earmark_spending_crossref: 3
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| rowid | earmark_id | bioguide_id | member_name | earmark_fy | earmark_recipient | amount_requested | project_description | spending_id | spending_recipient | award_amount | spending_agency | spending_description | spending_fy | match_type |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3 | 2730 | T000481 | Rashida Tlaib | 2022 | ProsperUS Detroit Micro Lending | 1155000 | ProsperUS Detroit Micro Lending (ProsperUS), a newly designated CDFI, is a place-based community economic development initiative that currently supports entrepreneurs and small business development in neighborhoods throughout the 13th Congressional District, including the cities of Detroit and Highland Park. Through entrepreneurship training, financial coaching, technical assistance, and micro-lending, ProsperUS infuses low-to-moderate income communities with services and capital to support small business growth and neighborhood revitalization. ProsperUS approaches the work with the belief that residents, small businesses and community organizations in all neighborhoods have the ability to engage and revitalize their own communities - from within.ProsperUS is designed to disrupt concentrated poverty with concentrated entrepreneurial opportunity. Further, we do our work in response to the destruction of Black and Latinx communities via ‘urban renewal’ programs of past generations and the displacement that results from gentrification we see today. With that, we focus on supporting under-resourced and excluded entrepreneurs by also addressing the challenging economic and social contexts in low-income neighborhoods – a comprehensive model that is essential to inclusive entrepreneurship, equitable small business development, and the preservation of culture and community in low-income neighborhoods. Community Project Funding will support the expansion of ProsperUS and its innovative new programming in the 13th Congressional District – including the City of Inkster. Funding of $1,155,000 will support accelerated growth of its access to capital and business assistance programs and the Anchor Business Support Project. The programs will support emerging and experienced neighborhood businesses. During FY 2022, ProsperUS intends to: • Launch its entrepreneurship and small business assistance in the City of Inkster, MI with community partners.• Increase capacity and resources necessary to provide access to capital to entrepreneurs and deploy loans and grants to businesses.• Support startup, growing, and anchor businesses in target neighborhoods in Detroit and Inkster.• Collaborate with business owners to develop practical assistance plans, based on the business needs and the business owner’s goals.• Implement the practical assistance plan for each business. ProsperUS Detroit will connect each selected business owner to service providers who will address the opportunities or challenges that the business owner has identified. Assistance may address critical projects related to accounting, marketing, product development, legal support, and more. Coaching-based practical assistance also will be supported and are longer-term engagements that support the momentum a business by providing coaching through all the challenges and opportunities that entrepreneurs face.• Evaluate the effectiveness of loans, grants, and practical assistance in aiding the sustainability of businesses.• Evaluate the effectiveness of awarding grants to “anchor businesses” as a mechanism for supporting the commercial corridor and neighborhood more broadly.The Community Project aligns well with President Biden’s proposed American Jobs Plan. Specifically, the Anchor Business Support Program is creating small business incubators and innovation hubs through business corridors. The proposal mirrors the American Jobs Plan by providing funding to support the growth of entrepreneurship in communities of color and underserved communities.Project Partners: ProsperUS values the support of partners for its training and technical assistance service provision. Examples of community partners include: Central Detroit Christian CDC Cody-Rouge Community Action AllianceDream of Detroit (Muslim Center) Eastside Community NetworkFord Resource and Engagement Center Grandmont Rosedale Development Corporation Urban Neighborhood InitiativesGlobal African Business AssociationBodman and Associates (Legal Aid) Accounting Aid Society (Finance and Taxes) University of Michigan (Accounting and Marketing) Private Consultants (Website developers)One Detroit Credit Union Detroit LISC Justine Peterson Local and Regional banks (Fifth Third, Citizens Bank, TCF Bank, Chemical, JPMC, and Comerica). Generous funders including the collaborative (New Economy Initiative) led by the Kellogg, Kresge, JP Morgan Chase, and Davidson Foundations. Finally, ProsperUS is part of the National Build From Within Alliance that shares best practices for supporting entrepreneurs of color—particularly those coming from low- and moderate-income families and communities. | ASST_NON_SBAHQ22I0089_073 | PROSPERUS DETROIT MICRO LENDING | 1000000.0 | Small Business Administration | FY22 CONGRESSIONAL COMMUNITY PROJECT FUNDING PROSPERUS DETROIT MICRO LENDING | 2022 | name_fy |