The U.S. Small Business Administration’s Paycheck Protection Program (PPP) provided billions of dollars in forgivable loans to the nation’s small businesses. Now, many small businesses that have received assistance through the program are finding the rules and regulations required for loan forgiveness challenging to navigate.
Metro Community Development, Inc. received approval on a $2 million loan through MEDC’s Capital Access program to make micro and small business loans ranging from $5,000 to $250,000 to Michigan’s small businesses in the 13 counties it serves, with an emphasis on businesses located in economically disadvantaged areas.
Michigan’s Work Share program allows employers to restart their business and bring employees back from unemployment. Employers can bring employees back with reduced hours - while employees collect partial unemployment benefits to make up a portion of the lost wages.
Webinars for employers to learn more about the Work Share program:
The Detroit Regional Chamber on May 20 released the findings from a new statewide poll of registered voters in Michigan that provides insight and data on how Michiganders have reacted to the state’s dual public health and economic crises. The poll’s findings demonstrate both key consistencies and mood shifts compared to the Chamber’s previous poll conducted April 15 through 16, 2020.
The Michigan departments of Agriculture and Rural Development and Labor and Economic Opportunity are leading efforts to help fill critical food and agriculture jobs that are emerging due, in large part, to the COVID-19 pandemic. Part of the collaborative effort includes raising awareness of existing resources and services available to food and agriculture businesses, as well as promoting opportunities for job seekers.
Governor Gretchen Whitmer signed Executive Order 2020-92, allowing for the reopening, in two regions, of retail businesses, office work that cannot be done remotely, and restaurants and bars with limited seating. The two regions are both in the northern part of the state—specifically, MERC regions 6 and 8, as detailed in the governor’s MI Safe Start Plan to re-engage Michigan’s economy.
Governor Gretchen Whitmer signed executive order 2020-91 to ensure robust protections for Michigan workers as she continues to re-engage parts of the economy. This executive order requires all businesses to adhere to strict safety guidelines to protect their workers, their patrons, and their communities from infection.
The COVID-19 pandemic has led to a sharp deceleration in global demand, disrupted day-to-day work and social interactions, and generated rapid unemployment. Building on Deloitte’s prior studies of recession playbooks, this session shares six imperatives for how Chief Financial Officers can help their companies navigate disruption.
Information for Members on COVID – 19
For the latest news, webinars and updates of importance to our members , visit the
Chamber's Coronavirus toolkit.
To stay informed on the latest actions taken by the state, visit the
State of Michigan'sCoronavirus resource page.