LANSING, Mich. — To help small businesses rebound from the economic stresses created by the pandemic, the Michigan Economic Development Corporation is providing matching grants tied to crowdfunding through Patonicity, a platform based in Michigan.
“This program offers innovative access to capital for those businesses currently experiencing a loss in revenue directly related to the COVID-19 crisis,” said MEDC CEO Mark A. Burton in a release.
The program is called MILocalBiz, and for every dollar a small business raises through Patonicity, up to $5,000, the MEDC matches it with a grant. MEDC plans to provide up to $500,000.
Businesses in 42 Michigan counties are already participating since MILocalBiz started in May.