From: Whipple, Deb (GOV)
Sent: Thursday, February 04, 2010 4:49 PM
Subject: What the Governor is Talking about Today

Importance: High
What the Governor’s Talking about Today

Thursday, February 4, 2010

 

Governor Underscores Small Business Financing, Entrepreneurship Initiatives to Help Grow Michigan’s Economy, Create Jobs

The governor today joined with the Michigan Small Business and Technology Development Centers (MI-SBTDC), Michigan Credit Union League (MCUL) and FastTrac NewVenture program clients at TechTown in Detroit to discuss two new programs available to help small- and medium-sized businesses grow in Michigan.  The programs were first announced by the governor in her State of the State address as part of a broader agenda to help businesses thrive in Michigan.

 

The governor said the Michigan Economic Development Corporation (MEDC) is providing funding to expand FastTrac NewVenture, a program for entrepreneurs to learn how to successfully launch and grow a small business.  The MEDC has pledged $200,000 to expand the program in 2010, making it available statewide.  Together, 1,000 prospective entrepreneurs are expected to benefit.

 

Together with the MCUL, the governor also discussed the creation of the Michigan Small Business Financing Alliance.  In partnership with the MEDC and MI-SBTDC, more than 30 credit unions have committed an initial $43 million for small-business loans.  Assuming an average loan size of $20,000, the $43 million will allow credit unions to help about 2,150 small businesses statewide.

 

The other programs announced by the governor in her State of the State address to help businesses thrive in Michigan are:

 

 

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