MICHIGAN, USA — Michigan businesses that have been impacted by the unusually warm winter and low snowfall totals can now apply for federal funding, which is available for 42 counties.
The eligible counties are in the northern Lower Peninsula and Upper Peninsula. If a business lost money due to the lack of snow, they could receive funding under the Small Business Administration's (SBA) disaster designations for drought.
Drought applies to both lack of rain and snow.
SBA Economic Injury Disaster Loans are up to $2 million to help businesses recover after a disaster. Businesses will not pay interest on the loan for the first year, and will receive a maximum interest rate of 4% for the remainder of the loan period.
With Michigan seeing drastically below-average snowfall totals, many businesses like ski resorts, sporting goods stores and hotels have suffered losses.
"Michiganders are used to tough winters, but this year’s record-setting warm winter has been tough in a different way, causing economic hardships for small businesses and regional economies that rely on snow,” said Gov. Whitmer. “I know how hard this winter has been on families and communities who rely on winter tourism revenue and all the associated business that comes with it—hotels, restaurants, and shops."
State officials say this comes as Michigan broke several records, including hitting a new high temperature for the month of February and many areas seeing significantly less snow than usual.
“The many great businesses that depend on a winter wonderland need this chance to access relief funds,” said state Senator Ed McBroom (R-Vulcan). “Winter will be back next year, and we want these shops to be open and ready to serve the visitors who come to the UP.”
Each county has a deadline for businesses to apply for the relief. While most deadlines are in August or September, some are as soon as May. To learn more and see a full list of eligible counties, click here.
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