Pure Michigan Small Business Relief Initiative to Provide $10 Million in Grants for COVID-19 Recovery Efforts
First Come-First Served Grant Application Process Opens December 15
The Michigan Strategic Fund has approved a $10 million grant program to help meet the needs of small businesses disproportionately impacted by the COVID-19 virus. The Pure Michigan Small Business Relief Initiative will utilize federal CARES Act funding to award grants of up to $15,000 to more than 650 small businesses across Michigan.
Eligible businesses are limited to the following:
- Restaurants, bars and other food and beverage service providers
- Travel and tourism destinations including lodging providers
- Live event venues and movie theaters
- Conference and meeting facilities
- Ice skating rinks, indoor water parks and bowling centers
- Gyms and fitness centers
Each business can qualify for up to $15,000 in funding if they meet the eligibility criteria, which includes but is not limited to:
- Having fewer than 50 employees
- Complying with all State and local COVID-19 orders
- Identifying a need for payroll, rent or mortgage payments and/or utility expenses
Grant Purpose:
The grants under the program will support those businesses facing drastic reductions in cash flow and the continued support of their workforce and may be used for working capital to support payroll expenses, rent, mortgage payments, or utility expenses.
GRANT APPLICATION PERIOD OPENS DECEMBER 15 ON FIRST COME - FIRST SERVED BASIS.
