State launches $15K grants for small businesses
The COVID-19 pandemic has been hard for most people, but it’s been extra hard on small businesses, especially after the state issued temporary orders that shut down many bars and restaurants for three weeks.
On Monday, state leaders announced a $10 million program meant to help alleviate some of that difficulty. It will provide grants of up to $15,000 for small businesses that have struggled over the past few months.
What it is: The Pure Michigan Small Business Relief Initiative is a newly formed program of the Michigan Strategic Fund. The program aims to help 700 hospitality and recreation businesses, chiefly those affected by the latest round of shutdown orders.
Small businesses are defined as those with two to 50 employees and with revenues of at least $25,000 per year. The money for the program comes from Community Development Block Grants sent to the state as part of the CARES Act passed by Congress in March.
The grants are aimed at certain business types, including:
- restaurants, bars and other food and beverage service providers
- travel and tourism destinations, including lodging providers
- live event venues and movie theaters
- conference and meeting facilities
- ice skating rinks
- indoor water parks
- bowling centers
- gyms and fitness centers