The State of Michigan allocated $100 million of CARES Act funding to implement the Michigan Small Business Restart Program to support the needs of businesses directly impacted by COVID-19.
The funds will be administered by 15 local economic development organizations to support small businesses in all Michigan counties. At least 30% of the funds will be awarded to eligible women-owned, minority-owned or veteran-owned businesses.
The program will provide grants to eligible small businesses that need working capital to support payroll expenses, rent, mortgage payments, utility expenses or other similar expenses.
- Businesses and nonprofits with 50 or fewer employees (not FTEs) are eligible.
- Grants must be used for expenditures made between March 1, 2020, and December 30, 2020.
- Applications are due August 5, 2020. Applicants can apply for up to $20,000 in grant funds.
Refer to the Michigan Small Business Restart Program on the MEDC website for eligibility requirements, program guidelines, the application questions, a grant application, and Frequently Asked Questions.
If you have any questions about the grants, contact the MEDC Customer Care Center at (888) 522-0103 or send an email to email@example.com. Contact your Yeo & Yeo professional if you need assistance.