On July 7th, the State of Michigan allocated $100 million of federal CARES ACT funding to implement the Michigan Small Business Restart Program that will provide grants to Michigan small businesses directly impacted by COVID-19. The Michigan Small Business Restart Program application opened on July 15th and runs through August 5th. Small businesses and nonprofits may apply for grants of up to $20,000, and awardees will be announced no later than September 30th.
The $100 million of CARES Act funding for the Michigan Small Business Restart Program will be distributed to local economic development organizations (EDOs) who will then provide grants to Michigan small businesses and nonprofits with 50 or less employees to help reduce the economic impact of the ongoing pandemic. There are 15 local economic development organizations (EDOs) covering all 83 counties in the state.
Our region’s EDO is Southwest Michigan First who received $7,545,455 and will allocate the funds to small businesses and nonprofits throughout seven counties. Additionally, at least 30 percent of the funds awarded under the program will be provided to women-owned, minority-owned, or veteran-owned eligible businesses.
Who is eligible to apply?
Businesses and nonprofits with 50 employees or less
Is in an industry that can demonstrate it has been negatively impacted by COVID-19
Demonstrates an income loss as a result of the COVID-19 emergency
Needs working capital to support eligible expenses such as payroll, rent, mortgage payments, etc.
Has NOT received a grant under the Michigan Small Business Relief Program (MSBRP) which was approved on March 19th
Businesses who have received support through other COVID-19 relief programs are eligible to apply for Restart grants
The application is available at www.michiganbusiness.org/restart
Additional information on the Restart Grant can be found at the Michigan Economic Development Corporations website www.michiganbusiness.org/about-medc/covid19/restart/