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Lean Rocket Lab extends small business support to Hillsdale and Lenawee counties

Byeditor

Apr 4, 2024

Lean Rocket Lab, based in Jackson, is expanding its efforts to support small businesses in Lenawee and Hillsdale counties. The organization, in collaboration with Lenawee Now, Economic Development Partnership of Hillsdale County, and the Michigan Small Business Development Center, received a $1.4 million grant from the Michigan Economic Development Corporation over three years. This funding will allow Lean Rocket Lab to expand its LOCAL program to provide comprehensive resources and support to small businesses in these counties.

The grant will focus on expanding Lean Rocket Lab’s existing “Fellows” program, which offers business coaching, workshops, and networking opportunities to help small businesses grow. It will also launch a new “Fast Track to Lending” program to connect small businesses with lenders and help them access capital, particularly through a partnership with American 1 Credit Union and its $5 million loan fund to support small businesses in Hillsdale and Lenawee.

Included in the grant is $400,000 for direct grants to eligible small businesses served through the program. These funds will be awarded through a competitive process to assist small businesses with covering the costs of professional services. This initiative aims to support the growth of small businesses in Lenawee and Hillsdale counties, helping them achieve their goals and thrive in the local economy.

Lean Rocket Lab was established in Jackson in 2018 and has since been working to support the development and growth of small businesses in the region. This expansion into Lenawee and Hillsdale counties will further strengthen the support available to small businesses in these areas. Those interested in receiving more Jackson-area news can bookmark the local Jackson news page or sign up for the “3@3 Jackson” daily newsletter from The Jackson Citizen Patriot.

By editor

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