Critical relief totaling nearly $100 million for more than 14,000 small businesses across the state has been awarded to date through the Michigan Small Business Restart Grant program, Gov. Gretchen Whitmer announced Tuesday.
“Families across the state depend on small businesses for their livelihood, and these grants, combined with additional COVID-19 business relief efforts offered by the MEDC, have helped to create a strong foundation for Michigan’s long-term economic recovery,” said Whitmer. “By putting federal funding to work for Michigan’s small businesses and additional COVID-19 relief efforts, we have made a real impact on our families and our communities.
“Of course, our work is not done. We still need the president and Senate Majority Leader Mitch McConnell to work across the aisle on a bipartisan recovery package that will provide support for our families, frontline workers, and small businesses. I will continue working with all of our partners, both at the federal and the state level, to get this done for our small business owners.”
Tuesday’s announcement brings the total amount awarded through the program to $95.6 million, up from $69 million announced at the end of September. A total of 5 percent of overall funding for the program was able to go toward administrative costs of the EDOs administering the grants.
Approved by the Michigan Strategic Fund in July, the Michigan Small Business Restart Program allocated $100 million of federal CARES Act funding to provide support to Michigan’s small businesses and nonprofits that are reopening and have experienced a loss of income as a result of the COVID-19 crisis. The funding was distributed across 15 local or nonprofit economic development organizations (EDOs) covering all 83 counties in the state for grants up to $20,000 to support certain small businesses and nonprofits that have realized a significant financial hardship as a result of the COVID-19 pandemic.
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