Sci-tech

Grant funds available for county's small businesses

Grant funds available for county's small businesses”

The emergency program will disburse $6 million in federal CARES Act funding to small businesses that qualify in 64 municipalities.

Eligible businesses include for-profit and non-profit businesses with 20 full-time employees or less, as well as independent contractors. The grant is meant to provide gap financing for businesses negatively impacted by social distancing mandates and are at risk for layoffs or closures.

Sole proprietors can use grant funding as income replacement by providing documentation on lost revenue so long as no unemployment benefits are being received or are expected to be received by the applicant.

The Micro Business, Small Business and Enhanced Small Business Assistance Grants are for qualified businesses in San Joaquin County that have documented, unfunded expenditures incurred due to the COVID-19 pandemic.

The Michigan Strategic Fund (MSF) of the Michigan Economic Development Corporation (MEDC) on July 7 approved a $100 million Michigan Small Business Restart program that will provide grants to small businesses around Michigan working to recover from the ongoing impacts of COVID-19.

Enhanced Small Business Assistance Grant Program: This grant is meant to assist businesses with between 51 and 250 employees. "We can further our economic recovery in MI by putting federal dollars through the CARES Act to work for the people and businesses across our state through efforts like these".

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Applications will open August 10, 2020, online, and funds will be distributed on a first come first served basis.

To receive funding, businesses also must be for-profit entities in Shelby County that have been in operation since at least January 2019. Businesses that have received support through other COVID-19 relief programs, including the Michigan Small Business Relief Program loans, are eligible to apply for Restart grants.

The rent relief is geared toward smaller-sized businesses.

"They have been able to keep overhead costs, keep employees on payrolls, pay vendors, and have a little extra peace of mind that their business would survive", as a result of those aid programs, Gov. Phil Murphy said on Thursday.

The program is funded through the U.S. Department of Housing and Urban Development's Community Development Block Grant - Coronavirus (CDBG-CV) funds.

Small Business Assistance Grant Program - Round 2: This grant is an extension of the grant program launched on June 1, 2020 and closed on June 30.



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