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MMDC Update: New Grants Made Available for Michigan Small Businesses Impacted by COVID-19

MMDC logoA message from Middle Michigan Development Corporation’s Jim McBryde

Grant Funding through Match on Main COVID-19 Response Program

 

The Match on Main – COVID-19 Response Program temporarily expands the MEDC’s Match on Main Program and will provide up to $50,000 to local downtown management organizations to administer to eligible small businesses located in traditional commercial districts, including downtowns, neighborhood and commercial districts, or areas planned and zoned for concentrated commercial development. 

This program serves as a tool for local units of government, Downtown Development Authorities, or other downtown management organizations that desire to support place-based businesses located in their traditional commercial districts by providing grant funding to eligible businesses in response to the COVID-19 crisis.

The local unit of government, Downtown Development Authority, Main Street organization, or other economic development organization that represents the downtown will serve as the grant applicant and may apply for up to $50,000. The minimum contribution that is able to be administered to any one business must be at least $2,000, with a maximum of $10,000. The applicant will determine which businesses are selected for inclusion in the application for support and at what desired grant amounts. 

All applications from local units of government, Downtown Development Authorities and other economic development organizations in our region are due by 5 p.m. on Wednesday, May 29.  

Only one organization can submit an application on behalf of a community. If your organization is planning to submit an application on behalf of a community in Clare or Isabella county, please let us know if we can assist you. MMDC has been asked to submit an application on behalf of the City of Mt. Pleasant’s Central Business District. However, we are available to assist other organizations and municipalities as they walk through the application process.

Businesses located in the Mt. Pleasant Central Business District can apply for grant funding through MMDC by completing a business application and emailing it to info@mmdc.org no later than Friday, May 22, 2020. 

LEARN MORE AND APPLY
Receive Quick Access to Capital through MI Local Biz Program 
In response to the COVID-19 crisis, The Michigan Economic Development Corporation, in conjunction with the Detroit-based crowdfunding platform, Patronicity, has developed “MI Local Biz”, a creative funding mechanism to offer quick access to capital for small local businesses. The MEDC will match crowdfunding raises on a 1:1 basis up to $5,000 for eligible small businesses experiencing economic challenges as a result of COVID-19.

MI Local Biz will utilize donation-based crowdfunding to generate public interest, raise funds to assist small businesses, and help prepare for the re-opening phase to those businesses negatively impacted by COVID-19. 

Applications will be accepted through the Patronicity platform starting May 18, 2020 at 8 a.m. With limited funding available, businesses will be evaluated on a first come, first served basis.

LEARN MORE AND APPLY
MEDC and Reopen Main Street Provide Easy Access to Recovery Resources
Due to COVID-19, Michigan businesses have faced many challenges while trying to operate during this crisis. As a way to support and ease these struggles, MEDC has partnered with Reopen Main Street to compile a variety of resources into one, easy-to-use website. The new website will include reopening strategies, ideas, hints and tips for businesses, business districts and organizations. 
READ MORE
Additional Resources for your Business 
Discover more resources for Michigan businesses experiencing economic challenges. MMDC has been working diligently to keep an up-to-date blog that includes programs, tools, and news updates related to COVID-19. 
DISCOVER MORE

Please stay safe!

IMG_3650 (2)-1Jim 

James McBryde, President and CEO
Middle Michigan Development Corporation
200 East Broadway, Mount Pleasant MI 48858

Office: (989) 772-2858 / Mobile: (989) 824-0645

Email: jmcbryde@mmdc.org

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