Small businesses impacted by coronavirus can now apply for the Michigan Small Business Relief Program’s grants and loans.
The Michigan Economic Development Corporation announced Friday that the application process is officially live.
The Michigan Small Business Relief Program will provide up to $20 million in grants and loans to help small business impacted by COVID-19 to help support workers and their families facing economic uncertainty during the coronavirus crisis.
“Small businesses across our state are facing unprecedented challenges as we take every step possible to mitigate the spread of coronavirus,” said Governor Gretchen Whitmer. “With this funding, we can provide real assistance to support our businesses, communities, entrepreneurs and workers around the state impacted by the tough, but necessary actions we are taking to mitigate the spread of this virus.”
To learn more about how to apply and check your eligibility, .
- Here’s what you need to know about the application process:
- There is one application, regardless of whether a business is applying for a grant or a loan. A business may receive a grant or a loan, but not both.
- Businesses who do not receive grants may still be considered for loans.
- The grants will be administrated by 15 regional economic development organizations throughout the state, which combined cover all 83 counties in Michigan.
- All applications or recommendations for Michigan Small Business Relief Program loans will be referred from the partner EDOs to the MEDC for evaluation and disbursement.
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