UPDATE: $55 Million – Michigan Small Business Survival Program Grants

Members,

Below is information regarding the newest grant program that will go through MEDC. This program has a much shorter and simpler application process compared to previous grant programs. This time, applications will not be accepted on a first come, first serve basis. All applications sent in before the deadline will be considered. This program comes from the $100 million stimulus that was recently passed by the legislature and was something the MLBA fought hard to have introduced and approved.

If you have any questions, please reach out to the MLBA office at 517-374-9611.

Thank you!

 

FROM MEDC: 

The Michigan Strategic Fund Board held a special meeting today to approve the $55 million Michigan Small Business Survival Program, which will provide grant funding for businesses that have been impacted by the MDHHS epidemic orders.

The Michigan Small Business Survival Program will provide funding to 15 local economic development organizations (EDOs), who will them disseminate the grants to businesses. The 15 partnering EDOs will ensure this program provides funding throughout all 83 counties in Michigan.

You can go to michiganbusiness.org/survival to see a list of the 15 local EDOs and the counties they will cover through the program. This is also where businesses can begin accessing the application questions, find information on how to register in ConnectSpace prior to the application process, watch a video explaining how to navigate the application process and learn more about the eligibility criteria. The application itself will open beginning at 9 a.m. on January 19.

Applications will open for the program at 9 a.m. EST on January 19 on michiganbusiness.org/survival, and will close at Noon on January 22.

Businesses that have been fully closed since November 18, 2020, may be eligible for up to $20,000 in grants, while those businesses that have been partially closed – or are otherwise open – may apply for grants up to $15,000. Funding through this program can be used to support working capital needs, such as payroll expenses, rent, mortgage payments, utility expenses and other similar expenses.

The application period for these grants will close at Noon on January 22, after which time the local EDOs will complete the application review process and make grant awards. Please note, all applications received during the application period will be reviewed and considered; grants are not being awarded on a first come, first serve basis. If you know of small businesses in your networks or organizations that may qualify for this support, we encourage you to pass this information along.

The Board also approved the $3.5 million Michigan Stages Survival Program, which will support the state’s live music and entertainment venues that have been negatively impacted by the ongoing COVID-19 pandemic. Applications will open for the program at 9:00 a.m. EST on Thursday, January 21 on michiganbusiness.org/stages, and will close on January 28 at 12:00 p.m. (noon) EST.