Businesses disproportionately impacted by the pandemic may qualify for up to $15,000 in financial relief. | Stock Photo
Businesses disproportionately impacted by the pandemic may qualify for up to $15,000 in financial relief. | Stock Photo
The Michigan Strategic Fund recently approved a $10 million grant program to help support small businesses that have been disproportionately impacted bythe COVID-19 pandemic, according to the Michigan Economic Development Corporation.
The Pure Michigan Small Business Relief Initiative has been launched to provide financial relief to Michigan small businesses disproportionately impacted the pandemic including restaurants and bars, lodging providers, live event venues and movie theaters, conference and meeting facilities, indoor recreation facilities, and gyms and fitness centers.
The program has received $10 million in federal CARES Act funding to provide funds to qualified grant administrators who will administer and allocate grants to eligible Michigan businesses.
The deadline for Applications is 1 p.m. on Wednesday, December 2, for eligible nonprofit organizations interested in administering the grants. Interested organizations can submit their applications online at www.michiganbusiness.org/relief.
Eligible businesses may qualify for a grant up to $15,000 to help cover the costs of payroll expenses, rent, mortgage payments, or utility expenses. To be eligible, qualifying businesses must be in one of the sectors targeted for assistance; demonstrate need for assistance with payroll, rent, or mortgage payments, and/or utility expenses necessary to continue or restart business operations; have at least two employees (including the owner) but no more than 50 employees; additional eligibility requirements apply and can be found online at www.michiganbusiness.org/relief.
Applicants will also be required to self-certify that they are following all state and local COVID-19 orders. Visitors can find a full list of requirements here.
The program is scheduled to begin accepting applications for small business grants on Tuesday, Dec. 15.
Funds will be awarded on a first come, first serve basis or until targeted allocations within each of the state’s 10 prosperity regions are reasonably expected to be met.
A complete list of grant recipients through this program will be posted online at michiganbusiness.org/relief.
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