increase revenue
- Agree to share financials and other essential information
- Agree to share change in business as a result of the grant funding
- Read the full eligibility requirements here