Little organizations in Michigan impacted by the COVID-19 pandemic can utilize for further grant money subsequent week — and $4 million of the pot will be out there to Detroit firms.
The Michigan Strategic Fund approved Thursday the Michigan Modest Organization Survival Grant System, which provides $55 million in grants to eligible little businesses. The application period will run from 9 a.m. Jan. 19 to noon Jan. 22.
The more funding is a end result a aid monthly bill Gov. Gretchen Whitmer signed into legislation on Dec. 29. The application is among the practically two dozen COVID reduction packages the Michigan Economic Development Corp. has applied, officials mentioned, resulting in the distribution of a lot more than $240 million to little corporations across the state.
“From the starting, my administration has been deeply fully commited to supplying some crucial assist to Michigan’s compact corporations that have been strike tough by the COVID-19 pandemic,” Whitmer mentioned in a statement. “With these grant plans, we can deliver instant help to these organizations. As we get the job done to distribute the protected and helpful vaccine and end the pandemic after and for all, I will keep on to companion with leaders throughout the state to give reduction for our compact businesses and their workforce.”
To qualify, companies should fulfill standards together with:
- Had 1 to 100 workers on Nov. 17, 2020.
- Is in an sector that demonstrates it is impacted by the Department of Overall health and Human Providers epidemic orders.
- Demands operating money to help bills including payroll charges, rent, property finance loan payments and utility expenditures.
- Can reveal an revenue decline as a result of the order.
- Is not a reside music and amusement location qualified for the Michigan Phase Survival grant method, which was also permitted Thursday.
The Detroit Economic Expansion Corp. is among the 15 financial development organizations getting ready to administer funds throughout all 83 counties. In a press conference, Mayor Mike Duggan urged tiny corporations in Detroit to utilize for the grant.
“We want you to get these apps in up coming 7 days so that we can preserve our businesses going,” Duggan mentioned.
The DEGC will allocate $8,550,000 in cash for Wayne County with $4 million distributed to businesses in Detroit, DEGC CEO Kevin Johnson mentioned. Grants will assortment from up to $15,000 for organization that have been partly closed to up to $20,000 for organization that have shut.
Considering the fact that the pandemic started around 10 months in the past, Johnson said the DEGC has distributed far more than $11 million in grant resources to 1,700 Detroit modest corporations.
Frederick Paul, proprietor of the Fahrenheit 313, a sneaker trade shop on Livernois, stated he’s used for quite a few regional and federal grants because the start off of the pandemic. He is acquired a few, such as one particular from the Michigan Compact Organization Restart Software.
Paul opened his retail outlet in early 2020. He said business has been slow because of to the pandemic, primarily in the course of the winter season months, and which is why he ideas to apply for this most recent grant.
“For me it’s a make a difference of everyday living or death or survival suitable now, particularly with all the things heading on,” he explained. “My assistance for business enterprise entrepreneurs is to implement. It might look the probabilities are trim, but just implement.”
Intrigued organizations can utilize at michiganbusiness.org/survival.
Twitter: @CWilliams_DN
