$55 Million In Small Business Grants Become Available Jan 19th
The Michigan Strategic Fund has just approved a huge grant that's aimed at helping struggling small businesses here in Michigan.
The application process starts tomorrow and if it's anything like what we've had to deal with in the past, then the process should be full of headaches. But, I stop complaining as long as the money comes through.
Now they say that there's a total of $58.5 million dollars that's ready to go out and help small businesses. There are some prerequisites you should know about though.
Businesses must meet the following eligibility requirements:
Had 1 to 100 employees (including full-time, part-time and owner/employees) on a worldwide basis on November 17, 2020.
Is in an industry that demonstrates it is affected by the DHHS epidemic orders.
Needs working capital to support payroll expenses, rent, mortgage payments, utility expenses, or other similar expenses.
Can demonstrate an income loss as a result of the Order as determined by the EDO in which an eligible business is located.
Is not a live music and entertainment venue that is eligible for the Michigan Stage Survival grant program. Source:NBC25.com
I pray that these grants are enough to keep our small businesses afloat until we can get this pandemic behind us. So many small businesses have shut their doors for good since the beginning of the pandemic it's kinda hard to imagine what life will look like afterward.
The governor also made a statement in regards to the new grant money.
“From the beginning, my administration has been deeply committed to providing some crucial support to Michigan’s small businesses that have been hit hard by the COVID-19 pandemic,” said Governor Gretchen Whitmer
Time will tell if this will be enough, or if it's a case of too little, too late...