Financial assistance and support

FOR: 77 non-entitlement counties in Michigan
DEADLINE: Ongoing

As communities across Michigan face budget uncertainties due to unanticipated costs associated with COVID-19, the Michigan Economic Development Corporation (MEDC) has made available $20 million in federal Community Development Block Grant (CDBG) CARES Act funding to 77 non-entitlement counties to provide economic relief. Funds may be used to reimburse for unbudgeted expenditures by counties to prevent, prepare for, and respond to the Coronavirus.

FOR: Previous MSF Awardees
DEADLINE: Ongoing
The MSF Awardee Relief Initiative program authorizes emergency relief to businesses and community projects that have previously received grants, loans, or other forms of economic assistance from the Michigan Strategic Fund.
FOR: Suppliers of PPE-related equipment
DEADLINE: Ongoing
Does your business have Personal Protective Equipment (PPE) that can support organizations responding to the COVID-19 (Coronavirus) outbreak? Click here to be included in the list of suppliers.
FOR: Early stage tech companies
DEADLINE: Ongoing

The Michigan Strategic Fund has approved modifications to the BAF to provide greater support to business accelerators in Michigan’s Statewide SmartZone network that serve startups and high-tech companies impacted by COVID-19. SmartZone services can be accessed at Houghton/Hancock MTEC, Marquette SmartZone Innovate Marquette and Sault Ste. Marie SmartZone/Sault Ste. Marie EDC

Federal Programs and Resources

Small Business Administration (SBA) Programs

How do I get a quick loan to tide my business over?
Express Bridge Loan Pilot Program

What if I can’t keep up with my current SBA loan?
Small Business Debt Relief Program

How can I receive economic relief for a temporary loss of revenue?
Economic Injury Disaster Loan Program

Internal Revenue Services

FOR: Employers who are closed, partially closed or experiencing significant revenue losses
DEADLINE: Ongoing
Employee Retention Credit, designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19.

Small Business Support

FOR: Small businesses in the Upper Peninsula
DEADLINE: Ongoing

Free marketing and online services to local small businesses