Michigan Businesses See New Relief Measures



Many businesses are struggling after a summer full of mandated closures which were recently renewed ahead of the holiday season amid fears of large family gatherings and super-spreader events. While public safety is undeniably of utmost importance, these new measures are a further detriment to business owners across the mitten. Their continuing plight, however, has not gone unnoticed.

On Dec. 8, the Michigan Strategic Fund launched a new relief program to further assist businesses amid the COVID-19 pandemic. The Pure Michigan Business Relief Initiative utilizes federal funds authorized under the Coronavirus Aid, Relief and Economic Security (CARES) Act to award $10 million in grants to small businesses adversely affected by the pandemic, UP Matters reports. Eligible businesses can apply to receive up to $15,000 in aid, with applications opening today, Dec. 15, on a first come, first serve basis1.

According to the Michigan Economic Development Corporation (MEDC), eligible businesses must operate in one of the following sectors:

“-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.”

Additionally, because the initiative is funded by the CARES Act, businesses will need to meet the Housing and Urban Development (HUD) National Objective for job retention as a requirement to receive funding. The MEDC has selected the Michigan Municipal League Foundation to serve as grant administrator for the initiative which is expected to fund around 650 small businesses. The MEDC published additional requirements, FAQs, instructions, and a video tutorial found here.

The MICPA will continue to follow and report on assistance measures for small businesses as they occur.  Follow the MICPA on Facebook to stay up to date on new developments.

  1. “$10M in Grants Available to Help Small Businesses Across Michigan.” UP Matters. 8 Dec. 2020. Accessed on 14 Dec. 2020.
  2. “Grant Information for Small Businesses.” Michigan Economic Development Corporation. Accessed on 14 Dec. 2020.

Source: MICPA

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