Michigan’s small businesses that have been disproportionately impacted by the COVID-19 virus will be able to apply for grants of up to $15,000 through the Pure Michigan Small Business Relief Initiative beginning at 9 a.m. on Tuesday, Dec. 15, according to the Michigan Economic Development Corporation.
The program will utilize $10 million in federal U.S. Housing and Urban Development (HUD) CARES Act funding to provide economic assistance to small businesses across Michigan.
Grants will be awarded in the amount of up to $15,000 per eligible business on a “first-in” basis.
Information on how to apply as well as eligibility criteria and program guidelines are available at www.michiganbusiness.org/relief.
Approved by the Michigan Strategic Fund on Nov. 30, the Pure Michigan Small Business Relief Initiative allocates $10 million of federal CARES Act funding to provide support to Michigan’s small businesses that have experienced a loss of income as a result of both the COVID-19 crisis and the recent DHHS epidemic orders, which were recently extended to Dec. 20.
The program is intended to meet the urgent need of Michigan businesses including restaurants and bars, lodging providers, live event venues and movie theaters, conference and meeting facilities, indoor recreation facilities, and gyms and fitness centers.
The grants under the program will support those businesses facing drastic reductions in cash flow and the continued support of their workforce and may be used for working capital to support payroll expenses, rent, mortgage payments, or utility expenses.
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