The Regional Resiliency Program (RRP), supported by 30 funders and administered by Venture North, a community development financial institution (CDFI), has released its most recent report highlighting grants made and how members have supported the program. 

The program is a collaborative effort that has provided over $1 million in funding to businesses with nine or fewer employees impacted by COVID. The program covers a 10 county region in northwest Michigan.

The initiative began with a $200,000 grant from Consumers Energy Foundation and since its launch several other CMF members have supported the program including DTE Energy Foundation, Frey Foundation, Leelanau Township Community Foundation, Manistee Community Foundation, Grand Traverse Regional Community Foundation, Hagerty, ITC and Petoskey-Harbor Springs Area Community Foundation.

Venture North has received charitable donations and awards from 30 organizations and individuals, a total of $1,157,750, including $450,000 from the Consumers Energy Foundation. 

Venture North released a report highlighting the impact of the program in Northern Michigan from May 2020 to July 2021.

•    302 businesses in 10 counties received grants that were used for personal protective equipment, payroll, inventory, online ordering, rent and leases and more.

•    69% of the businesses that have received support are owned by women, 6% are owned by people of color and 9% are owned by veterans. 

•    Over 95% of the grant recipients are still in business.

•    In a survey where one-third of the 302 RRP grant recipients responded, 64% said the assistance was most helpful for them in 2021 for forecasting and budgeting. 

Want more? 

Read the full report. 

Learn more about the Regional Resiliency Program.