COVID-19 Grant & Loan Resources in Michigan
The COVID-19 crisis has and will continue to cause significant hardship for businesses, communities, and employees in the foreseeable future. The Michigan Economic Development Corporation (MEDC) has highlighted several opportunities and resources to help. These include:
· COVID-19 Michigan Small Business Relief Program: Loans - Provides immediate small business loans to businesses immediately impacted by COVID-19.
· COVID-19 Michigan Small Business Relief Program: Grants - Provides immediate grant support for businesses hardest hit by COVID-19.
· SBA Economic Injury Disaster Loan Assistance - Working capital loans to help organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. These loans are intended to assist through the disaster recovery period.
If you would like more information on these grants, please see the detailed table with funding requirements, eligibility and more below.
In addition to these opportunities, the MEDC is also offering a number of other resources, including:
· Michigan SBDC Resources for Completing the Economic Injury Disaster Loan - Tips, tricks, information, and help on completing the application.
· Michigan SBDC Additional Small Business Resources - Webinars, Q&A, and other valuable information to help small businesses navigate the economic hardships they are facing as a function of the COVID-19 outbreak.
· MEDC COVID-19 Resources - Articles, contact information, resources, forms and more for communities, businesses, employees, and employers.
If you know of anyone who could use these resources, please feel free to share them. The Michigan Economic Development Corporation’s call center can be reached at (888) 522-0103.