As part of a relief bill that features $58 million for small business support, Detroit small businesses now have the opportunity to apply for grant funding through the Michigan Small Business Survival Grant Program. With the application period open from today until Noon EST on Friday, Jan 22, monies will be awarded to businesses impacted by the ongoing COVID-19 Pandemic.
A small business forced to fully close will find themselves eligible for a grant of up to $20,000, while small partially closed small businesses will find themselves eligible for up to $15,000 in grants. The grants offered through the grant program may then be used to cover the cost of payroll expenses, rent/mortgage payments, utility expenses or any other costs related to reopening the business.
To take part, businesses must first make an account through Connect Space before submitting their application. Accounts can be created at https://pmbc.connect.space by selecting “sign up now” and any small business wishing to take part in the program must have an account to be considered for a survival grant.
On top of having an account, the following parameters have been established for any business to qualify:
- Had 1 to 100 employees (including full-time, part-time and owner/employees) on a world-wide basis on November 17, 2020.
- Is in an industry that demonstrates it is affected by the DHHS epidemic orders.
- Needs working capital to support payroll expenses, rent, mortgage payments, utility expenses, or other similar expenses.
- Can demonstrate an income loss as a result of the Order as determined by the EDO in which an eligible business is located.
- Is not a live music and entertainment venue that is eligible for the Michigan Stage Survival grant program.
It should be noted that this Survival Grant Program does not apply to live music venues and that a different grant program is available to such businesses. Approved by the Michigan Strategic Fund and signed into law on December 29, the Michigan Stages Survival Grant Program awards up to $40,000 for struggling venues.
The application period for this grant program opens on Thursday, January 21 and will run through Noon on Thursday, January 28.
Eligible Michigan small businesses may begin applying for Michigan Small Business Survival grants Jan. 19 at 9 a.m.
Resources are now available – including a video tutorial on how to apply – to help businesses prepare.
Learn more: https://t.co/AuubDeACSM | #MichiganBusiness
— MI Econ Dev Corp. (@MEDC) January 15, 2021
To apply or learn more about the grant program, visit michiganbusiness.org/survival/ or degc.org. Be sure to subscribe to our newsletter for the latest on all things Detroit and more.