Financial assistance and support

FOR: Diverse entrepreneurs and small businesses from underrepresented groups in Michigan

This fund is intended to assist geographically and demographically disadvantaged individuals through two primary avenues of funding in the form of grants from $1,000 – $5,000 to assist with reopening or pivoting a business or microloans from $5,000 – $10,000 loans with a 1-3 year repayment period.

FOR: Previous MSF Awardees
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
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: Start-ups

The $3 million Pre-Seed Fund III will be deployed across the state of Michigan to better support entrepreneurs and technology startups and provide capital support, coaching, assistance with grant funding, and more. Companies should be working in technology sectors as defined in Section 125.2088a of the MSF Act.

FOR: Early stage tech companies

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

Internal Revenue Services

FOR: Employers who are closed, partially closed or experiencing significant revenue losses
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

Free marketing and online services to local small businesses