The MEDC International Trade Program has a new allocation of State Trade Expansion Program (STEP) funds available for eligible small business concerns. On September 8, 2022 the U.S. Small Business Administration (SBA) awarded Michigan the maximum state award in MI-STEP funds for FY23. With additional state match funding, total funds available are $1.87 million.
The program has three primary objectives:
- Increase the number of Michigan small businesses that export
- Increase the dollar value of Michigan exports
- Increase the number of Michigan small businesses exploring significant new trade opportunities
Due to tremendous response from Michigan exporters, MEDC has utilized 100% of its FY2023 MI-STEP funds in record time and applications are now closed. We expect to receive FY2024 funding soon and reopen the application period starting October 1, 2023. If you need export support beyond financial assistance, please contact your International Trade Manager. Click here for more information.
Click here for more information.