Lake Trust Credit Union (Lake Trust), a community-based institution serving nearly 200,000 individuals and businesses throughout Michigan, is aiming to support the state’s small businesses during this time of economic turmoil through its Great Lakes Giveback program.
Small businesses throughout Michigan are eligible to apply, with preference given to those with 25 employees or fewer. Structured as a crowdfunding campaign, Lake Trust will select 75 small businesses to participate. Businesses will be encouraged to engage customers, supporters, and the community at large to raise donations through the Great Lakes Giveback campaign and “make waves for small businesses across Michigan” beginning June 15.
Lake Trust will distribute a total of $75,000 to participants, matching crowdfunded totals up to $1,000 per business. Matching funds will be granted through July 15.
“We know many small business owners have endured significant financial hardship throughout the COVID-19 pandemic,” said Lake Trust CEO David Snodgrass. “Lake Trust is focused on being an engine of economic well-being, and that includes promoting the financial health and stability of the communities we serve. Small businesses are central to Michigan’s economy, and the Great Lakes Giveback offers a platform to provide direct support to small enterprises and engage their customers, neighbors and fans.”