Mich. (WJMN) – To help small businesses across the State of Michigan, the Michigan Strategic Fund authorized a relief program to further support businesses during the COVID-19 crisis.
The Pure Michigan Small Business Relief Initiative will utilize 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.
Grant funds will assist eligible businesses meet urgent working capital needs including payroll expenses, rent or mortgage payments and utility expenses in the following industries:
Restaurants, bars and other food and beverage service providers
Travel and tourism destinations including lodging providers and hospitality businesses
Live event venues and movie theaters
Conference and meeting facilities
Ice skating rinks, indoor water parks and bowling centers
Gyms, fitness centers and indoor recreation facilities
Grants will be first come first served.
InvestUP CEO Marty Fittante, expressed his gratitude to the Michigan Strategic Fund for making this funding available but stressed that the funding was limited and available on a first come first serve basis.
“With the continued impacts of COVID-19 pandemic on the business community across the U.P. this funding is as appreciated as it is helpful. But it is critical that eligible businesses in the U.P. understand that this funding is first-come, first-serve, and will not come near satisfying the need that will exist. So, U.P. businesses need to be prepared, be persistent, and act immediately.”
Applications will be open beginning at 9 A.M. EST on December 15, 2020.
Eligible businesses may apply to receive up to $15,000.
For full details on this grant initiative, including eligibility requirements visit: https://www.michiganbusiness.org/about-medc/covid19/relief/