ANNOUNCING AWARD OF WEDC SMALL BUSINESS DEVELOPMENT GRANT (SBDG) TO MRRPC FOR OUR 9 COUNTY REGION

Jon Bingol, Executive Director MRRPC - 5.9.2025 - MRRPC has received a $250,000 SBDG from WEDC.  The grant funds will be used to conduct a Regional Business Plan Contest with cash prizes of $12,000 and several educational sessions to help businesses create  and/or improve their Plans; $6,000 for a Pitch Event where businesses can present their opportunities to investors; $232,000 to be combined with Revolving Loan Fund (RLF) Gap financing to close “good” business deals for companies with fewer than 24 full-time-equivalent (FTE) employees and MRRPC has to raise an additional $44,000 for this program which will then provide $276,000 in grants to be used with RLF funding.

The RLF funding for Gap financing assists business borrowers get financing by helping “close the gap” between what the financial institution requires of the borrowers and what they have.  For example...