415 Upper Peninsula businesses awarded grants
MARQUETTE — As part of the Michigan Small Business Survival Grant Program, nearly $2.5 million has been awarded to 415 businesses across the Upper Peninsula. Businesses located in each of the 15 U.P. counties received awards, as a response to the continuing economic impact of the COVID-19 pandemic.
Approved by the Michigan Strategic Fund on Jan. 14, the Michigan Small Business Survival Grant Program allocated $55 million throughout the State, with almost $2.5 million of that allocated to the Upper Peninsula, to address the profound financial hardship that small businesses experienced due to State’s November COVID-19 emergency “gatherings and face mask orders.” The State of Michigan appropriated the funds through SB 748, which received bi-partisan support from Upper Michigan legislators and was signed into law by Governor Gretchen Whitmer in mid-December of 2020.
“The Michigan Small Business Survival Grant Program provides crucial support to Michigan’s small businesses hit hard by the COVID19 pandemic,” said Governor Gretchen Whitmer. “These grants, combined with additional COVID-19 business relief efforts offered by the MEDC, are helping to create a strong foundation for Michigan’s long-term economic recovery. As we work to distribute the safe and effective vaccine and end the pandemic once and for all, I will continue to partner with leaders across the state to provide relief for our small businesses and their employees.”
Grant eligibility was contingent upon a business or non-profit being physically located in the U.P. and demonstrating that the business or non-profit:
Is part of an industry or non-profit that can show it has been impacted by the COVID-19 emergency
Needs working capital to support payroll expenses, rent, mortgage payments, utility expenses or other similar expenses
Demonstrates an income loss as result of the COVID-19 emergency as determined by the Michigan Strategic Fund (MSF)
This funding was directed to the Michigan Strategic Fund (MSF) and administered by the Michigan Economic Development Corporation/