The city of Ishpeming’s downtown is pictured. A new grant program aims to help businesses get started in the city. (Journal file photo)

ISHPEMING — A new grant program is helping future business owners get started in Ishpeming.

The Ishpeming Downtown Development Authority announced its newest program, the Start-Up Assistance Grant, to help “attract and support” new businesses in the city.

According to the city’s press release, the grant will provide up to $2,500 to four qualified applicants each calendar year. These funds can be used for expenses related to establishing business in downtown Ishpeming.

Expenses include rent, repairs, equipment purchases or rentals, business supplies, business insurance, marketing efforts and other start-up related expenses.

“This is a great opportunity for prospective business owners and entrepreneurs to make their business a reality and join downtown Ishpeming, which is abundant in community, history, culture and opportunity,” said David Aro, Ishpeming DDA member, in the press release. “Through the DDA, we are focused on implementing programs that will create meaningful action to drive our historic downtown forward. By providing funds through initiatives like the Start-Up Assistance Grant, it’s just one of the many ways we can work towards achieving this goal, which includes supporting the businesses of Downtown Ishpeming and encouraging economic growth.”

To qualify for the grant, applicants are required to provide a start-up business plan to assess its viability and sustainability, details on how the funds will be used in the start-up process and legal documentation, including a W-9 form.

Once submitted, the DDA will review applications in the order they are received, according to the press release. The committee will score applications based on the following criteria:

≤ Type of business: The DDA is seeking businesses that will create jobs, complement existing businesses and are not similar to existing businesses in the community.

≤ Business plan: Areas that will be highly considered are demand for the product and services, access to capital, owner experience in the industry, number of potential employees and business location.

≤ Use of funds: Details of how the funds will be used in the start-up process.

According to the press release, applications and required documentation must be submitted to the Ishpeming City Clerk’s office within the calendar year window. Once the budgeted funds are awarded, the window closes.

This program only is available for businesses that fall within the DDA’s geographic boundaries, according to the press release. Additionally, accepted applicants will be provided a one-year paid membership to the Lake Superior Community Partnership and the Greater Ishpeming-Negaunee Chamber of Commerce.

Applicants are encouraged to seek assistance in their start up from LSCP, GINCC or the Michigan Small Business Development Center for business planning assistance.

Applications can be picked up at city hall or online at ishpemingcity.org/?wpfb_dl=1838.

For more information about the grant program, visit ishpemingcity.org/dda/downtown-development-authority-new-business-start-up-assistance-grant.

Dreyma Beronja can be reached at 906-228-2500 ext. 548. Their email address is dberonj@miningjournal.net.