LANSING (AP) — Relief is coming to Michigan businesses after a board last week approved $58.5 million in grants for economic losses due to the coronavirus pandemic that has strained the state’s economy.
Gov. Gretchen Whitmer last month signed into law a spending plan to help repair the economic impact from the coronavirus. It included an allocation to the Michigan Strategic Fund under the Michigan Economic Development Corp. to distribute grants to eligible businesses.
The board approved two programs to distribute funds during a meeting last Thursday: the Michigan Small Business Survival Grant Program to help businesses that had to close or partially close during the pandemic; and the Michigan Stages Survival Grant Program to help businesses pay workers who were laid off.
Funds from both programs can be used for payroll expenses, building expenses and other business related expenses.
The Michigan Small Business Survival Grant Program will award $55 million in grants of up to $20,000 for small businesses that were forced to close and grants of up to $15,000 for the businesses partially closed.
To be eligible for a grant, businesses must have had one to 100 employees on Nov. 17 and show the impact pandemic restrictions had on them.
The Michigan Stages Survival Grant Program will award grants of up to $40,000 to help entertainment venues, for a total of $3.5 million.
To be eligible, venues must normally produce or provide live performances. They must also employ less than 30 full-time employees and can’t apply for the Michigan Small Business Survival Grant Program.
Program applications will close Friday. Grants will be distributed by Feb. 28, but could come as soon as Jan. 29.
The grants are not first-come first-serve, unlike a $10 million strategic fund program in December when more than 22,000 small businesses raced for about 650 grants.
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