The Michigan Economic Development Corporation (MEDC) has introduced the Pure Michigan Relief Fund that utilizes federal CARES Act funding to provide $10 million in grants to meet the urgent need of Michigan small businesses disproportionately impacted by the COVID-19 virus.
Grants will be awarded up to $15,000 and the business will identify their total grant request within the application. Grants may only be used for the following eligible expenses: payroll expenses, rent/ mortgage payments, and utility expenses. Grant funds may be used by the business for eligible expenses expended between November 18, 2020 and April 30, 2021. Grant funds may not be used for any eligible expenses that were previously funded or will be funded by another state or federal grant program, including but not limited to, the Michigan Small Business Relief Program or the Michigan Small Business Restart Program.
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The application process opens up at 9:00am EST on Tuesday, December 15, 2020. It is SBAM’s belief that these funds will go very quickly, in a matter of minutes. If your business qualifies, be prepared to apply! |
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To be eligible to receive grant funding, businesses must be in one of the industries listed below:
*SBAM note: Franchises are not eligible for funding. This was a policy decision by the MEDC. |
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Additionally, because this Initiative is funded through federal CARES Act dollars distributed by the US Department of Housing and Urban Development (HUD) to the Michigan Community Development Block Grant program, businesses must satisfy the HUD National Objective for job retention in order to receive funding. The business must document that at least 51% of positions will be held by low to moderate income persons or in the case of microenterprises (five or fewer employees) that the business owner is a low to moderate income individual. |
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