Flagstar Bank’s “Pontiac’s Big Idea” Grant Program
Rewarding Big Ideas for Small Businesses
Flagstar Bank’s Investment to Pontiac
Flagstar Bank has committed to investing $10 million into Pontiac as an economic catalyst for both downtown and Pontiac’s greater region. One of the investment projects from Flagstar Bank is “Pontiac’s Big Idea Grant Program” which works with the support and partnership of Main Street Pontiac and CEED Lending. The grant program puts in about $500,000 of funding into the small business community each year, starting in 2017. Small businesses, through a competitive application process, may receive up to $10,000 in the form of a grant. Every year, one $50,000 to $100,000 grant may be awarded to a small manufacturing based company. The grant program also provides for $5,000 to $50,000 small business loans through CEED which may not typically qualify for funding, while also allowing the opportunity for the loan funding to be supplemented with grant funding for a larger financial impact to the business owner with a reduced lending burden.
The Big Idea
Flagstar Bank’s “Pontiac’s Big Idea” Grant Program (PBIGP) will provide several awards to businesses in Pontiac (not just limited to downtown) that have ideas to grow or businesses to expand. Several awards of $1,000 to $10,000 will be granted to businesses that gross less than $1,000,000 annually. One award annually of $50,000 to $100,000 will be awarded to a manufacturing business that promises to produce significant jobs in Pontiac.
Submitting an Application
There are are 2 ways to apply to PBIGP:
- For loan and grant applications: Apply online at www.greatlakeswbc.org/programs/ceed-lending
- For grant applications: E-mail your completed application to firstname.lastname@example.org
E-mail your inquiries to email@example.com
Come to our Help Desk: 3rd Wednesday of each Month, 4:30 pm – 5:30 pm, Alley Cat Cafe (before monthly community meeting)
Need Help With Your Application?
Visit one of our many community resources to help figure out how to develop your idea into a business, develop a business plan, and review your financials.