MHCC Receives $100,000 Grant to Assist Small Business Owners in Lincoln Park

The Michigan Hispanic Chamber of Commerce (MHCC), through its 501(c)3 foundation, the Michigan Hispanic Fund, was recently granted $100,000 by the New Economy Initiative (NEI) organization. The MHCC plans to utilize the 12-month grant for the launch of a groundbreaking program called “Adelante Michigan,” which focuses on equipping underserved Hispanic-owned micro businesses in Lincoln Park.

The New Economy Initiative is providing new support for underserved small business owners in Wayne County as it works to build on its success in supporting an inclusive entrepreneurial ecosystem in Detroit. The organization recently announced more than $3 million in grants to nonprofit business support organizations that work directly with small businesses in underserved populations, including women, immigrants, and people of color.

“Small business owners have tremendous potential to increase wealth in their neighborhoods, but as we saw during the pandemic, they face additional barriers to accessing the capital and resources they need to thrive,” said Wafa Dinaro, executive director of NEI. “We’re working to build a stronger network to support women- and minority-owned businesses. Their success is key to building a more resilient new post-pandemic economy.”

NEI is awarding the grants to nonprofit business support organizations that will provide micro loans, technical assistance such as accounting, legal and marketing services or business plan development, and other assistance directly to small businesses. As part of the effort, 22 nonprofit business support organizations will receive a total of $3.055 million in grants, which individually range from $50,000 to $200,000.

“We are so grateful for the support and partnership with NEI Detroit, who has also been a strong supporter of our organization’s mission,” said Mark Moreno, MHCC Executive Director. “This incredible opportunity will enable us to make a profound and lasting impact on the Lincoln Park community for years to come.”

Adelante Michigan delivers services to close the entrepreneurial gaps, focuses on direct outreach to communities where English is a second language, and targets specific sectors of the underrepresented Hispano/Latino entrepreneurial community. It provides the same access and opportunity to education, networks, technical assistance training, capital, and entrepreneurial skills/competencies resources as other non-Latino communities.

Adelante Michigan supports the needs of underserved small businesses that face bilingual challenges, seeking to close the economic gap, create jobs specific to the needs of the community, promote generational wealth, and drive greater equity toward the socially and economically disadvantaged. This program is open to Hispanic micro-businesses located in Lincoln Park, Wayne County and is set to launch later in July 2023.

The NEI funding is part of an effort originally announced in June and is made possible by support from the Community Foundation for Southeast Michigan, Ford Foundation, Hudson-Webber Foundation, JPMorgan Chase, The Kresge Foundation, Ralph C. Wilson Jr. Foundation, W.K. Kellogg Foundation, and William Davidson Foundation. Additional grants in support of this initiative will be announced in 2023.

Mensaje especial:

Invitamos cordialmente a la comunidad de emprendedores de Lincoln Park a que se conecten con nosotros si están interesados en descubrir más sobre el programa Adelante. Estamos encantados de compartir los detalles, beneficios y oportunidades disponibles a través de esta iniciativa de empoderamiento. Para más información, contacta Laura Geftos en lgeftos@mhcc.org.