MUSKEGON, Mich. — A new initiative is helping to fund the future of businesses owned by women of color in Muskegon.
Dreaming of owning a business is one thing, but actually making that dream a reality and keeping the business afloat is another. Ana Jose with Michigan Women Forward says that's especially true for women of color.
“When you have been trying to get funding when you have been trying to get the assistance that you need, and no one had been able to help you getting something,” said Jose.
She says historically it has been an issue for women of color and minority women to actually get funding. But, a new initiative is giving them hope in the form of funding. It’s called the Business Equity Initiative fund – or BEI – and was created by three women from Muskegon who wanted to make a difference.
“They wanted to just help women entrepreneurs, they wanted to be that change that we all talk about, but they decided to get up and do something about it,” said Jose.
They dug into their personal savings to help create the fund with grants totaling $20,000 and a goal of raising up to $100,000.
“Basically level the playing field and ensure that people get the funding that they need in order for them to keep doing what they love to do,” said Jose.
The program is for existing businesses running for one to three years in Muskegon County. Applicants have the chance to receive anywhere from $1,000 to $5,000 for their business.
The money can be used for almost anything, including paying a lease, buying machinery, and even creating a marketing strategy. Creating new possibilities for businesses owned by women of color, and keeping that dream alive.
“It's so much easier for us to say that we want people to succeed, but it's a huge difference when you get up every morning and you actually say this is the day that we're going to make a difference in someone else's life, and that's what we're trying to do,” said Jose.
The BEI fund is held at the “Community Foundation for Muskegon County”. The application window is open through June 30th. If you would like to donate to the fund you can do so by visiting Michigan Women Forward’s website.
