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Grant Program to Provide $3,500,000 to NE MI. Small Businesses

Submitted by on July 15, 2020 – 12:00 amNo Comment
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The Michigan Strategic Fund approved a $100 million program that will provide grants to small businesses around Michigan working to recover from the ongoing impacts of the COVID-19 virus.

The State of Michigan has appropriated $100 million of federal CARES Act funding through SB 690, signed into law by Governor Whitmer last week, to implement the Michigan Small Business Restart Program to support Michigan’s small businesses that are reopening and have experienced a loss of income as a result of the COVID-19 crisis.

The Michigan Strategic Fund authorized distribution of the funding across 15 local or nonprofit economic development organizations including Target Alpena in the amount of $3,500,000.

The Michigan Small Business Restart Program application will be live starting today, July 15 at michiganbusiness.org/restart and run through Wednesday, August 5. Funds can be used as working capital to support payroll expenses, rent, mortgage payments, utility expenses or other similar expenses.

You can also accesss the application via the alpena chamber of commerce website.