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$4.7 million in additional loans made to 71 businesses through MEDC Michigan Small Business Relief Program
MEDC has announced the second round of low-interest loans awarded through the Michigan Small Business Relief Program. MEDC worked with 15 local EDOs to award a total of 145 small businesses $10 million dollars in loans, which provide relief for businesses negatively impacted by the COVID-19 crisis.View complete list of loans awarded
Michigan Small Business Relief Program Grant Awards
Invest UP reviewed grant applications from businesses located in Keweenaw, Houghton, Ontonagon, Gogebic, Baraga, Iron, Marquette, Dickinson, Menominee, Alger, Delta, Schoolcraft, Luce, Mackinac, and Chippewa Counties.
Networks Northwest reviewed grant applications for businesses located in Emmet, Grand Traverse, Charlevoix, Antrim, Kalkaska, Missaukee, Wexford, Manistee, Benzie, and Leelanau counties.
Otsego County Economic Alliance reviewed grant applications for businesses located in Otsego, Crawford, Roscommon, Montmorency, Ogemaw, and Oscoda counties.
View compete list of grant winners (Otsego County Economic Alliance)
Target Alpena reviewed grant applications for businesses located in Iosco, Alcona, Alpena, Presque Isle, and Cheboygan counties.
The Right Place and surrounding counties reviewed applications for Barry, Ionia, Kent, Lake, Mason, Mecosta, Montcalm, Newaygo, Oceana, and Osceola and Muskegon counties.
Lakeshore Advantage reviewed applications for business located in Allegan and Ottawa counties.
Middle Michigan Development Corporation reviewed applications for businesses located in Isabella, Gratiot, Clare, and Gladwin counties.
Sagiaw Future reviewed applications for businesses located in Arenac, Bay, Midland, and Saginaw counties.
Flint & Genesse Chamber reviewed applications for business located in Genesee County. Applications were reviewed at the local level for Shiawassee, Lapeer, Tuscola, Sanilac, Huron and St. Clair counties.
View compete list of grant winners (Flint & Genesee Chamber)
LEAP reviewed applications for business is located in Clinton, Eaton, and Ingham counties
Southwest Michigan First reviewed applications for businesses located in Kalamazoo, St. Joseph, Berrien, Calhoun, Van Buren, Cass, and Branch counties.
View compete list of grant winners (Southwest Michigan First)
Ann Arbor SPARK reviewed applications for Washtenaw and Livingston counties. Applicaitons were reviewed at the local level for Hillsdale, Jackson, Lenawee and Monroe counties.
Oakland County reviewed applications for business located in Oakland county.
Macomb County reviewed application for business located in Macomb County.
Grantee: Detroit Economic Growth Corporation
DEGC reviewed applications for businesses located in the city of Detroit. Wayne County reviewed applications for all other businesses located in Wayne County.
The Michigan Small Business Relief Program grants is administered by 15 local and nonprofit economic development organizations (EDOs) around Michigan, covering all 83 counties in the state. These EDOs were responsible for reviewing applications of small businesses in their region and entering into agreements with eligible small businesses. Grant funds are currently being disbursed by the EDOs. If you have questions regarding your application or grant funds, please contact your local EDO.
In addition to the $10 million in grant funds, the Michigan Strategic Fund also approved $10 million in loans through the Michigan Small Business Relief Program that are being referred to MEDC from the local EDO partners. Loan applications are reviewed by a loan review committee, with the first phase announced on June 11, 2020 and the second phase announced on September 11, 2020. All loans made through the Michigan Small Business Relief Program will be approved through Michigan Strategic Fund delegated authority and announced as they are finalized.
MEDC Moves Swiftly in Response to COVID-19 Outbreak
When the State of Emergency was declared, the Michigan Economic Development Corporation moved swiftly to provide vital economic support to businesses, entrepreneurs, workers and communities throughout all 83 counties of the state, while enabling Michigan’s Arsenal of Innovation to support the frontlines in the fight against COVID-19.Learn More