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GRAND RAPIDS, MI — The nonprofit group SpringGR is accepting applications for a program designed to help entrepreneurs of color attract new customers and grow their business revenue by 30% or $250,000 over three years.
The program, known as The 250 Project, is a six-month program that was created with the goal of strengthening businesses owned by people of color in the region. The upcoming cohort is set to launch in July.
“We’re looking at entrepreneurs who are grossing annual sales of at least $100,000, have an additional employee besides themselves, and have been in business for two years,” Jermale Eddie, director of business growth at SpringGR, said in a statement.
The cost of participating in the program is $250. Spring GR says the program costs represents “only a portion” of the program’s tuition cost. The rest is subsidized by Spring GR and the DeVos Family Foundation. Members of the DeVos family founded Spring GR.
The application for the program says scholarships “will be made available on a limited basis,” and that questions about The 250 Project can be directed to Eddie at jermale@springgr.com.
Spring GR is hosting a virtual information session Thursday, June 8 from 9 a.m. to 10 a.m. To register for the event, click here. Applications for the program are available here.
The name of The 250 Project is a nod to a study showing people of color own less than 1% of businesses generating $250,000 or more annually in Grand Rapids, according to a news release from the program.
“If it weren’t for SpringGR, I would not have left my nine-to-five job as quickly and efficiently as I did,” Brian Chandler, CEO of Chandler Inspections and a 250 Project graduate, said in a news release. “SpringGR gave me the blueprint for what I could do with my business ideas. The 250 Project allowed me to surround myself with business owners at my level or an advanced level. It challenged me to grow my business.”
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