Michigan Auto Supplier Transition
Program (MAST-P)
Program (MAST-P)
No-cost legal, accounting, and financial services that prepare Michigan suppliers to access capital
MAST-P covers professional services that make a small manufacturer capital-ready:
financial statements, cost models, loan application packaging, and the legal work behind a financing.
The program is funded through the federal State Small Business Credit Initiative (SSBCI) and administered by the Michigan Economic Development Corporation on behalf of the Michigan Strategic Fund. Your company pays nothing and puts up no match.
The Services
Accepted companies receive no-cost legal, accounting, and financial advisory services, matched to what is standing between the business and financing. Examples:
- Financial statements, models, and projections a lender will accept
- Job costing and cost management, so you know what you earn on each part
- Loan and investment application preparation
- Cleanup and digitization of business records
- Business formation, governance, and contract work
- Guidance on the specific factors limiting your access to credit
Services delivered by partner organizations: the Michigan Manufacturing Technology Center, the Michigan 360 Business Council, and the University of Michigan Economic Growth Institute.
The Outcome
MAST-P prepares you to apply for and win financing through programs such as:
- MEDC’s Capital Access, Collateral Support, Loan Participation, and Loan Guarantee programs, delivered through participating banks, credit unions, and CDFIs
- SBA loan products and other federal or state small business programs
MAST-P provides no loans, grants, or investment to participating companies. The program pays for professional services that help you pursue financing from capital providers.
Eligibility
Your business may qualify if all three of these apply:
1. Automotive supply chain connection. Internal combustion engine components, aftermarket supply, or related automotive manufacturing.
2. Capital application status. You are applying for, preparing to apply for, or have previously applied for financing from an SSBCI-supported program or another federal or state small business program.
3. Very small or SEDI-owned. One of the following:
- Fewer than 10 employees, including independent contractors and sole proprietors, or
- Owned by socially and economically disadvantaged individuals. This includes owners with diminished access to credit on the basis of racial or ethnic prejudice, gender, veteran status, limited English proficiency, disability, long-term rural residence, or residence in a community undergoing economic transition, and businesses located in a CDFI Investment Area.
The Process
1. Application. Submit a short form covering your company, your financial position, and your capital goals.
2. Eligibility review. We confirm your eligibility and refer companies that fall outside the program to other services.
3. Work with EGI. We help deliver the legal, accounting, and financial services your business needs, at no cost to you.
Cost and Availability
The grant covers the full cost of services up to $25,000 per company. MAST-P runs until the end of 2027 with limited funding.
Program Partners
MEDC leads MAST-P on behalf of the Michigan Strategic Fund, with the Michigan Department of Labor and Economic Opportunity. Delivery partners: Automation Alley, the Michigan Manufacturers Association, the Michigan Manufacturing Technology Center, the 360 Business Council, and the University of Michigan Economic Growth Institute.
Lead Agency
Program Partners
Contact
Kiarra Terry for more information:
[email protected] or 734-218-5107
Complete this form to work with EGI and receive a business assessment, a customized recommendation plan, and
no-cost funding for identified services.
* These fields are required.
Meet our helpful Staff
Steven Wilson
Executive Director
Ashlee Breitner
Managing Director
Stephanie Ludwig
Director of Industry Programs
Vikesh Chandrashekar
Senior Project Manager
Brooke Sweeney
Project Manager
