JACKSON, Mich. -The Michigan Credit Union Foundation, TRUE Community Credit Union, and Henry Ford Allegiance Health joined resources to give $100,000 to The Launch Pad, a mixed-use business incubator program.
The Launch Pad empowers local, neighborhood, and service-based businesses and provides resources, education, and space to serve underserved and underrepresented communities in business.
Henry Ford Allegiance Health will provide $50,000, TRUE Community Credit Union will contribute $30,000, and The Michigan Credit Union Foundation has awarded a $20,000 Community Enrichment Grant. The funds will help with The Launch Pad's start-up costs to provide training resources and enrich the lives of countless underrepresented and disadvantaged individuals looking for a resource and support for their businesses, the organizations said.
"As the Launch Pad will increase financial inclusion and small business support, it is a perfect fit for Michigan Credit Union Foundation funding goals,” said Beth Troost, executive director of Michigan Credit Union Foundation. “This grant amplifies TRUE Community Credit Union's commitment and investment in community partnerships to improve the financial well-being of underserved entrepreneurs."
Added Chrissy Siders, president/CEO of TRUE Community Credit Union, "The Launch Pad is just one example of the progressive change coming to our community in the space of equity. As leaders in this community, it is our responsibility to lean into the conversation, take direction, provide authentic support, and allocate resources effectively to change the narrative in our community. We are committed to coming alongside advocates for change by bridging the gaps and creating opportunities. We are ecstatic to support The Launch Pad with financial and human resources and to have secured the Community Enrichment Grant from the Michigan Credit Union Foundation. We can't wait to see Jackson grow through the establishment of more small businesses.”
The Launch Pad will offer events, education, funding, mentorship, and space to its clients. It will provide a physical location with a defined set of services to individuals and small businesses to meet various economic and socio-economic needs such as employment and wealth creation, support for small businesses, and promoting innovation and knowledge transfer.
"We want to help business owners achieve their goals of breaking into the market," said Daniel Mahoney, The Launch Pad Owner and Community Activist. "We hope to become the preferred brand for start-ups for the local, neighborhood, and service-based businesses."