$100 million in federal funding was approved yesterday for the Michigan Small Business Restart Program, which will provide grants to businesses with 50 or fewer employees working to recover from the COVID-19 crisis. Grants of up to $20,000 will be distributed through 15 local economic development organizations to small businesses, with an application period running from 7/15/20 through 8/5/20.
A small business may qualify for the Michigan Small Business Restart Program if they have not received a grant from the Michigan Small Business Relief Program and if they:
- Demonstrate that the company was affected by the COVID-19 emergency
- Show a loss of income as a result of COVID-19
- Need working capital to support eligible expenses
Funding is available on a first-come, first-served basis and the Michigan Economic Development Corporation (MEDC) projects more than 5,000 companies will benefit from the program. At least 30 percent of the funds awarded must be provided to women-owned, minority-owned or veteran-owned eligible businesses. More information about this grant program is available at michiganbusiness.org/restart.
An additional $15 million in federal funding was also approved today to help Michigan’s agricultural sector and food processors to mitigate the risks of COVID-19 virus in the state’s food production industry. Processors and farms can apply through GreenStone Farm Credit Services starting 7/15/20 for grants of up to $1,000 per employee for virus mitigation costs, including testing, personal protective equipment (PPE), facility needs, increased sanitation costs and employee training. Grant criteria, eligible expenditures and more can be found at michiganbusiness.org/agsafety.
Contact MMA’s Mike Johnston, at 517-487-8554 or johnston@mimfg.org, regarding these grant programs and other efforts to support Michigan manufacturers as they work to recover from the ongoing impacts of the COVID-19 pandemic.
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As manufacturers work towards re-opening with full-scale operations, being safe and following preventative procedures is crucial for both the wellbeing of employees and communities, and for achieving compliance with state requirements and guidelines. The more you can simplify, standardize, and speed up those processes, the more vigilant, compliant, and safe you'll be.
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