Greater than 14,000 small companies in Michigan impacted by the COVID-19 pandemic have obtained grants of as much as $20,000 for bills comparable to payroll, hire and utilities, Gov. Gretchen Whitmer introduced Tuesday.
Total, the reduction totals practically $96 million from cash made accessible by the Coronavirus Help, Reduction and Financial Safety, or CARES, Act. The cash was despatched to Michigan after which distributed to 15 native or nonprofit financial growth organizations masking all 83 counties within the state.
“Households throughout the state depend upon small companies for his or her livelihood, and these grants, mixed with extra COVID-19 enterprise reduction efforts” supplied by the Michigan Financial Improvement Company “have helped to create a powerful basis for Michigan’s long-term financial restoration,” Whitmer mentioned in a information launch.
Earlier on within the pandemic, counties rushed to arrange the programs to distribute the funds, apprehensive that in the event that they did not get cash within the arms of native companies shortly, many would not keep open.
Whereas there isn’t any official rely of what number of companies within the state have closed, practically 800 small companies with a presence on Yelp’s web site and cell app completely closed their doorways in metro Detroit for the reason that begin of the pandemic by mid-July, the newest information accessible.
The various small companies which have remained open say they’re struggling, as a result of slower demand and the added prices of shopping for security tools.
Of the 14,000 grants, 4,617 went to companies that reported they have been minority-owned, 6,314 reported as woman-owned, and 743 reported as veteran-owned, with some companies deciding on a number of classes.
At the very least 30% of the funds have been required to go to women-owned, minority-owned or veteran-owned companies as part of the Michigan Small Enterprise Restart Program.
In Detroit, well-known companies comparable to Checker Bar, the clothes retailer Detroit is the New Black and the health studio Stay Cycle Delight obtained grants.
Whitmer, within the information launch, known as for extra monetary assist.
“We nonetheless want the president and U.S. Senate Majority Chief Mitch McConnell to work throughout the aisle on a bipartisan restoration bundle that can present assist for our households, frontline employees and small companies,” she mentioned.
A full checklist of the companies that obtained the grants will be discovered at www.michiganbusiness.org/about-medc/covid19/restart/.
Extra assets for Michigan companies are listed at www.michiganbusiness.org/covid19/.
Contact Adrienne Roberts: email@example.com.