LANSING — The state of Michigan announced that $52.5 million will be given to nearly 6,000 small businesses across the state that have been hurt by the COVID-19 pandemic.
Governor Whitmer said the money will be coming from the Michigan Small Business Survival Grant Program.
“The Michigan Small Business Survival Grant Program provides crucial support to Michigan’s small businesses hit hard by the COVID-19 pandemic,” she said. “These grants, combined with additional business relief efforts offered by the MEDC (Michigan Economic Development Corporation), will create a strong foundation for Michigan’s long-term economic recovery.”
The Michigan Small Business Survival Grant Program allocated $55 million to provide support to small businesses and allows for grants of up to $20,000 for businesses that are fully closed and grants of up to $15,000 for those that have been partially closed or otherwise affected by the COVID-19 restrictions.
Five percent of overall funding went towards administrative costs of the economic development organizations administering the grants.
To be eligible for the grants, businesses were required to have one to 100 employees on a world-wide basis, be in an industry affected by the MDHHS epidemic orders, needed working capital to support payroll expenses, rent, utility and mortgage payments, demonstrated an income loss as a result of the order as determined by the EDO in which an eligible business is located and was not a live music or entertainment venue eligible for the Michigan Stage Survival grant program.
In total there have now been 23 COVID-19 relief and recovery programs launched by the MEDC that have supported 24,460 businesses throughout the state, helping to retain nearly 200,000 jobs.