(LANSING) – Small businesses in Michigan can now apply for financial assistance if they have been impacted by COVID-19.
The Michigan Economic Development Corporation has set up the Michigan Small Business Relief Program. It will provide up to $20 million in grants and loans to provide economic assistance to small businesses around the state. It will help support workers and their families facing economic uncertainty during this time.
The Program will make $800,000 available for businesses in St. Joseph, Branch, Cass, Kalamazoo, Berrien, Calhoun and Van Buren Counties. The funds will be administered by Southwest Michigan First. The grants and loans could be up to $10,000 per business and would be used to support businesses facing drastic reductions in cash flow and the continued support of their workforce. It may also be used for working capital to support payroll expenses, rent, mortgage payments, utility expenses or other similar expenses.
Eligible businesses must employ 50 people or less. For more information, or to apply, you can go online. LINKA.
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