Apps for MEDC compact business aid grants open up Tuesday

Tiny small business homeowners negatively impacted by the COVID-19 pandemic will be equipped to use for a grant of up to $20,000 starting off Tuesday.

The Michigan Strategic Fund board on Thursday accepted $55 million in grants for modest companies, section of a broader COVID-19 aid monthly bill passed by the Michigan Legislature and signed by Gov. Gretchen Whitmer last year. 

The Michigan Financial Advancement Corporation is coordinating the effort with 15 community or nonprofit economic development companies that cover the 83 counties throughout the state awarding the funds.

Grants of up to $20,000 are readily available to enterprises that are fully closed. Grants of up to $15,000 will go to businesses that have been partially closed, or are open up and can exhibit the harmful impact the pandemic has experienced on their enterprise.