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$10 MILLION GRANT PROGRAM APPROVED FOR MICHIGAN SMALL BUSINESSES

$10 MILLION GRANT PROGRAM APPROVED FOR MICHIGAN SMALL BUSINESSES

The Michigan Strategic Fund recently announced the approval of the Pure Michigan Small Business Relief Initiative which will utilize federal CARES Act funding to provide $10 Million in grants to Michigan small businesses which were disproportionately impacted by COVID-19. Grants will be awarded in amounts of up to $15,000 per eligible business. The application period for small businesses to apply for grant funding begins December 15, 2020.

To qualify for grant support, businesses must meet certain eligibility criteria including but not limited to:

  • Being in one of the targeted industries disproportionately impacted;
  • Can identify a need for payroll, rent or mortgage payments, and/or utility expenses necessary to continue or restart business operations;
  • Have at least two employees, including owners, but fewer than 50 employees;
  • Additional eligibility requirements can be found at Michiganbusiness.org/relief.

Contact a small business tax advisor to help you determine if your business is eligible. Additional COVID resources can be found here. 

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