The Pure Michigan Small Business Relief Initiative to Begin Accepting Applications December 15th, 2020
The Michigan Economic Development Corporation (MEDC) recently announced that $10 million dollars in CARES Act Funding would be made available through the Michigan Community Development Block Grant program to support small businesses negatively impacted by COVID-19.
Through the Pure Michigan Small Business Relief Initiative, eligible small businesses can receive up to $15,000 to cover urgent working capital needs including payroll expenses, rent or mortgage payments and utility expenses.
Businesses will need to submit a Small Business LMI Verification Form which will be provided by the MEDC as part of the application in order to meet the Department of Housing and Urban Development’s national objective as it relates to low to moderate income employees.
Grants will be awarded to eligible businesses on a ‘first-in’ basis and we are encouraging all interested parties to review grant requirements in advance of December 15th, 2020 so that applications can be submitted in a timely manner.
Is Your Business Eligible?
Businesses in the following industries are eligible to apply:
- Restaurants, bars and other food and beverage service providers
- Travel and tourism destinations including lodging providers
- Live event venues and movie theaters
- Conference and meeting facilities
- Ice skating rinks, indoor water parks and bowling centers
- Gyms and fitness centers
Additionally, businesses must meet a variety of set criteria including:
- Being a business in one of the targeted industries listed above
- Must be in compliance with all State and local orders related to COVID-19, including, but not limited to, the Michigan Department of Health and Human Services
- Must meet the Department of Housing and Urban Development’s national objective regarding low to moderate income employees
- Be a for-profit entity (i.e., a sole proprietorship, partnership, corporation, or LLC)
- Have a physical establishment in the Michigan County of Application and is NOT a home-based business
- Provide goods or services to multiple clients or customers
- Be current, or in a payment plan, on all local, state, and federal taxes due through 1/1/2020
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- Have an active and valid state license(s)/registration(s), if applicable
- Is not an adverse party to litigation involving the State or municipality
- Business or Business owner has not filed for bankruptcy in the last 10 years
- Can identify a need for payroll, rent or mortgage payments, and/or utility expenses necessary to continue/restart business operations relative to the total grant amount
- Had annual gross revenues in 2019 greater than $25,000
- Has at least two employees, including the owner(s)
- Has fewer than 50 employees (including full-time, part-time, and owner(s) on a world-wide basis)
For a full list of requirements and additional information on this program, please visit www.michiganbusiness.org/relief.
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