Lansing, Mich. (WLNS) — Michigan’s small companies impacted by the current COVID-19 emergency “gatherings and face masks orders” can start making use of for $55 million in Michigan Small Enterprise Survival grants by way of the Michigan Financial Improvement Company tomorrow at 9:00 a.m. EST.
This system was approved by the Michigan Strategic Fund on Jan. 14.
“The Michigan Small Enterprise Survival Grants Program will assist small companies all through Michigan hardest hit by the impression of COVID-19, particularly as they proceed to expertise extra pressure within the winter months,” mentioned Governor Gretchen Whitmer. “This program gives a big alternative to deal with the fast wants of those companies, and I strongly encourage all eligible companies to use for help.”
The Michigan Small Business Survival Grant Program was signed into law by Governor Whitmer to satisfy the pressing want of Michigan small companies which have skilled a big monetary hardship because the “gatherings and face masks orders” went into impact. Grants of as much as $20,000 will likely be awarded to companies which might be absolutely closed, with grants of as much as $15,000 awarded to companies which were partially closed, or in any other case are open and may reveal an impression.
To assist companies put together, assets together with the applying questions, a tutorial video on apply, and directions for registering within the software platform previous to Tuesday morning can be found on www.michiganbusiness.org/survival. That very same touchdown web page is the place the one, statewide software will go stay on 9:00 a.m. EST on Tuesday, January 19 by way of 12:00 p.m. (midday) ETS on Friday, January 22, 2021.
The Michigan Small Enterprise Survival Grants will likely be administered by 15 native or nonprofit financial improvement organizations (EDOs) protecting all 83 counties throughout the state. All submitted purposes will likely be reviewed by the EDOs based mostly on eligibility necessities and native priorities and aims. Grants will not be awarded on a first-come, first-served foundation.
Companies should meet the entire following eligibility necessities:
· Had 1 to 100 workers (together with full-time, part-time and proprietor/workers) on a world-wide foundation on November 17, 2020.
· Is in an business that demonstrates it’s affected by the “gatherings and face masks orders.”
· Wants working capital to help payroll bills, lease, mortgage funds, utility bills, or different comparable bills.
·Can reveal an revenue loss on account of the orders as decided by the EDO wherein an eligible enterprise is situated.
· Is just not a stay music and leisure venue that’s eligible for the Michigan Stage Survival grant program.
Particular person EDOs might have extra eligibility necessities, which companies will have the ability to entry from the michiganbusiness.org/survival touchdown web page. EDOs may also have discretion on grant awards as much as the utmost of $20,000 for companies which might be absolutely closed and $15,000 to companies which were partially closed, or in any other case are open and may reveal an impression.
For the comfort of candidates, an digital queue system may also be in impact as soon as once more with companies getting into the queue previous to entry into the applying. Companies will have the ability to signal as much as obtain an alert once they have reached the entrance of the queue with quarter-hour to begin the applying as soon as they’ve been notified that they’ve reached the entrance of the queue.
Per statutory necessities, a month-to-month report will likely be supplied to the legislature that features a itemizing of grants awarded within the earlier month and the title of the recipient of every grant supplied underneath this system. A full checklist of grant awardees will likely be accessible on michiganbusiness.org/survival.
“We have now seen the pressing want for these assets for small companies throughout the state, and MEDC is proud to work with our native companions to make sure this funding will get into the arms of companies effectively, successfully and with the best impression potential,” mentioned MEDC CEO Mark A. Burton.
In complete, the MEDC has now launched 23 COVID-19 reduction and restoration packages which have supported greater than 18,500 companies within the state and helped to retain almost 147,000 jobs throughout all 83 counties. To be taught extra about MEDC’s COVID-19 response packages and the impression they’re having on financial restoration efforts, go to michiganbusiness.org/covid19response. Different assets for financial reopening efforts in addition to companies throughout Michigan battling financial losses on account of the COVID-19 virus will be discovered on-line at michiganbusiness.org/covid19.