Michigan announces $52.5M in grants for thousands of small businesses
Small business closing sign due to Covid-19 coronavirus.
SOUTHFIELD, Mich. (FOX 2) - Michigan Governor Gretchen Whitmer announced on Wednesday that nearly 6,000 small businesses in the state affected by coronavirus and closures will be awarded more than $52 million through the state's Small Business Survival Grant program.
Whitmer's office sent out a press release shortly before her noon update on the state's efforts to slow the spread of COVID-19 and increase the number of vaccines being administered.
The program releases $52.5 million for almost 6,000 small businesses which will retain 52,500 jobs in the state.
"The Michigan Small Business Survival Grant Program provides crucial support to Michigan’s small businesses hit hard by the COVID-19 pandemic," said Governor Gretchen Whitmer. "These grants, combined with additional business relief efforts offered by the MEDC, will create a strong foundation for Michigan’s long-term economic recovery. As we distribute the safe and effective vaccine and work to end the pandemic once and for all, I will continue partnering with leaders across the state and urging passage of the MI COVID Recovery plan to provide relief for our small businesses, protect public health and jumpstart our economy."
The state's strategic fund approved the program in mid-January and allocated $55 million to "meet the urgent need of businesses that experienced a significant financial hardship due to COVID-19 emergency".
The program allowed for grants of up to $20,000 to be awarded to businesses that are fully closed, with grants of up to $15,000 awarded to businesses that have been partially closed, or otherwise are open and can demonstrate an impact.
The grants are being administered by 15 local or nonprofit economic development organizations (EDOs) covering all 83 counties across the state.