A new state initiative is designed to connect startup and growing businesses in Michigan with funding sources, according to a recent announcement from Gov. Rick Snyder.
It's called Pure Michigan Business Connect, and corrals $3 billion of both public and private money to bankroll Michigan businesses that are starting up or in the early stages of growth.
The initiative addresses the problem of businesses who are unable to find the right capital and other resources to succeed, according to the announcement. Partners in Pure Michigan Business Connect include state agencies like the Michigan Economic Development Corporation, banks like Export Import Bank and Huntington National Bank, energy companies including Consumers and DTE Energy, and many other economic development groups.
"This is an invitation to Michigan's business community, companies that have supply needs or funds to lend and those that are looking for new opportunities, all are encouraged to join Pure Michigan Business Connect," says Michael Finney, MEDC President and CEO.
A new
website has also been launched to help businesses explore the new initiative and take advantage of the resources it offers.
Writer: Sam Eggleston
Source: Michael Finney, Michigan Economic Development Corporation
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