Kettering MAP Program
Kettering MAP Program
Kettering to Offer Microenterprise Program Again This Spring
The City of Kettering is proud to present another session of the microenterprise assistance program coming in April and May. Now in its third year, the program combines technical business assistance with networking and funding opportunities. Since the program began in March 2022, almost 50 local start-ups and small business owners have attended our courses or were recipients of our funding programs.
The spring 2024 session is geared toward businesses that have been in operation for at least two to three years while the fall 2024 session will benefit start-up companies and new businesses. The program kicks off on April 10 with the first of four business courses. Sessions will take place every Wednesday from April 10 through May 1 from 9:00 to 11:00 a.m., at the Government Center, 3600 Shroyer Road.
Session topics include:
· Working with City Staff
· Recordkeeping for Small Business
· Financial Resources
· Lessons Learned and Next Steps
The final session on May 1 will feature a panel discussion of previous microenterprise participants on best practices and reflections on the lessons they learned as they grew their businesses. Community Development Manager Angela Rahman will also present information regarding the 2024 application process during this session.
In addition to the business courses, Kettering businesses that have been in operation for more than two years will also have the opportunity to apply for the City’s matching, forgivable loan program. Funding must be used for business expenses such as equipment, marketing, and inventory. To be eligible, a business must be located in Kettering and be a microenterprise, which is defined as a business with five or fewer employees, one of whom is the owner. Microenterprise business owners must also have a household income at or below 80% of the area median income. Additional requirements apply. The business owner’s income will be verified to ensure the business owner’s income is at or below the 80% area median income.
The maximum amount of a forgivable loan is $15,000 with the loan forgiven after 1 year. The loan is a 2 to 1 matching ratio on the loan. The business owner must fund the whole project up front, but if approved, the City will pay 2 dollars for each $1 the business has invested. The minimum loan is $3,000.
This round of loans is for established businesses that have been in existence for at least two years. The business will provide 2 years of business tax returns plus 1 year of personal tax returns.
All applicants are required to have a Unique Entity Identifer (UEI ) through sam.gov. Below you can see a Quick Start Guide if you need assistance setting up your UEI.
To apply for the forgivable loan, the business must be located in Kettering and be a microenterprise (see next bullet for definition), the owner of the business must be current on income taxes, & the business location must have no code violations. See the Microenterprise Loan Program Policies and Procedures for the full program rules and requirements.
Using the HUD definition, a microenterprise is a business that has 5 or fewer employees, one of whom is the owner of the business. Microenterprise business owners who apply must have a household income of 80% of the area median income; (see chart provided). Income will be verified.
The application period will open May 1, 2024 and end May 31, 2024. Historically-disadvantaged businesses such as minority-owned, women-owned, veteran-owned and disabled-owned are strongly encouraged to apply.
The City of Kettering's Microenterprise Assistance Program features classes, networking, and loans for micro-enterprises in Kettering, Ohio. This program was developed in partnership with Kettering's Board of Community Relations, the Economic Development Department, and the Community Development Division of the Planning and Development Department at the City of Kettering. For more information, you can contact Angela Rahman at angela.rahman@ketteringoh.org or 937-296-2524 or Amy Schrimpf at amy.schrimpf@ketteringoh.org or 937-296-3342. Below you can register for the training series.