Foundations, GM pledge pandemic relief funding
100 small businesses in city to benefit
A new collaborative is committing $200,000 to support about 100 small businesses in Pontiac through coronavirus relief funding.
Eight foundations, along with General Motors, announced the formation of the Pontiac Funders Collaborative on Wednesday, May 14. With a three-year commitment, the group eventually plans to support workforce development, entrepreneurship and the development of public spaces in the city. Its first grant program, the Small Business Capital Relief Fund, will open for applicants on Monday, May 18. Homebased businesses can apply for up to $2,500 while brick and mortar businesses can apply for up to $5,000.
Applications will remain open until Tuesday, May 26 with grants being distributed in early June. A second round of applications will open on Monday, June 8. The collaborative is estimating the program will help support 100 small businesses in Pontiac.
“The Pontiac Funders Collaborative is still early in its efforts but has already begun working in close partnership with local government and nonprofit organizations over the last several months to support development of a collective plan intended to help strengthen Pontiac and its institutions and contribute to residents’ ability to thrive,” Lavea Brachman, vice president of programs for the Ralph C. Wilson, Jr. Foundation, said.
A second grant program to support nonprofit organizations will be announced in the coming weeks. The collaborative has so far distributed $150,000 in grants to local human service agencies helping the public through the pandemic.
Managed by the Community Foundation for Southeastern Michigan, the collaborative includes: Ballmer Group, the Vera and Joseph Dresner Foundation, the Flagstar Bank Foundation, General Motors, New Economy Initiative, the Ralph C. Wilson, Jr. Foundation, the Tauber Family Foundation and the William Davidson Foundation.
“It is important for us to give back to the communities in which we serve and our hope is that through this collaborative, we can help Pontiac continue to build upon its legacy as a great place to live and as a vital city to southeast Michigan’s culture and economy,” Sonia Plata, director, of the Flagstar Bank Foundation, said.