LaunchDETROIT, a micro-loan program developed by Rotary District 6400, will host an informational Open House for Detroit entrepreneurs and small businesses from 4:30 p.m. to 6 p.m. on Thursday, August 20, 2015. The event will be held in southwest Detroit at Grace in Action Church and Collectives, located at 1725 Lawndale.
LaunchDETROIT is a multi-pronged program that offers qualifying entrepreneurs a combination of free business training, micro loans of $1,000 to $2,500, assigned business mentors and networking opportunities.
“We are entering the third year of this program and are currently accepting online applications to select our next group of entrepreneurs,” said Rotarian Lawrence Wright, president of the LaunchDETROIT initiative. “Our mission is to support and develop small businesses in under-resourced communities in the Detroit region.”
According to Wright, LaunchDETROIT has received international attention and is being documented by Rotary International, the world’s largest service organization headquartered in Evanston, Illinois.
Beginning in October, qualifying applicants will receive business training provided by instructors from Baker College in Allen Park during eight three-hour classes, held once a week. Upon completion of business training and business plan presentations, the LaunchDETROIT selection committee will interview candidates for the micro-loans. Each candidate is also assigned a business mentor to work closely with them throughout the program.
Successful candidates must have a business product or service that will enable them to repay their loan within one year through regular installments.
Additional information will be provided at the August 20th Open House. Guests will also have an opportunity to talk with some of the entrepreneurs currently participating in the program. The online application is available at www.LaunchDetroit.org, and the deadline to apply is Friday, August 21, 2015.
LaunchDetroit is a non-profit program powered by Rotary volunteers from District 6400, which serves southeast Michigan and southwest Ontario. Questions may be emailed to contact@LaunchDetroit.org.