Economic Injury Disaster Loans
The Coronavirus Aid, Relief, and Economic Security (CARES) Act expands the Small Business Administration’s long-standing Economic Injury Disaster Loan Program (EIDL). The EIDL program was created to assist businesses, renters, and homeowners located in regions affected by declared disasters. Those that may qualify are:
- Businesses with fewer than 500 employees
- Cooperatives, ESOPs, and Tribal Small Businesses with fewer than 500 employees
- Sole Proprietors
- Independent Contractors
- Most Private Nonprofits
Paycheck Protection Program
The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program (PPP), the initiative provides 100% federally guaranteed loans to small businesses.
Importantly, these loans may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls afterward.
today, small businesses
and sole proprietorships can apply. Starting April 10, 2020, independent contractors and self-employed individuals can apply.
The Treasury Department encourages you to apply as quickly as you can because there is a funding cap for the program.
Here are two links a
Employee Relief Tax Credit Program
The Coronavirus Aid, Relief, and Economic Security (CARES) Act created a new employee retention tax credit for employers who are closed, partially closed, or experiencing significant revenue losses as a result of COVID-19. Here is a link to the
Emergency Access & Retooling Grants
Do you have the capability to produce critical health & human service supplies, but need assistance in scaling or purchasing equipment? Pure Michigan Business Connect is providing grant assistance to help companies or non-profits begin or ramp up production of critical supplies across a broad range of product categories.
Community Response Fund for Manistee County
A Community Response Fund has been established by the Manistee County Community Foundation in partnership with
United Way of Manistee County
and the Manistee County Human Services Collaborative Body.The collaborative partners encourage area organizations on the front lines of serving those most impacted by COVID-19 to apply for a grant from the CRF by clicking the APPLY button below. Applications are being accepted immediately, on a rolling basis, and will remain open as long as is deemed appropriate.