Program To Provide Business Training And Loans To Ex-Prisoners

DETROIT (AP) — A program providing entrepreneurship training and microloans to former prisoners will be rolled out in Detroit and three other cities.

The $2.1 million Aspire Entrepreneurship Initiative was announced Monday by the U.S. Small Business Administration, the W.K. Kellogg Foundation and micro-lender Justine PETERSEN.

The initiative also is planned for Chicago, St. Louis, and Louisville, Kentucky. The W.K. Kellogg Foundation will fund the pilot.

Its specific focus will be on the formerly incarcerated who also are raising children, and expands on a Small Business Administration microloan program for small business owners currently on probation or parole.

Small Business Administration Administrator Maria Contreras-Sweet says “entrepreneurship and small business ownership are proven paths toward wealth creation and financial independence especially for people who might otherwise feel trapped by their circumstances.”


© Copyright 2016 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.


Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Detroit

Best Fall Festivals In Metro DetroitFrom music to art to special events, there's a little something for everyone's delight.
Best 4th Of July Concerts In Metro DetroitStaying home this weekend? Celebrate the 4th of July by rocking out at one of these shows.

Watch & Listen