LANSING—More than 2,700 small businesses around Michigan have been awarded a total of $10 million in grants by local economic development organizations through the Michigan Small Business Relief Program, the Michigan Economic Development Corp. announced.
The grants under the Michigan Small Business Relief Program are intended to support businesses facing drastic reductions in cash flow due to the coronavirus pandemic and may be used for working capital to support payroll expenses, rent, mortgage payments, utility expenses, or other expenses that occur in the ordinary course of business.
The Michigan Small Business Relief Program grants, authorized by the Michigan Strategic Fund March 19, were administered by 15 local and nonprofit economic development organizations around Michigan. The organizations were selected through a competitive process based on capacity to administer the program and ensure coverage to small businesses in all 83 counties in Michigan.
Each organization established a review committee that could include representatives from local workforce agencies, local SBDC representatives, business and nonprofit leaders, among others.
In addition to the $10 million in grant funds, the Michigan Strategic Fund also approved $10 million in loans through the Michigan Small Business Relief Program that are being referred to the MEDC from the local economic organizations. Those loan applications are currently being reviewed by a loan review committee.
The local partners were:
- Invest UP, 80 grants totaling $500,000, covering Keweenaw, Houghton, Ontonagon, Gogebic, Baraga, Iron, Marquette, Dickinson, Menominee, Alger, Delta, Schoolcraft, Luce, Mackinac, and Chippewa counties
- Networks Northwest, 75 grants totaling $500,000, covering Emmet, Grand Traverse, Charlevoix, Antrim, Kalkaska, Missaukee, Wexford, Manistee, Benzie, and Leelanau counties
- Otsego County Economic Alliance, 55 grants totaling $200,000, covering Otsego, Crawford, Roscommon, Montmorency, Ogemaw, and Oscoda counties
- Target Alpena, 116 grants totaling $200,000, covering Iosco, Alcona, Alpena, Presque Isle, and Cheboygan counties
- The Right Place, 173 grants totaling $1 million, covering Barry, Ionia, Kent, Lake, Mason, Mecosta, Montcalm, Muskegon, Newaygo, Oceana, and Osceola counties
- Lakeshore Advantage, 31 grants totaling $300,000, covering Allegan and Ottawa counties
- Middle Michigan Development Corp., 165 grants totaling $200,000, covering Isabella, Gratiot, Clare, and Gladwin counties
- Saginaw Future, 209 grants totaling $400,000, covering Arenac, Bay, Midland, and Saginaw counties
- Flint & Genesee Chamber, 191 grants totaling $850,000, covering Shiawassee, Genesee, Lapeer, St. Clair, Tuscola, Sanilac, and Huron counties
- Lansing Economic Area Partnership, 60 grants totaling $600,000, covering Clinton, Eaton, and Ingham counties
- Southwest Michigan First, 145 grants totaling $800,000, covering Kalamazoo, St. Joseph, Berrien, Calhoun, Van Buren, Cass, and Branch counties
- Ann Arbor Spark, 198 grants totaling $900,000, covering Washtenaw, Hillsdale, Jackson, Lenawee, and Monroe counties
- Oakland County, 797 grants totaling $1.15 million
- Macomb County, 123 grants totaling $800,000
- Detroit Economic Growth Corp., 316 grants totaling $1.6 million covering Wayne County
The $10 million in grant funds leveraged an additional $3.185 million in matching dollars around the state through local economic development and foundation partners.
To see the full list of businesses that received MSBRP grants, visit www.michiganbusiness.org/about-medc/covid19/small-business-relief-program/.
The Michigan Small Business Relief Program grants builds on previous COVID-19 support announced through the MEDC, including:
- The PMBC COVID-19 Emergency Access and Retooling Grants program, which awarded $1 million to 12 small manufacturers and non-profits in the state looking to retool and produce critical health and human service supplies in response to the COVID-19 outbreak
- Collateral support through the Capital Access program that allowed National Filters to purchase equipment necessary to vastly increase surgical mask production begin producing N95 respirators as well as rehire 16 employees who had been previously laid off due to the COVID-19 outbreak.
- The launch of MIpaycheckprotection.com in collaboration with the Small Business Association of Michigan (SBAM) and the Michigan Association of Certified Public Accountants to help 103,811 small businesses in Michigan receive more than $15.9 billion in forgivable loans during two rounds of Paycheck Protection Program funding.
- Working with the Michigan Small Business Development Center to support Governor Whitmer’s successful request to the U.S. Small Business Administration for a statewide Economic Injury Disaster Loan (EIDL) declaration, opening the opportunity to small businesses to access low-interest loans from the SBA.
- The Michigan Council for Arts and Cultural Affairs (MCACA) launched a new program providing a total of $502,400 in federal grants to Michigan’s eligible nonprofit arts and culture organizations that have been negatively impacted as a result of the COVID-19 outbreak.
Other resources for businesses across Michigan struggling with economic losses as a result of the COVID-19 virus can be found online at michiganbusiness.org/covid19. This site includes resources offered by the U.S. Small Business Administration, MEDC’s Access to Capital programs, the Pure Michigan Business Connect virtual procurement and donation platform, support services offered through the Small Business Development Center and more. The MEDC has also developed a FAQ for Michigan businesses and communities at michiganbusiness.org/covid19-faq.
Information around this outbreak is changing rapidly. The latest information is available at Michigan.gov/Coronavirus and CDC.gov/Coronavirus.