WAYNE COUNTY — Small businesses in Wayne and every other county in Michigan can now apply for grants of up to $20,000 through the state’s Small Business Restart Program. The program seeks to aid business that been negatively impacted by the COVID-19 crisis, with an application process that begins July 15 at 9 a.m. and closes on August 5 at 11:59 p.m.
At least 30 percent of the funds awarded under the state-wide program must be provided to women-owned, minority-owned or veteran-owned eligible businesses.
The Small Business Restart program is making $100 million in economic assistance available to all 83 counties in the state by distributing funds to local or non-profit economic development organizations (EDOs). The Detroit Economic Growth Corporation received $15,545,450 for Wayne County businesses to apply for assistance.
The Michigan Small Business Restart Program application period will be live through Wednesday, August 5 at michiganbusiness.org/restart. All applications received during that three week period will receive consideration.
Grants will be awarded after the close of the application period based on criteria that are defined by the EDOs. Funds can be used as working capital to support payroll expenses, rent, mortgage payments, utility expenses or other similar expenses.
To qualify for grant support, businesses must meet the following criteria:
- Have 50 employees or less
- Be in an industry that has demonstrated it has been affected by the COVID-19 emergency
- Demonstrate the incurred income loss as a result of the COVID-19 emergency
- Demonstrate the need for working capital for eligible expenses
- Did not receive or been approved to receive a grant under the Michigan Small Business Relief Program created by the Michigan Strategic Fund (MSF) on March 19, 2020.
Businesses that received a Small Business Relief Grant are ineligible to apply. However, Paycheck Protection Program (PPP) and Match on Main recipient businesses are eligible.
The Michigan Economic Development Corporation (MEDC) anticipates that more than 5,000 businesses across the state will benefit from this program. View the application and more details about eligibility here: https://www.michiganbusiness.org/restart/
“The Michigan Small Business Restart Program puts federal funding to work for small businesses in Michigan hardest hit by the impact of COVID-19, helping to ensure they can keep their doors open and put critical protections in place for their workers and their customers,” Governor Whitmer said. “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.”