Grants available for U.P. businesses
MARQUETTE — A new round of grant funding is being made available by the Michigan Economic Development Corporation (MEDC) through the recently signed Michigan COVID Relief Plan. The bill includes $55 million to help small businesses impacted by COVID-19. The funds, appropriated by the legislature through SB 748 and authorized by the Michigan Strategic Fund, will be administered by 15 local and nonprofit economic development organizations across the State. $2.5 million has been allocated to the Upper Peninsula to be administered by InvestUP, a regional economic development organization representing all of the Upper Peninsula.
InvestUP CEO Marty Fittante, expressed his gratitude to those that made this funding available. “We are so grateful to our federal and state legislators, the Governor and our partners at the Michigan Strategic Fund and the MEDC for making this funding available to Upper Peninsula businesses. With the continued impacts of the COVID-19 pandemic on the business community across the U.P. this funding is as appreciated as it will be impactful.”
To qualify for grant support, Michigan-based organizations must meet the following criteria:
– Has 100 or fewer employees (including full time, part time, and owner(s) on a worldwide basis) at the time of application.
– Is in an industry affected by the “Gatherings and Face Mask Order” or “Order” issued by the Michigan Department of Health and Human Services on December 7, 2020 taking effect on December 9, 2020 at 12:01 a.m. through December 20, 2020 at 11:59 p.m. and the order taking effect on November 18, 2020 entitled gatherings and face mask order that it rescinded and replaced.
– Has a need for working capital to support payroll expenses, rent, mortgage payments, utility expenses, or other similar expenses.
– Demonstrates an income loss as a result of the Gatherings and Face Mask Order as determined by the local and nonprofit economic development organization representing the County in which an eligible business is located.
– Is not a live music and entertainment venue that is eligible for the Michigan Stages Survival Grant funds under SB748 Section 401.
The Michigan Small Business Survival Grant Program application will be live starting at 8:00 am et Tuesday, January 19 and run through noon et on Friday, January 22.
With the application window set by the Strategic Fund so narrow, Fittante urged businesses to be patient, but persistent, saying: “we understand with the significant need the rightful intent is to get this money into the hands of small businesses, quickly. And we will work with our local partners to do just that. Unfortunately, while we expect to notify recipients of their selection in early February, and while grateful for this assistance, we realize that this funding will again fall far short of adequately addressing the profound need that exists across the Upper Peninsula.”
Businesses can apply online at: https://www.michiganbusiness.org/survival/
Businesses will need a Connect Space account and can sign up prior to the application opening date at: https://www.connect.space/accounts/sign_up
Additional information outlining the guidelines and FAQs can be found at www.update906.com.