The Michigan Economic Development Corporation announced $69 million in grant awards to small businesses last week. The Michigan Small Business Restart Grant Program provided grants of up to $20,000 to more than 11,300 small businesses and nonprofits.
The grants will provide relief for small businesses that have been negatively impacted by the COVID-19 pandemic. Governor Whitmer said this grant program put federal funding to work for small businesses and will “create a strong foundation for Michigan’s long-term economic recovery.”
The program allocated $100 million of federal CARES Act funding to provide support to Michigan’s small businesses and nonprofits that have experienced a loss of income as a result of the COVID-19 crisis. The funding was distributed across 15 local or nonprofit economic development organizations (EDOs) covering all 83 Michigan counties.
Locally, funds were granted through the Flint & Genesee Chamber EDO, and awards ranged from $5,000 – $20,000. At least 72,950 jobs have been retained for Michigan workers through these initial grant awards.