LANSING, Mich. — About $100 million in assistance for the state’s small businesses and non-profits will be distributed in grants of up to $20,000.
The Michigan Small Business Restart Program is intended to help in recovery from the economic impact of the ongoing COVID-19 pandemic, says the Michigan Economic Development Corporation in a release.
“Families across the state depend on small businesses for their livelihood, and this program will build on additional COVID-19 business relief efforts offered by the MEDC to create a strong foundation for Michigan’s long-term economic recovery,” said Gov. Whitmer in the release.
The money is allocated to the state by the federal CARES Act.
Here is how the grants will be distributed in West Michigan counties and through which entities:
- Barry, Ionia, Kent, Lake, Mason, Mecosta, Montcalm, Muskegon, Newaygo, Oceana, Osceola: The Right Place, $9,545,455.
- Allegan, Ottawa, Lakeshore Advantage, $3,500,000.
- Kalamazoo, St. Joseph, Berrien, Calhoun, Van Buren, Cass, Branch, Southwest Michigan First, $7,545,455.
The application period ends August 5, 2020.
To qualify, a business must employ 50 or fewer people and be able to demonstrate that it has suffered a loss of income due to the coronavirus emergency and needs working capital. Thirty percent of grants awarded are required to go to entities owned by minorities, women, or veterans.