KALAMAZOO, MI (WKZO AM/FM) – A local partnership is bringing $450,000 in crucial funds to strengthen 90 Kalamazoo microbusinesses.
United Way of the Battle Creek and Kalamazoo Region (UWBCKR), the City of Kalamazoo and the Foundation for Excellence (FFE) jointly announced the second round of Kalamazoo Micro-Enterprise Grants (KMEG) for the second consecutive year.
In 2020, the partnership granted $500,000 to 100 eligible businesses to help them cope with the economic impact of the COVID-19 pandemic.
“Micro-enterprises bring vital energy to our local economy,” Senior Director of Strategy & Innovation at UWBCKR Natalie Saucedo said. “More than that, because many of these businesses are owned by entrepreneurs from historically under-resourced populations, their success helps build a more equitable community. These grants will make a powerful difference for the smallest businesses in Kalamazoo. We’re proud to be part of this unique and special effort with the City of Kalamazoo and the Foundation for Excellence.”
KMEG is providing grants of $5,000 to eligible microbusinesses within the city limits.
The Kalamazoo City Commission approved funding for KMEG in March, and UWBCKR solicited and reviewed grant requests during the summer. As a result, 90 micro-enterprise businesses within the city limits are receiving grants.
The new round of grants aims to support community members living below the ALICE (Asset Limited Income Constrained and Employed) threshold, with a strong focus on providing support to BIPOC-owned and women- owned microbusinesses.
BIPOC stands for Black, Indigenous and other people of color.
Historically, officials say BIPOC- and women-owned businesses have struggled to access funding compared to other businesses, and they were hit especially hard by the economic fallout of the COVID-19 pandemic.
“Micro-enterprises bring so much to our community,” Community Investment Manager for the City of Kalamazoo Antonio Mitchell said. “When we invest in their success, we are not only investing in the entrepreneurs and employees behind them, but in the products, services and businesses that we all enjoy and that make Kalamazoo the vibrant community it is.”
Officials with the FFE also released a statement.
“Entrepreneurs and small business owners create jobs, economic activity, and hope for Kalamazoo,” FFE Manager Steve Brown said. “Economic prosperity aligns powerfully with the FFE’s purpose to reduce generational poverty and mission to help all residents create the lives they want for themselves and their families.”
According to Saucedo:
- 57 grants (63% of the total) went to business owners who identified as BIPOC or multiple races.
- 37 grants (41%) went to business owners who identified as women or non-binary.
- 31 grants (34%) went to businesses in the Shared Prosperity Kalamazoo neighborhoods.
- 78 grants (87%) went to businesses with 2020 revenues of less than $250,000, making a $5,000 award a meaningful investment in their business.
For a complete list of the 90 KMEG recipients and more details on the grants, go to changethestory.org/micro-
More information about the FFE can be found here.
