In response to the economic impact of COVID-19, the State of Michigan has allocated $100 million of CARES Act funding to implement the Michigan Small Business Restart Program to support the needs of Michigan Businesses directly impacted by COVID-19.
The application for businesses to apply for funding will open on July 15th. You can visit their page for the application by clicking here, or read below for more information on the funding.
Grant Information
In an effort to continue to support small businesses, the Michigan Small Business Restart Program will provide funding to local economic development organizations (EDOs) who will provide grants to eligible small businesses that have been negatively impacted by COVID-19 and need working capital to support payroll expenses, rent, mortgage payments, utility expenses or other similar expenses.
Grant Eligibility
Businesses and nonprofits with 50 or fewer employees, worldwide, located in Michigan who have NOT received a grant under the Michigan Small Business Relief Program (MSBRP) from the 15 local EDOs listed below are eligible to apply. Businesses must also demonstrate the following:
- Part of an industry or nonprofit that can demonstrate it has been impacted by the COVID-19 emergency
- Needs working capital to support payroll expenses, rent, mortgage payments, utility expenses or other similar expenses
- Demonstrates an income loss as result of the COVID-19 emergency as determined by the Michigan Strategic Fund (MSF).
Additionally, at least 30 percent of the funds awarded under this program will be provided to women-owned, minority-owned or veteran-owned eligible businesses. The MEDC anticipates that more than 5,000 businesses across the state will benefit from this program.
The partnering EDOs are listed here and cover all 83 counties in Michigan. You can also visit the page to apply for the funding and learn even more about it.
