FLINT -- Governor Jennifer Granholm unveiled plans to expand small business loans via credit unions at Kettering University Tuesday. The governor was joined by representatives from the Michigan Economic Development Corporation, the Michigan Credit Union League, and residents who recently started their own businesses.
MEDC is helping to expand the FastTrac NewVenture program, developed through the Ewing Marion Kauffman Foundation. The program offers a 10 week course for people looking to start their own businesses, where they learn everything from business plan development to making contracts.
Millions of dollars are also being made available in small business loans.
“We have the ability to give them access to capital and with the partnership of our credit unions, we can provide them training and mentoring,” Granholm said.
This plan was announced the same day Michigan House Republicans revealed their plan to create jobs in the state. Party leaders said their plan limits the state government’s role in job creation by capping MEDC tax credits. It also eliminates the Michigan Business Tax surcharge, now standing at 22 percent. The plan also consolidates industry-based tax cuts and boosts the number of environmental permits approved for businesses.
“Government cannot create jobs,” said Republican State Rep. Kim Meltzer of Macomb Township.
“Government has to get out of the way so that those entrepreneurial minds that we have here in Michigan and existing job providers are able to compete with other states as well as the global markets,” she said.
