MONROE, MICHIGAN
- In an effort to continue to support small businesses, the
Small Business Restart Program
will provide grants to eligible small businesses and non-profits needing working capital to support payroll expenses, rent, mortgage payments, utility expenses or other similar expenses.
The Greater Ann Arbor Region (Monroe, Washtenaw, Jackson, Hillsdale, Livingston & Lenawee counties) have been allocated $8.5 million of which it is estimated that Monroe County will receive $1.2 million to provide grants up to $20,000 to b
usinesses and nonprofits with 50 or fewer employees, located in the County.
All support will be written as a grant agreement with terms and conditions in accordance with
state law.
Businesses must also demonstrate the following:
- Part of an industry or nonprofit that can demonstrate it has been impacted by the COVID-19 emergency
- Needs working capital to support payroll expenses, rent, mortgage payments, utility expenses or other similar expenses
- Demonstrates an income loss as result of the COVID-19 emergency as determined by the Michigan Strategic Fund (MSF)
Additionally, at least 30 percent of the funds awarded under this program will be provided to women-owned, minority-owned or veteran-owned eligible businesses. The MEDC anticipates that more than 5,000 businesses across the state will benefit from this program.
All applications will be processed through the MEDC. The application window opens July 15th and remains open until August 5th. Once all applications are received the BDC will have until September 30th to make selections and report those back to the MEDC.
As noted below, the BDC will be hosting an informational webinar to answer any questions related to this new program. Please click on link to register.
