Small business survival has become a question mark for so many entrepreneurs across this country. It’s become a real question whether these businesses will be able to survive the COVID-19 pandemic. Between the pandemic itself, government-imposed safety lockdowns, and shutdowns, at least a 1/3rd of these small businesses have shuttered forever. Many governments, state and local have tried to come up with some way to ensure that small business, and nonprofits will be able to survive this absolute carnage. And now, the state of Michigan has created a small business survival program, aimed at helping those businesses to recover. This is part of a larger COVID recovery plan that also includes vaccine distribution, small business, and school-related resources.
Small Business Survival Grant Program May Help Michigans Business To Recover From The Pandemic
Recently, Governor Gretchen Whitmer has announced Michigan’s overall recovery plan. This plan will be key to ensuring that Michigan’s citizens will be able to sustain themselves, and recover. The pandemic has hit Michigan’s residents very hard resulting in higher unemployment rates, small businesses shuttering, 586K cases of COVID-19, and almost 15,000 deaths.
The small business program will provide 55 million in relief grants for small businesses. Applications opened on January 19th, and all applications received will receive consideration. These grants will be administered by 15 Economic Development Organizations covering all 83 counties in Michigan. The funds were allocated under this program were signed into law by Governor Gretchen Whitmer in December of 2020.
This grant program will provide grants of up to $20,000. These grants will be awarded to businesses that are fully closed as a result of COVID-19. Grants of 15,000 will be made available to small businesses that are partially closed. Businesses are only eligible if they have experienced “significant financial hardship” as a result of the state of Michigans’ gatherings and face mask order. These orders were issued and enforced by the Michigan Department of Health and Human Services in December 2020.
Small Business Grants Are Very Much Needed Right Now
Beyond just this critical grant program, it’s important that small businesses can receive help. There’s obviously the replenished Paycheck Protection Program, as part of the stimulus program. In addition to that GrantWatch is happy to list a Small Business Grant category on our website, updated regularly. There are currently almost 900 small business grants listed on GrantWatch, and we work hard to constantly update that list.
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