Opening the doors to Spot Lite Detroit founder and owner Roula David costs around $550,000.
David has been part of the city’s arts and entertainment scene since arriving in the city in 2011. She said the cafe, bar, gallery, record store and concert hall on the east side would not have not possible without the various resources available to Detroit entrepreneurs.
“These resources are critical,” said David, who opened the 5,000 square foot entertainment venue last spring. “No (traditional) bank will give you money. They are all community lenders. can’t pay it back. With the pandemic, our lender gave us leniency on interest only. No other bank was going to do this. Without community lenders and other resources, this wouldn’t have been possible.
The Detroit Development Fund supported Roula’s entrepreneurial endeavors with a $264,000 loan. ProsperUS Detroit and Michigan Women Forward loaned David $50,000 each. And in 2018, David won a $40,000 Motor City Match cash prize.
David is one of many who believe the city is ripe for entrepreneurs already here or looking for a way into the music industry.
Detroit is almost unrivaled as a music city, at least if you count its contributions to music history, from jazz, soul and Motown to punk, techno, garage rock and -of the. While the business is evolving, there are still many opportunities – and increasingly focused resources – for artists, label owners and other cultural entrepreneurs to thrive in Detroit’s rich musical soil.