June 12, 2025

Published April 5, 2022 by Business Insider. In Detroit, a city with multiple flagship construction projects underway and a housing stock in need of repair, a new program aims to solve the challenges faced by minority-owned contractors. What Happened: The Motor City Contractor Fund was announced Tuesday by the Rocket Community Fund, the philanthropic division of Rocket Companies Inc (NYSE:RKT); the Community Reinvestment Fund, USA; Invest Detroit; and Barton Malow Builders. It’s kicking off as a $10-million pilot program that will begin by assisting 20 Detroit-based contractors with loans and supportive services in order to address historic inequities such as access to capital and the digital divide. “We’re here to address a long-term systemic problem. Minority-owned contractors have historically been turned away from traditional lending institutions,” said Bill Emerson, vice chairman of Rock Holdings, Inc. “This issue intersects with the fact that until last year, Detroit was the least digitally connected city in the country.” The Rocket Community Fund is investing the first $1 million for the administration and operation of the program. Only 5% of contractors in metro Detroit are based in the city itself, he said — representing a missed opportunity in a metro area that has more than $5 billion annually in construction projects. Deana Neely, the founder and CEO of electrical contractor Detroit Voltage, said the program was designed for contractors like herself. It’s difficult for minority contractors to compete for large projects, she said, adding that she “bootstrapped” her business by using personal credit cards to cover expenses. “I have been turned down for funding several times,” Neely said Tuesday, speaking at a press conference at downtown Detroit’s State Savings Bank building. “Many times I h;ave been forced to turn away projects because of lengthy payment terms, upfront material costs and in some cases stringent bonding requirements.” See Also: Detroit City Council Finally Approves Recreational Marijuana Ordinance After Years Of Delay The Nuts And Bolts: The Motor City Contractor Fund will offer loans that are “more situation-based” than credit-dependent, looking at factors such as the number of years in business, whether the contractor has employees and what upcoming work they have, said Krysta Pate, the vice president of economic and social justice at the Community Reinvestment Fund. Contractors are also being squeezed by economic conditions such as inflation and supply chain slowdowns, she said. Loans will be made at a fixed interest rate of 7% to contractors to cover one year of projects in the firm’s queue, and contractors will have two years to pay back the loan, she said. “Compared to using cash or high-interest credit cards, I think we’re starting in a good place.” When the contractor fund scales up, Pate said the goal is to service 300 to 400 contractors with a pool of between $30 million and $60 million in funds. “With the Motor City Contractor Fund, we can help get contractors on more solid financial footing and position them to take advantage of all the business opportunities present in Detroit today. We will give contractors the tools they need to bid smart, grow smart and borrow smart.” A Continuing Investment In Detroit: Tuesday’s announcement is the latest development following the March 2021 commitment by Dan and Jennifer Gilbert’s nonprofit Gilbert Family Foundation and the Rocket Community Fund to invest $500 million in Detroit neighborhoods over 10 years. Dan Gilbert is the founder and chairman of Quicken Loans and the Rock Family of Companies. The initiative began with a $15-million commitment by the Gilbert Family Foundation to pay off delinquent property taxes for about 20,000 Detroit families. The Detroit Tax Relief Fund has so far assisted more than 4,500 families, with another 2,000 in the pipeline, said Emerson. The Gilbert Family Foundation and Rocket Community Fund have invested almost $50 million since making the pledge to Detroit, he said. “We start by investing in stable homes. To achieve economic mobility, we then build on that foundation and build on entrepreneurship, job growth and skills attainment.”

Published April 5, 2022 by DetroitFreePress.com A  new $10 million fund that aims to provide low-interest loans and technology and business advisory services to 20 contractors was launched Tuesday at a news conference in Detroit. The Motor City Contractor Fund is a pilot program, supported by the Gilbert Family Foundation and Rocket Community Fund working with several nonprofits, that is meant to ensure that Black, indigenous people and other people of color who are contractors have equity in access to technical support and capital. With more projects happening in the city, the aim is to provide tools to these contractors to better compete for contracts in “rehab, home repair, new construction, demolition and other public/private projects,” the partners said in a news release. The pilot program, the partners said, will start with a $1 million investment from the Rocket Community Fund and is only open to Detroit-based contractors. “Like all our philanthropic initiatives, we’re here to address the long-term systemic problem,”  Bill Emerson, vice chairman of Rock Holdings, said at the news conference, which was held at the State Savings Bank building in Detroit.

Published June 26, 2023 by Gilbert Family Foundation. Development across Detroit has increased exponentially. It would seem that this construction boom would be a wonderful opportunity for Detroit-based contractors. But up until very recently, systemic barriers prevented smaller, BIPOC and women-owned companies from competing with larger and non-minority owned contracting companies. This historic inequity led to one of our most important investments: Last year, we announced the launch of theMotor City Contractor Fund (MCCF), a $10M pilot program seeded by the Rocket Community Fund to equip Detroit-based contractors and minority-owned construction firms with the resources, financing and training they need to thrive in an increasingly competitive marketplace. MCCF is now led by the Gilbert Family Foundation and has been developed alongside partners and experts at the Community Reinvestment Fund, Invest Detroit and Barton Malow Builders, with Lifeline Global Consulting leading the technical assistance portion of MCCF. In addition to providing access to funding, as well as a $5,000 grant, cohort members were placed into three technical assistance curriculum categories. They participated in industry-led workshops focusing on all aspects of the business, such as identifying new job prospects, exploring digital marketing, connecting directly with lenders about financing and learning from industry experts on business best practices. Now we are at a pivotal moment for the 20 Detroit-based contractors who participated in our first cohort: Graduation. Recently, 19 members of the pilot cohort were celebrated in a commencement-like ceremony at Marygrove College. Participants discussed how the program has benefited their respective businesses, and we heard from the leaders who developed MCCF on why this program is so critical to the city of Detroit, and how they hope to see it evolve.

Published December 10, 2024 by Gilbert Family Foundation. DETROIT, Dec. 10, 2024 – Gilbert Family Foundation, Invest Detroit and Detroit Development Fund today announced the expansion of Motor City Contractor Fund (MCCF), a community-led effort curated by The Ownership Initiative. Through the expansion, the program will empower 50 Detroit-based contractors with targeted resources to strengthen their businesses and increase their competitiveness in Detroit’s booming construction market. The program offers contractors access to financing, technical support and business development services, along with opportunities to build meaningful partnerships with large companies deeply involved in Detroit’s construction industry. As demand for construction, home repairs and rehabilitation projects continue to rise, MCCF equips local contractors with essential tools to grow their businesses and secure a wider variety of contracts, including both public- and private-sector opportunities. In doing so, the program not only fosters contractor growth but also contributes to job creation and economic development in Detroit. “More than $5 billion in annual commercial construction in Detroit is done by contractors from outside the city. MCCF is one way we’re working to keep that wealth in Detroit, serving Detroiters,” said Laura Grannemann, Executive Director, Gilbert Family Foundation. “We are thrilled to welcome this next cohort of talented contractors and are eager to see how the program will help their businesses grow.” Motor City Contractor Fund was established to address systemic barriers faced by smaller contractors in Detroit, especially those led by entrepreneurs of color. Minority-owned firms have historically been excluded by traditional lenders due to systemic bias and industry-related risk factors. Even when loans are approved, these firms often encounter higher interest rates, which limit their ability to scale and succeed. These challenges are addressed by combining flexible lending, business advisory services, and tailored technical assistance to empower contractors to overcome these barriers and achieve long-term success. Collaborative Partnerships Drive Success Invest Detroit, a Community Development Financial Institution (CDFI), serves as the arranger and loan originator for t Motor City Contractor Fund. As a mission-driven lender and investor, Invest Detroit supports business and real estate projects that promote economic growth, strengthen Detroit neighborhoods, increase density, create job opportunities and foster inclusivity. Invest Detroit also manages the program’s financial products, leads program structuring, coordinates loan agreements to provide capital, oversees the fund’s website, facilitates connections with job providers and engages key partners to ensure the program’s success. “The Motor City Contractor Fund represents a transformative opportunity for Detroit’s small and minority-owned contractors to break through systemic barriers and grow their businesses,” said Shenai Jackson, Program Manager, Motor City Contractor Fund. “By providing the tools, financing, and partnerships they need to succeed, we’re helping to build a stronger community and create a more inclusive and thriving economy in our city.” LifeLine Global Consulting administers technical assistance through tailored tracks—Fast Track and Fortified Track—designed to meet contractors at their level of readiness. Training topics include business planning, accounting, labor management, safety training and digital marketing. Metro Detroit-based Barton Malow, along with Detroit Development Fund, contributes additional training, mentorship and access to bid opportunities on major development projects. The Ownership Initiative, a Detroit-based Black-owned impact advisory firm, conducted a program redesign to improve operational efficiency and maximize impact. Building on MCCF Pilot Program’s Impact Motor City Contractor Fund launched its pilot program in April 2022 with an initial cohort of 25 Detroit-based contractors, which ran through May 2023. The program demonstrated significant impact, providing both financial support and business development opportunities tailored to the needs of small and minority-owned contractors. Key achievements from the first cohort include: Like the pilot group, the second cohort will receive $5,000 grants to address individual business needs so they can strengthen their operations and be better positioned to participate in Detroit’s ongoing economic revitalization. To be eligible for upcoming cohorts, applicants must be headquartered in Detroit or have multiple active or upcoming projects in the city, employ Detroit residents, and demonstrate experience in residential or commercial contracting. Applicants should have at least two years in business or substantial personal experience, or, if successors of an existing business, demonstrate relevant management expertise. LISC home repair applicants must have completed 3–5 projects and provide references or sponsorship letters. Qualified contractors can discuss capital needs with community-based lenders, who will review documentation and underwrite loans based on their criteria. Interested contractors can learn more or apply for cohort three at https://www.motorcitycontractorfund.org/home/#application. ### About the Gilbert Family Foundation Gilbert Family Foundation is a private nonprofit foundation founded by Jennifer and Dan Gilbert to accelerate a cure for neurofibromatosis type 1 (NF1) and build economic opportunity in the city of Detroit. The Gilbert Family Foundation supports groundbreaking, cutting-edge research in hopes of eradicating NF1, a genetic disorder that causes tumors to grow on nerves anywhere in the body. Additionally, the Foundation supports the economic stability and mobility of residents in Detroit by investing in wealth-building opportunities and breaking down systemic barriers. For more information on the Gilbert Family Foundation, please visit gilbertfamilyfoundation.org. About Invest Detroit Invest Detroit is a nonprofit lender, investor, and partner that supports business and real estate projects that will ignite economic growth in Detroit and support inclusive growth of entrepreneurial ventures across the state. Our goal is to help create a thriving city that works for all Detroiters with an improved quality of life–inclusive housing, resourced and walkable neighborhoods, and equal opportunities for jobs and business growth; and scale promising early-stage ventures into thriving companies that help support the state’s economy, provide jobs to local talent, and bolster Michigan’s growing startup community. Learn more at www.InvestDetroit.com. About Detroit Development Fund DDF was established in 1996 with a mission to “improve the quality of life for residents in underserved Detroit neighborhoods.” A 501(c)(3) and certified as a CDFI, DDF provides term loans and lines of credit to small businesses, small contractors, and for-profit and nonprofit affordable housing developers. DDF currently manages $23 million in loan capital. Since lending activities began in 2002, DDF has closed over $36 million in loans to businesses in Detroit, which helped to