FLINT, Michigan – On June 2, the Ruth Mott Foundation announced a program-related investment of $500,000 and supporting grant of $450,000 to Michigan Women Forward (MWF), a Community Development Financial Institution dedicated to expanding economic opportunities for women and entrepreneurs of color.
This investment establishes MWF’s on-the-ground presence in Flint, working in close partnership with Flint-based 100K Ideas, and brings more access to capital, business education and technical assistance for local entrepreneurs.
A full-time lending officer works directly in Flint and is based at 100K Ideas’ downtown office. The role is designed to build relationships with local business owners, provide one-on-one guidance, and connect entrepreneurs to financing and capacity-building resources.
“Entrepreneurs in Flint have the vision and drive to build thriving businesses, but can face barriers to accessing capital,” Ruth Mott Foundation President Sue Peters said.
Peters added: “The MWF model builds on existing efforts by adding a layer of financing and hands-on support—working alongside the community and local partners to ensure more businesses can start, grow and succeed right here in Flint.”
The program-related investment in the form of a $500,000 loan will enable MWF to offer small loans of approximately $2,500–$50,000 to entrepreneurs, focusing on those who are excluded from traditional banking due to low credit scores, lack of collateral or insufficient business history. The $450,000 grant over three years will help establish the local office.
MWF has a track record of providing responsible, community-focused lending alongside education and post-loan technical assistance, helping entrepreneurs strengthen their business foundations and become capital-ready.
“Too many entrepreneurs are told they’re not ready for funding when what they really need is a partner to help them get there,” said Carolyn Cassin, MWF president and CEO.
Cassin added: “This investment allows us to be present in Flint, build relationships locally and provide the kind of coaching and access to capital that can help businesses grow and create long-term economic opportunity.”
Through its partnership with 100K Ideas, MWF is able to work alongside a respected local organization that has strong, established relationships with Flint entrepreneurs.
“The small business funding landscape is changing, making it more important than ever to expand options for small businesses and entrepreneurs in Flint,” 100K Ideas Executive Director Brandee Cooke-Brown said.
“MWF’s approach is a great fit for Flint,” added Cooke-Brown. “We are excited to partner with them as they launch Flint-focused programming that combines education with investment—a critical step in helping businesses secure their first loan.”
As part of the Flint launch, there are two upcoming opportunities for entrepreneurs:
- 100K Ideas’ Business Basics Cohort – June 3-Aug. 12 (Bi-weekly Wednesdays from 5–6:30 p.m.) This pilot program is designed to help businesses build a strong foundation and prepare them for future capital. More than ensuring businesses have the documentation to secure capital, this program works alongside business owners to ensure they fully understand their operations and finances.
- Capital Readiness Lab – Aug. 26-Sept. 30 (Wednesdays from 5:30–7 p.m.) This multi-week, cohort-based program will provide in-depth support to help entrepreneurs strengthen their financials, refine their business strategy, and prepare for capital.
Local entrepreneurs are encouraged to participate in these programs to learn more about accessing funding and building their businesses. Learn more at miwf.org/flint.
Michigan Women Forward is a community development financial institution dedicated to expanding economic opportunity for women and entrepreneurs of color. Through access to capital, business resources, and leadership programs, MWF works to build a stronger, more equitable economy across Michigan. Learn more at miwf.org.
100K Ideas is a Flint-based nonprofit organization where big thinkers are ushered from napkin-sketch to market. 100K Ideas provides real world experience primarily to college students who help address the unmet needs of inventors, innovators and entrepreneurs and ensures a platform to support economic and workforce development as a driver of empowerment in Flint and for innovators everywhere. Learn more at 100kideas.org.
The Ruth Mott Foundation is a private, family foundation whose mission is to work with the community to connect people, ideas and resources for a vibrant and inclusive Flint. The Foundation envisions a just and equitable community where all thrive. Learn more at ruthmottfoundation.org.
