GRAND RAPIDS, Mich. — The Michigan Economic Development Corporation is bringing some relief to small businesses across the state as we deal with the economic impact of the coronavirus pandemic.
One million dollars in relief is expected to arrive no later than April 12 as part of the Michigan Small Business Relief Program. The grants can be used to support payroll expenses, rent, mortgage payments, utility expenses or other expenses that businesses deal with.
The Right Place will consider grants for companies in Barry, Ionia, Kent, Lake, Mason, Mecosta, Montcalm, Muskegon, Newaygo, Oceana, and Osceola counties.
"There are some requirements for the grant. Businesses have to be less than 50 employees. They have to fit into certain categories of businesses that were directly impacted by the governor's executive orders," said Tim Mroz, who serves as the Senior Vice President of Strategic Initiatives.
"Things like restaurants, bars, breweries, local retailers that had to close their doors to comply with the executive orders. We obviously want businesses that are already profitable. We're looking to sustain companies that have show success in the past. We want them to continue succeeding in the future."
Applications will be accepted through The Right Place's website, but businesses are urged to act fast and fill out the application completely, because of the sheer volume of applications that are expected. In just the first three hours after The Right Place announced the news, they had received about 80 applications.
"The grant window is going to be open for a least the next several days. We will continue to receive grant applications until we just cant manage it anymore. There's only so much we can review in a brief amount of time."
"It is not a first come, first served process. Each application that is submitted and received will be analyzed and will be reviewed."
Companies can also apply for low interest loans through the state.
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