At Foster Swift, we believe that empowering businesswomen goes beyond legal counsel – it means helping our clients tap into the funding, mentorship, and strategic partnerships that fuel growth. As part of our commitment to supporting women entrepreneurs and business owners, we have compiled a list of Michigan-based capital and support opportunities specifically designed to help women-led businesses thrive. While this list highlights some of the programs targeted toward women-owned businesses and women entrepreneurs, we encourage you all to explore additional capital and support opportunities that may be available to you here in Michigan.
Whether you’re exploring grants, preparing to pitch to investors, or seeking funding to scale your company, we’re here to guide you through the legal landscape that underpins every capital decision. If you would like to learn more about these opportunities or seek legal representation as you pursue funding and other business growth opportunities, please feel free to contact our team. We are here to support you in every step of your business journey and help you achieve your entrepreneurial goals!
Michigan Women Forward
Michigan Women Forward is a nonprofit organization located in Grand Rapids and Detroit that empowers women entrepreneurs and minority-owned businesses economically by providing such persons and entities with small business loans, support, and advocacy. Founded in 1986, Michigan Women Forward aims to improve the lives of women through financial independence and entrepreneurship. As a Community Development Financial Institution (CDFI), Michigan Women Forward fills the gap for women and BIPOC businesspersons by offering capital funding, mentorship, and growth opportunities, thereby fostering economic growth and community investment in Michigan. Please visit Michigan Women Forward’s website through the following link to get more information on how you may apply for a small business loan; get involved in Michigan Women Forward’s classes, seminars, and pitch-competitions; and/or benefit from its coaching programs: https://miwf.org/.
Small Business Administration of Michigan’s Women’s Entrepreneurial Fellowship
The Small Business Administration of Michigan created the Women’s Entrepreneurial Fellowship in 2024. The fellowship is a 9-month program that is designed to both support and elevate “second-stage” women-owned businesses throughout the state of Michigan. Through mentoring opportunities, educational sessions, and networking programs, the Women’s Entrepreneurial Fellowship is designed to help “second-stage” businesses rise and thrive through its next level of growth. The following criteria applies to prospective fellows interested in applying for the program: (i) your business must generate $500,000 or more in annual revenue; (ii) your business must have been in existence for 2+ years at the time you apply; (iii) you must employ 5+ employees through your business; and (iv) you as the applicant business owner must have at least 5 years of entrepreneurial experience. Approximately 15-20 women are selected throughout the state of Michigan to participate in the Women’s Entrepreneurial Fellowship. This year’s program begins next month, in October 2025, and will run until June 2026. Consider learning more about the Small Business Administration of Michigan’s Women’s Entrepreneurial Fellowship via the following link: https://www.sbam.org/sbam-foundation/womens-entrepreneurial-fellowship/.
Great Lakes Women’s Business Council
You may recognize the Great Lakes Women’s Business Council from our previous resource related to women-owned business certifications available to entrepreneurs in Michigan. See Michigan Specific Women andor Minority-Owned Business Certifications.docx. Great Lakes Women’s Business Council provides Women’s Business Enterprise National Council (WBENC) certification support to participants in its programs. As a nonprofit championing Michigan-based small businesses, the Great Lakes Women’s Business Council also provides access to capital, corporate procurement opportunities, and small business educational support, in addition to its WBENC certification support. The Great Lakes Women’s Business Council prides itself on having provided an estimated $11,000,000 in loans to women-owned small businesses. For more information about this council, its program, and its impact here in Michigan, visit Great Lakes Women’s Business Council’s website here: https://www.greatlakeswbc.org/.
Michigan Association for Female Entrepreneurs
The Michigan Association for Female Entrepreneurs is a dedicated nonprofit organization that champions the growth and empowerment of women entrepreneurs and women-owned businesses across Michigan. Whether at the start-up phase or a more mature stage, the association offers a plethora of programs designed to foster professional and business development. These initiatives include a leadership institute that enhances professional development skills, a global access program connecting businesswomen to international markets and opportunities, and comprehensive entrepreneurship programs featuring online courses, conferences, and training sessions. Through these diverse offerings, the Michigan Association for Female Entrepreneurs ensures that women in business have the resources and support needed to thrive. For more information about the Michigan Association for Female Entrepreneurs, check out their website via the following link: https://www.mafedetroit.org/.
For more information about other capital fund programs and support opportunities throughout the state of Michigan, please see the following, non-exhaustive list of additional resources:
- Michigan Economic Development Corporation: https://www.michiganbusiness.org/
- Lansing Economic Area Partnership: https://www.purelansing.com/
- Michigan Community Capital: https://michigancommunitycapital.org/
- Ann Arbor Spark: https://annarborusa.org/spark-capital/
- The Right Place: https://www.rightplace.org/
- Motor City Match: https://www.motorcitymatch.com/
