Midtown Detroit, Inc., is announcing the launch of the COVID-19 Small Business Relief Fund, supported by a $100,000 grant from the PNC Foundation. This fund will serve small businesses located within the Woodward Corridor that may be suffering from the economic downturn caused by the COVID-19 crisis.
Grants can be approved for a variety of activities, but will focus on efforts to grow, stabilize, or pivot business models. Fifty percent of the funding will be prioritized for woman-, minority-, and/or immigrant-owned businesses.
The application period is open through Aug. 31, followed by a two-week review period. Applications will be evaluated and scored by a review committee consisting of area residents. Approved businesses will begin receiving funding in mid-September.
“Midtown Detroit, Inc. is excited to launch this effort with PNC,” said Susan Mosey, executive director for Midtown Detroit, Inc. “Small businesses are an important part of our community and we are pleased to be able to offer some additional support during these difficult times.”
“The pandemic has had a devastating impact on small businesses throughout the state,” said Ric DeVore, PNC regional president for Detroit and Southeast Michigan. “We applaud Sue Mosey and her team for their efforts to help businesses during this unprecedented time.”
About Midtown Detroit
Midtown Detroit, Inc. (MDI) is a nonprofit 501(c)(3) organization created to support and enhance community and economic development in the Midtown & New Center areas through collaboration and partnerships with key stakeholders and supportive funders.
This grant is part of a broader commitment announced by The PNC Financial Services Group, Inc. to provide $30 million in charitable contributions in support of coronavirus relief efforts, primarily directed toward basic needs and hardship relief programs across the markets in which PNC operates.
About PNC Foundation
The PNC Foundation, which receives its principal funding from The PNC Financial Services Group
(www.pnc.com), actively supports organizations that provide services for the benefit of communities in which it has a significant presence. The foundation focuses its philanthropic mission on early childhood
education and community and economic development, which includes the arts and culture. Through Grow Up Great, its signature cause that began in 2004, PNC has created a bilingual $500 million, multi-year initiative to help prepare children from birth to age 5 for success in school and life.