Michigan Will Distribute $58.5 Million To Businesses Affected By Pandemic

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The Michigan Strategic Fund has approved to distribute $58.5 million dollars in grants to businesses affected by the pandemic.

The plan includes an allocation to the Michigan Strategic Fund under the Michigan Economic Development Corporation to distribute grants to eligible businesses.

Two grant programs have been approved: the Michigan Small Business Survival Grant Program and the Michigan Stages Survival Grant Program.

According to the Michigan Economic Development Corporation, the Michigan Small Business Survival Grant Program helps businesses that closed or partially closed during the pandemic, and the Michigan Stages Survival Grant Program helps businesses pay employees who were laid off.

The Michigan Small Business Survival Grant Program will award $55 million in grants of up to $20,000 for small businesses that closed due to the pandemic.

The program will also award grants of up to $15,000 for businesses that partially closed.

To be eligible for a grant, businesses must have had one to 100 employees on November 17th and show how pandemic restrictions impacted them.

Additionally, the Michigan Stages Survival Grant Program will award grants of up to $40,000 to help entertainment venues. That program totals out to $3.5 million.

To be eligible for a grant from the Michigan Stages Survival Grant Program, the Michigan Economic Development Corporation says entertainment venues must produce or provide live performances.

They also say venues must employ less than 30 full-time employees, and cannot apply for the Michigan Small Business Survival Grant Program.

The Michigan Economic Development Corporation says funds from both programs can be used for payroll expenses, rent and mortgage payments, utility payments, and other business related expenses.

Applications for the Michigan Small Business Survival Grant Program will open Tuesday and will close Friday. Grants will be distributed on February 28th, but the Michigan Economic Development Corporation says the grants could be distributed as soon as January 29th.

Applications for the Michigan Stages Survival Grant Program opens January 21st and will close January 28th.

To learn more about both Michigan grants, click here. 

Categories: Coronavirus