Entrepreneurs of Color
“ For Detroit’s comeback to be a true success, there must?be opportunity for the Detroiters who stayed.”?– Detroit Mayor Mike Duggan
A new source of business capital for Detroit businesses owned by entrepreneurs of color and businesses that primarily hire people of color.
Three organizations – the Detroit Development Fund?, JPMorgan Chase and the W.K. Kellogg Foundation – have come together to provide business owners greater access to capital and business assistance. The loans range from $50,000 to $150,000 and businesses can use the capital to expand, finance equipment, address short-term cash flow needs and provide contractor lines of credit.
Love Life Swagger
Love Life Swagger, is a Detroit based lifestyle streetware brand that received a $30,000 line of credit to expand its business of providing products for the urban fashion market. Visit Love Life Swagger
House of Pure Vin
House of Pure Vin, a downtown wine shop and tasting room, received?a $145,000 loan to help with start-up costs. Visit House of Pure Vin
Power, Lighting and Technical Services
PLTS received?a $100,000 line of credit and loan. The firm repairs exterior lighting at City of Detroit recreation centers, police stations?and other city-owned buildings. Read more about PLTS