The Michigan Economic Development Corporation is offering a grant opportunity to specific businesses hardest hit by the recent closures. The application period for small businesses seeking grants will begin on Tuesday, December 15.
The Pure Michigan Small Business Relief Initiative 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.
The program will provide a total of $10 million for the state to one or more qualified grant administrators, who will administer and allocate grants of up to $15,000 each to eligible businesses around the state. Funds will be awarded on a first come, first serve basis.
To qualify for grant support, businesses must meet a number of criteria, including but not limited to:
- Being a business in one of the targeted industries;
- Identifying a need for payroll, rent, or mortgage payments, and/or utility expenses necessary to continue or restart business operations;
- Having at least two employees (including the owner) but fewer than 50;
- Additional eligibility requirements can be found on Michiganbusiness.org/relief