MLK Corridor Improvement Authority Announces Third Round of Funding for Entrepreneurial and Real Estate Fund

2nd Round Awardees pose with ceremonial checks at the MLKCIA meeting at the Martin Luther King, Jr. Center May 19, 2024. JTV file photo.

(August 19, 2024 9:00 AM ET) The MLK Corridor Improvement Authority today announced the launch of a third wave of funding for the Entrepreneurial and Real Estate Fund, a grant initiative designed to revitalize Southside Jackson and stimulate business development throughout the Corridor. The third round of funding begins with a pre-application period, which runs from today through September 6 at midnight, and will again award a maximum of $50,000 per business. Up to $250,000 total is planned for distribution. Entrepreneurial and Real Estate Fund grants can be used to upgrade buildings or spaces, cover operational costs, and acquire marketing, legal, accounting, and technology services. The first two funding rounds awarded fifteen $50,000 grants for a total of $750,000 invested.

The pre-application is designed to assess applicants’ readiness to receive funds and to identify those who may benefit from additional technical assistance or further development before moving on to the general application process.

“With this vital support, Jackson’s business owners can propel their business ambitions forward and uplift our community at the same time. An investment in the MLK Corridor is an investment in our Southside neighborhoods,” remarked Anthony Parker, chairman of the MLK Corridor Improvement Authority.

To qualify for these grants, applicants must own a small business within the MLK Corridor of Jackson and have been in operation for a minimum of one year. Businesses must also be compliant with the State of Michigan regulations and identify a clear strategy for utilizing the grant money to meet an established business need. Detailed information on application procedures and eligibility criteria can be found at https://www.mymlkcia.org/entrepreneurial-fund. Business owners who applied for previous rounds of funding must submit a new application to be considered for the current cohort.

“With this grant program, we effectively channel MLKCIA Entrepreneurial and Real Estate Fund resources directly to the entrepreneurs who need it most,” noted Jackson Mayor Daniel J. Manoney, a member of the MLK Corridor Improvement Authority.

Business owners interested in submitting a pre-application can do so here: https://qrco.de/mlkciapreapp

For more information, visit https://www.mymlkcia.org/entrepreneurial-fund or contact John Willis at jwillis@cityofjackson.org.