At Global Citizen NOW summit, Detroit Access to Capital Initiative launches to connect underbanked small business entrepreneurs to $1 million in funding

PRESS RELEASE 

JULY 2025 // For Immediate Release 

DETROIT, MI – As part of the first-ever Global Citizen NOW: Detroit summit held today at the new Hudson’s Detroit development, a coalition of local, national, and global organizations announced the launch of the “Detroit Access to Capital Initiative” to support small business entrepreneurs across the city. 

At the summit, Mona – a national mission-driven fintech platform that connects underbanked small business entrepreneurs to affordable loans and grants – partnered with the Michigan Black Business Alliance, E. Warren Development Corporation, Detroit Hispanic Development Corporation, and Detroit Future City to launch the initiative.

The announcement was made on stage as part of a panel between celebrity entrepreneur Mark Cuban, Mona co-founder Andrew Leon Hanna, and Detroit Future City CEO Anika Goss. Following the announcement, a dedicated access to capital workshop brought together small business owners from across the city, who were invited to the summit by the coalition of partner organizations. They included leaders of small businesses ranging from a Black-led urban farm to an art gallery in the heart of Detroit to a community restaurant in a historic building in the East Warren neighborhood.

Through the Detroit Access to Capital Initiative, the coalition of Detroit small business support organizations and Mona are partnering to match entrepreneurs with capital options that best meet their needs, and to provide one-on-one coaching to help them secure funding. The goal is to connect Detroit-area entrepreneurs to more than $1 million in affordable capital within the next year.

“We’re proud to partner with Mona, Global Citizen, and community organizations across Detroit to disrupt barriers to capital,” said Bre McKamie, director of programs at the Michigan Black Business Alliance. “This initiative will help create a more equitable ecosystem where small businesses can get the funding and support they need to thrive, create jobs, and strengthen our communities.”

The Global Citizen: NOW summit is part of a global series organized by the international advocacy organization Global Citizen with the goal of driving action to address the world’s most pressing challenges. The summit – which featured leaders in government, business, nonprofit, philanthropy, entertainment, culture, and advocacy – was themed on the future of cities and urban revitalization through people-first investment.

For Mona, Detroit will become one of its primary partner cities along with Chicago, Atlanta, and other strategic markets. As Hanna notes, “Detroit’s entrepreneurial spirit, energy, and creativity is unparalleled. We’re excited to help build on that legacy by supporting entrepreneurs across the city in accessing the funding they deserve to launch and grow their small businesses.” 

Starting today, Detroit-area entrepreneurs can apply for funding directly on Mona’s platform, where the team will reach out to help navigate funding options and secure capital.