Small Business Resources to Help Businesses Navigate COVID-19 and Reopening

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Many states across the U.S. have been given the green light to fully reopen, with exceptions in Michigan, Illinois, and California, which have limited reopening. Small businesses are faced with the challenges of when, how, and if they will reopen.

To help Southeast Michigan small businesses navigate, the Chamber pulled together a list of federal, state, and local resources for small business owners to take advantage of as the pandemic continues.

State and Local Grant Relief Options

Michigan Small Business Restart Grant Program will work with statewide economic development organizations (EDOs) to award grants to qualifying small businesses in need of assistance with payroll, rent, mortgage payments, as well as utilities and other expenses.

Participating EDOs in Southeast Michigan include:

  • Flint & Genesee Chamber – $8,045,455
  • Ann Arbor Spark – $8,545,455
  • Oakland County – $11,045,455
  • Macomb County – $7,545,455
  • Detroit Economic Growth Corporation (with money allocated for Wayne County) – $15,545,450

More Resources:

Program applications open Wednesday, July 15 at michiganbusiness.org/restart and close Wednesday, Aug. 5.


 

Small Business Administration (SBA) Relief Options

Additional Federal Funding Options:

  • Federal Reserve’s Mainstreet Lending Program
    As a result of the Coronavirus Aid, Relief & Economic Security (CARES) Act, the Federal Reserve has created the Main Street Lending Program to provide a total of $600 billion in financing for small and medium-sized businesses. While the program’s start date has yet to be announced, here’s what you need to know to check eligibility and get ready to apply.
  • Financing Your Business After Coronavirus
    Not sure about the PPP or EIDL loans? Here are some other financing options to help keep your business afloat.

Additional Reopening Resources:

 

Michigan Strategic Fund Approves $100M Grant Program for Small Businesses’ COVID-19 Recovery

Grant Application Open: Oakland Together Small Business Recovery Fund

$15.5M in Detroit, Wayne County COVID-19 Business Relief Grants Available, Apply Starting July 15

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