Southeast Michigan gets majority of funds
MEDC received more than 34,000 applications in three days
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Michigan small businesses hurt by the pandemic limitations are getting help from the state.
Nearly 6,000 small businesses in Michigan impacted by the three-month pandemic pause on indoor dining and other operation limits are sharing in $52.5 million in grant funds from the state.
The grants from the Michigan Economic Development Corp. s Michigan Small Business Survival Grant program will go to 5,960 businesses and help maintain nearly 53,000 jobs, according to a Wednesday news release from Gov. Gretchen Whitmer s office.
Wednesday s figures show that, on average, a business received just more than $8,800. The MEDC received more than 34,000 applications for the funds during the three-day application window.
Nearly 35,000 small businesses apply for $55 million in pandemic relief funds
$55 million can cover about 2,750 applicants
$3.5 million also available to small entertainment venues
Emily Elconin/Bloomberg
Thousands of businesses throughout Michigan have been impacted by the coronavirus pandemic. Nearly 35,000 small businesses in Michigan applied for a share of $55 million in relief funds over three days last week, highlighting the overwhelming need as the pandemic nears the one-year mark.
The Michigan Strategic Fund board earlier this month approved the grants for businesses impacted by state health department orders limiting hours, capacity and more. Successful applicants will receive up to $20,000 each. That would cover just 2,750 businesses at the full grant amount.
The Michigan Strategic Fund of the Michigan Economic Development Corporation approved two grant programs to meet the urgent needs of small businesses and live event venues in Michigan that have been impacted by the COVID-19 pandemic.