Michigan Small Business Restart Program Accepting Grant Applications Starting July 15
July, 2020 - Thomas Vaughn, Emphani Aldridge
The State of Michigan has allocated $100 million of CARES Act funding to implement the Michigan Small Business Restart Program to provide grants to Michigan businesses directly impacted by COVID-19. The grants, up to $20,000 each, will be administered by 15 Economic Development Organizations (EDOs) covering all 83 counties in the state. Participating EDOs are listed below. Additionally, at least 30 percent of the funds awarded under the Restart Program must be provided to women-owned, minority-owned or veteran-owned eligible businesses. Funds can be used as working capital to support payroll expenses, rent, mortgage payments, utility expenses or other similar expenses.
The Michigan Small Business Restart Program application will be live starting on Wednesday, July 15, through Wednesday, August 5.
To qualify, businesses (for-profit and nonprofit) must meet the following criteria:
- Have 50 or fewer employees, worldwide
- Have not received a grant under the Michigan Small Business Relief Program
- Be part of an industry or nonprofit that can demonstrate it has been impacted by the COVID-19 emergency
- Needs working capital to support payroll expenses, rent, mortgage payments, utility expenses or other similar expenses
- Demonstrated an income loss as result of the COVID-19 emergency as determined by the Michigan Strategic Fund (MSF)
Partnering Local Economic Development Organizations
- Invest UP
- Networks Northwest
- Otsego County Economic Alliance
- Target Alpena
- The Right Place
- Lakeshore Advantage
- Middle Michigan Development Corporation
- Saginaw Future
- Flint & Genesee Chamber
- Lansing Economic Area Partnership
- Southwest Michigan First
- Ann Arbor Spark
- Oakland County
- Macomb County
- Detroit Economic Growth Corporation
To apply or learn more about the Restart Program, visit michiganbusiness.org/restart.
Please contact Tom Vaughn (313-568-6524), Emphani Aldridge (313-568-6606), or your regular Dykema attorney with any questions.