The Michigan Strategic Fund today approved the $55 million Michigan Small Business Survival Grant program to meet the urgent need of Michigan small businesses that have experienced a significant financial hardship due to the recent COVID-19 emergency “gatherings and face mask orders.” The program was part of Senate Bill 748 signed into law by Governor Whitmer on Dec. 29, 2020.
The application period for the grant will open at 9 a.m. EST on Tuesday, Jan. 19 and run through Noon EST on Friday, Jan. 22. Grants of up to $20,000 will be awarded to businesses that are fully closed, with grants of up to $15,000 awarded to businesses that have been partially closed, or otherwise are open and can demonstrate an impact. All applications received during this period will be reviewed by the 15 economic development organizations, representing all 83 counties, that will serve as the administrators of these grants; funding is not first come, first serve.
Details on program guidelines, eligibility requirements and resources to help businesses prepare for the application process ahead of time are available at www.michiganbusiness.org/survival.