Grants Available for Michigan Small Businesses to Meet Capital Needs

Grants Available for Michigan Small Businesses to Meet Capital Needs

CPAs & Advisors

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Apply for Grants to Meet Capital Needs Beginning December 15, 2020

The Michigan Economic Development Corporation (MEDC) will offer $10 million in grants for Michigan small businesses adversely affected by COVID-19 to meet urgent capital needs such as rent and utilities.

Eligible businesses are limited to the following:

  • Restaurants, bars and other food and beverage service providers
  • Travel and tourism destinations including lodging providers
  • Live event venues and movie theaters
  • Conference and meeting facilities
  • Ice skating rinks, indoor water parks and bowling centers
  • Gyms and fitness centers

Each business can qualify for up to $15,000 in funding if they meet the eligibility criteria, which includes but is not limited to :

  • Having fewer than 50 employees
  • Complying with all State and local COVID-19 orders
  • Identifying a need for payroll, rent or mortgage payments and/or utility expenses.

The grant application opens on Tuesday, December 15. Grants will be awarded on a first-come, first-served basis, and funding will be split among each of Michigan’s ten prosperity regions. 

Visit the MEDC website to learn more about the application process, review complete eligibility requirements and submit an application.

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