​LaunchDETROIT Awards Micro Loans to Detroit Area Entrepreneurs

From LaunchDETROIT: Now entering its fifth year, LaunchDETROIT, a micro loan program developed by Rotary District 6400, recently honored its fourth graduating class of Detroit area entrepreneurs during a special luncheon at Mexican Village in Detroit.

LaunchDETROIT offers qualifying entrepreneurs a combination of free business training, micro loans of up to $2,500, assigned business mentors and networking opportunities.

During the fall, qualifying applicants are assigned mentors and attend 10, three-hour business classes offered each week at Baker College. Upon successful completion of the classes, entrepreneurs are required to give business plan presentations to members of the LaunchDETROIT selection committee in order to qualify for micro loans of up to $2,500 to be repaid within one year.

This Detroit area initiative has received international recognition along with a prestigious award presented to Rotarian Larry Wright, who received Rotary’s Responsible Business recognition during Rotary Day at the United Nations, for his leadership in spearheading LaunchDETROIT.

Similar programs have been initiated by Rotary groups in other U.S. cities including Atlanta, Ga., Raleigh, N.C., Chicago, Ill., and Los Angeles, Calif., and in Sydney, Australia.

“Since we awarded the first micro-loans in 2014, our mission continues to be to support and develop entrepreneurs and small businesses in under resourced communities in the Detroit region,” said Detroit Rotarian Margaret Williamson, president of LaunchDETROIT. “Thanks to the input of our entrepreneurs, dedicated Rotary volunteers and Baker College, we’ve been able to expand and enhance the program each year.”

LaunchDETROIT also recently partnered with Level One Bank which is processing repayments of loans made possible by donations from local Rotary Clubs, Baker College and the Presbytery of Detroit.

Among the 2016-17 class of LaunchDETROIT entrepreneurs is Chantae Fowler, owner of Ice Cream Place, located in Romulus. According to Fowler, the LaunchDETROIT micro loan will enable her to purchase a new commercial batch ice cream machine to expand her production and sales of homemade ice cream, now available in five local grocery stories and by direct order.

Other recent graduates include Detroiters, Melody Duncan, owner of Luv Dollz and maker of all natural skin care products, and Angel Tyler, creator of handmade jewelry and owner of Angel’s Creation and Accessories.

Kelvin Wyatt, owner of Tabcat Detroit in Ferndale, teaches Brazilian dance, music and fitness, specializing in Capoeira and other folkloric dance.

A LaunchDETROIT micro loan is also helping trained chef Aldena Williamson start up a new business in Detroit, Gemini Catering, to deliver well balanced meals to customer’s doors in the Lafayette Park and Rivertown neighborhoods of Detroit.

Beginning in May 2017, LaunchDETROIT will begin accepting online applications for the next round of entrepreneurs atwww.LaunchDetroit.org.

“Our LaunchDETROIT team of Rotary volunteers and mentors is very optimistic about the possibilities and opportunities these entrepreneurs bring to Detroit,” added Margaret Williamson.

LaunchDETROIT is a non-profit program powered by Rotary volunteers from District 6400, which serves southeast Michigan and southwest Ontario. For more information about donation and partnership opportunities along with applicant criteria and requirements,contact@LaunchDetroit.org.

Photo courtesy of LaunchDETROIT