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Lean Rocket Lab Expands Support for Small Businesses in Lenawee and Hillsdale Counties

LENEWEE COUNTY, MI – Jackson-based Lean Rocket Lab plans to expand its efforts to support small businesses to Lenawee and Hillsdale counties.

In collaboration with nonprofit Lenawee Now, Lean Rocket Lab, Economic Development Partnership of Hillsdale County and the Michigan Small Business Development Center were awarded a $1.4-million grant over a three-year period from the Michigan Economic Development Corporation.

This funding will help Lean Rocket Lab expand its LOCAL program to Lenawee and Hillsdale counties, officials said.

Related: Lean Rocket Lab helps propel small businesses trying to get a start in Jackson

“This grant will enable us to expand our services and provide comprehensive resources and support to the area’s small businesses,” Lenawee Now Executive Director Patrick Farver said in a statement. “We are committed to supporting the growth of small businesses in Lenawee County and this grant will help us to achieve that goal.”

The grant will be used to focus on expanding Lean Rocket Lab’s existing “Fellows” program, which provides business coaching, workshops, and networking opportunities to help small businesses grow.

It will also focus on launching a new “Fast Track to Lending” program that will connect small businesses with lenders and help them access capital, primarily through expanding a partnership with American 1 Credit Union and its $5 million loan fund to support small businesses in the Hillsdale and Lenawee regions.

Related: New $5M loan program will help small businesses in Jackson

The grant includes $400,000 for direct grants to eligible small businesses served through the program. These grant funds will be awarded through a competitive process to assist eligible local small businesses to cover the costs of professional services, officials said.

Lean Rocket Lab began in Jackson in 2018.

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AI legalese decoder can assist in this situation by analyzing and interpreting the legal language and requirements of the grant received by Lean Rocket Lab. It can help streamline the process of expanding services and providing resources to small businesses in Lenawee and Hillsdale counties. By translating complex legal terms into plain language, AI legalese decoder can ensure that all eligibility criteria and obligations under the grant are clearly understood by the recipients. This technology can also help in identifying any potential legal risks or compliance issues related to the grant funding, allowing Lean Rocket Lab to navigate the expansion smoothly and efficiently.

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