New grant helps some Michigan small businesses grow

Courtesy: MGN Online
Small Business Expo (Courtesy: MGN Online)

DETROIT (AP) - Small businesses in Detroit, Hamtramck and Highland Park can apply for $400,000 in grants to help them grow.
The New Economy Initiative program targets companies that are at least three years old.
Applications for the NEIdeas: Rewarding Ideas for Business Growth challenge will be accepted from May 1 through June 1. Information sessions begin Tuesday.
The applications will be reviewed by a jury of local small business owners and past NEIdeas winners.
Twenty businesses that gross less than $750,000 annually will be selected for $10,000 awards. Two business that gross more than $750,000 and less than $5 million annually will be selected for $100,000 awards.
NEIdeas has awarded $1.5 million to 96 local businesses since 2014 and connected others to technical assistance opportunities.