January 14, 2021
At noon today, the Michigan Strategic Fund Board held a special meeting to approve the $55 million Michigan Small Business Survival Program, which is intended to provide grant funding to businesses that have been impacted by the recent MDHHS epidemic orders.
The Michigan Small Business Survival Program will provide funding to 15 local economic development organizations (EDOs) who will then administer grants to eligible small businesses that have experienced a significant financial hardship due to the recent COVID-19 emergency epidemic orders. Applications will open for the program at 9 a.m. EST on January 19 on michiganbusiness.org/survival and will close at Noon on January 22.
Businesses that have been fully closed since November 18, 2020, may be eligible for up to $20,000 in grants, while those businesses that have been partially closed – or are otherwise open – may apply for grants up to $15,000. Funding through this program can be used to support working capital needs, such as payroll expenses, rent, mortgage payments, utility expenses, and other similar expenses.
The 15 partnering EDOs will ensure this program provides funding throughout all 83 counties in Michigan. You can go to michiganbusiness.org/survival to see a list of the 15 local EDOs and the counties they will cover through the program. This is also where businesses can begin accessing the application questions, find information on how to register in ConnectSpace prior to the application process, watch a video explaining how to navigate the application process, and learn more about the eligibility criteria. The application itself will open beginning at 9 a.m. on January 19.
The application period for these grants will close at Noon on January 22, after which time the local EDOs will complete the application review process and make grant awards. Please note, all applications received during the application period will be reviewed and considered; grants are not being awarded on a first-come, first-serve basis. If you know of small businesses in your networks or organizations that may qualify for this support, we encourage you to pass this information along.
The Board also approved the $3.5 million Michigan Stages Survival Program, which will support the state’s live music and entertainment venues that have been negatively impacted by the ongoing COVID-19 pandemic. Applications will open for the program at 9:00 a.m. EST on Thursday, January 21 on michiganbusiness.org/stages, and will close on January 28 at 12:00 p.m. (noon) EST.
Applications will be submitted to and processed by, the Michigan Independent Venue and Promoter Association (MIVPA) who will recommend grant awards to the MEDC for disbursement by February 28, 2021. To access the program guidelines, FAQ, and other resources, go to michiganbusiness.org/stages.
As we all witnessed in December – and throughout the year – there is a continued overwhelming need for relief from the economic impacts of COVID-19 on small businesses across the state. We are proud to have moved quickly to begin getting these dollars into the hands of small businesses throughout Michigan, marking our 22nd and 23rd COVID-19 relief programs that MEDC has developed, implemented, and administered since last March. Today’s programs further build on the $180 million we have already deployed to support more than 18,500 small businesses over the past ten months.
As this pandemic continues, we remain committed to leading a strong economic recovery in Michigan to ensure our state’s 10 million residents and its businesses receive the support and relief they need to not only survive but grow long after this pandemic is over.
For questions about this program, call us at 517-265-5141.