Oakland County Stabilization Fund for Small Business – Resources
Oakland County is offering financial assistance to small businesses that have been affected by COVID-19. Two programs are being offered, which you will need to determine which one is right for your company. You can only apply for one of the following options:
- Small Business Grant (Part of the Michigan Small Business Relief Program)
- Small Business Loan (Part of the Michigan Small Business Relief Program
To be eligible for either the grant or loan, your business must have experienced significant financial hardship as a result of the COVID-19 outbreak or related state executive orders.
Small Business Grant
Eligibility Requirements
- 50 employees or fewer.
- Working capital to support payroll expenses, rent, mortgage, utility, or other similar expenses.
- Able to demonstrate an income loss as a result of the COVID-19 outbreak or related state executive orders.
- You can apply for up to $10,000.
To Apply
- Follow the links below to the Grant Eligibility Form and Application
- If you have any questions, please email stabilizationfundgrant@oakgov.com
Small Business Loan
Eligibility Requirements
- 100 employees or fewer.
- Working capital to support payroll expenses, rent, mortgage, utility, or other similar expenses.
- Able to demonstrate that the company is unable to access credit through alternative sources.
- Able to demonstrate an income loss as a result of the COVID-19 outbreak or related state executive orders.
- Loans to range from $50,000 to $200,000.
To Apply
- Follow the link below to the Loan Eligibility Form and Application
- If you have any questions, please email stabilizationfundloan@oakgov.com
For additional information, please see the Oakland County Stabilization Fund page. If you have any questions regarding questions on the application, or are experiencing difficulty downloading the application or guide, please email us at office@downtownlakeorion.org or call the office at 248.693.9742.