Federal, State and Local Financial Relief

Resources to help navigate financial relief during a global pandemic

 

Federal Financial Relief

Paycheck Protection Program
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First Draw Borrower Application Form 

Second Draw Borrower Application Form
Up to $2 million non-taxable loan designed to provide a direct incentive for small businesses to keep their workers on payroll.

 
501(c)6 organizations, news media outlets, and housing cooperatives are now eligible in addition to the other qualified organizations.

Organizations with fewer than 300 full-time employees.

No publicly-traded companies.

Can demonstrate a decrease in revenue of at least 25% during any of the first three quarters of 2020.
Shuttered Venue Operators Grant
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Not yet accepting applications

Grant program for eligible live venues, theaters and museum operators that lost at least 25% of their revenue in 2020

Up to $10 million grant capped at 45% of an applicant's 2019 revenue 
Eligible small business entity with up to 50 employees.

Those that experienced at least 90% revenue losses between April 2020 and December 2020 are eligible to apply during the first 14 days of the program.

Those that experienced at least 70% revenue losses are eligible to apply during the next 14-day period. 

Those that experienced at least 
25% revenue losses are eligible to apply 28 days after other priority awards are distributed.

 
LISC Rural Relief Small Business Grant
More Information

FAQ
 
Grants ranging from $5,000 - $20,000

The next grant application period opens on January 26th.
Small businesses located in rural communitites (pop. less than 50,000)
COVID-19 Economic Injury Disaster Loan
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FAQ

SBA Application
Designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue due to COVID-19

For working capital & normal operating expenses

Non-forgivable loan with fixed terms of 3.75% for businesses and 2.75% for nonprofits over 30 years

 
Priority given to:

- Small business owners and nonprofit organizations with 300 or fewer employees

- Located in a low-income neighborhood

- AND experienced a 30% reduction in gross receipts during any 8-week period between March and December 2020.
Small Business Debt Relief Program
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6 months of debt forgiveness for small businesses with standard SBA 7(a), 504, or microloans.

Payments capped at $9,000/month

Not applicable for Paycheck Protection Program loans or Economic Injury Disaster loans
Borrowers with loans approved by the SBA prior to the CARES Act will receive an additional three months of payments beginning in February of 2021.
SBA Express Bridge Loan Program
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Program Guide
 
Up to $25,000 loan

Fast turnaround – intended to be used while you apply for EIDL funding

Will be repaid in full or in part by proceeds from the EIDL loan

Apply through your SBA approved lender or bank

Small businesses under SBA size standards 

USDA Business & Industry Loan Guarantee Program
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Fact Sheet
Up to $10,000,000 loan

Bolsters the availability of private credit by guaranteeing loans for rural businesses.

Apply through your local lender.
For profit businesses and non-profit organizations.

Check eligibility HERE
Employee Retention Tax Credit

More Information

Original Guide

Program Updates

A 70% refundable tax credit for $10,000 in qualified employee wages each quarter (or a maximum of $14,000 per employee through June 30, 2021)

Credit is applied against employer payroll taxes
 
Employers with 500 or fewer employers who experienced a decline of more than 20% in gross receipts in a quarter compared to the same quarter in 2019.
 

State Financial Relief

Michigan Small Business Survival Grant
More Information

FAQ
Application opens on January 19th at 9:00 am and closes January 22nd at 12:00 pm

Grants of up to $20,000 for fully closed businesses and nonprofits

Grants of up to $15,000 for partially closed or open businesses and nonprofits

Not first-come, first-serve
1 to 100 employees (including full-time, part-time and owner-employees) on a worldwide basis on November 17, 2020.

Affected by the COVID-19 emergency “gatherings and face mask orders.”

Needs working capital to support payroll expenses, rent, mortgage payments, utility expenses, or other similar expenses.

Demonstrates an income loss as a result of the Order as determined by Lakeshore Advantage in which an eligible business is located.

Is not a live music and entertainment venue that is eligible for funds under section 401 of Public Act 257 of 2020. 
Michigan Stages Survival Grant Program
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FAQ













 
One-time grant of up to $40,000 to eligible entertainment and live music venues that have experienced a significant financial hardship as a result of the COVID-19 pandemic and emergency declarations

Application opens on January 21, 2021 at 9:00 am and closes, January 28, 2021 at 12:00 pm






 
- Be located in the state of Michigan
- Produce and/or present live, disciplined-based performance experiences.
- Demonstrate at least 33% of 2019 gross revenues were from the sale of tickets for live music or entertainment events OR receive at least 70% of its earned revenue through cover charges or tickets sales, production fees or production reimbursements, nonprofit educational initiatives, or the sale of event beverages, food or merchandise
- Demonstrate second quarter revenues from April 1 – June 30, 2020 were not greater than 10% of same quarter in 2019
- Employ less than 30 full time employees
- Existed prior to February 29, 2020
- Not owned and operated in more than two states
- Not owned and operated with offices in more than one country
Employee Assistance Grant Program
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FAQ
Application opens on January 15, 2021 at 9:00 am and closes January 25, 2021 at 5:00 pm

One-time grant of up to $1,650.
Not first-come, first-serve
Impacted by MDHHS Gathering and Face Mask Order of November 18, 2020 AND working in a:

- Restaurant, Bar, or Nightclub
- Hotel, Motel, or Bed & Breakfast
- Resort or Casino
- Bowling Alley, Theater, or Golf Course
- Banquet Hall, Caterer, or Cafeteria
- Other applicable industry
PMBC Business Connect Access & Certification Grant
Fact Sheet

Application
Eligible companies may qualify for up to $15,000 in assistance to offset 50 percent of pre-approved expenses per fiscal year. 
 
Eligible companies will pay for the certification or software and the MEDC will reimburse 50% of those expenses, after receiving valid proof of payment.

The program funds may be approved for:
  1. International Certification
  2. Industrial Certification
  3. Software Access to Procurement/Bid Site
  4. Other procurement barriers as approved by review committee that are not based on race, sex, color, ethnicity, or national origin
Demonstrate potential for increased business 

EIN number linked to Michigan address with full-time employees in Michigan

Small businesses under SBA size standards
MIOSHA Workplace Improvement to Safety and Health (MIWISH) Grant 
Grant Application

More information
 
​Up to $5,000 grant


Dollar-to-dollar match

For companies to purchase safety and health-related equipment and/or equipment-related training

Grant processing takes 4-6 weeks
​For businesses with 250 employers or less based in Michigan
Michigan Entrepreneur Resilience Fund
 
More Information

Business Application
$1.5 million fund to help businesses respond to COVID-19

Microloans between $5,000 and $10,000 with a 1-3 year repayment period and 8% interest
Requirements vary based on the avenue of funding
PPE Tax Exemption
   
More Information PPE exempt from state’s sales and use tax if purchased for industrial processing

Must be used for safety of employees or authorized employees engaged in industrial processing activities
Industrial processors
 

Local Financial Relief

Banking / Utility Resources

Fifth Third Hardship Relief

Consumers Energy Relief

Holland BPW

Huntington Bank Financial Measures Relief

DTE Energy

ITC Holdings

Michigan Gas Utilities

Zeeland BPW

SBA Bank Resources