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The Michigan Strategic Fund has approved economic assistance for small businesses around Michigan that have been negatively impacted by the COVID-19 virus. The Small Business Relief Program authorizes the MEDC to provide up to $20 million in support for small businesses, divided equally in the form of small business grants and loans. Funds for the program are expected to be available no later than April 1, 2020. Additional details on how to apply will be forthcoming.
To qualify for grant support, businesses must meet the following criteria:
To qualify for loan support, businesses must meet the following criteria:
Additional information can be found at: www.michiganbusiness.org/covid19/