Federal, State and Local Financial Relief

Resources to help navigate financial relief during a global pandemic

Federal Financial Relief

Paycheck Protection Program (PPP)
Info Sheet

Program Overview 


Info on SBA Website

Contact SBA Lenders

Sample Application Here 

Loan Forgiveness Calculator

Loan Forgineness Application
Apply through your SBA approved lender or bank

Funds are limited 

Borrowers may be eligible to have their loans forgiven
SBA Economic Injury Disaster Loan (EIDL)
Program Details

SBA Website

SBA Application
Only for U.S. agriculture businesses at this time

Up to $2 million loan

3.75% fixed for 30 years

Apply directly through the SBA (not your lender)
Agriculture businesses only
Small Business Debt Relief Program
More Information Here

Fact Sheet (p.6)

Debt forgiveness for small businesses with standard SBA 7(a), 504, or microloans.

Loan forgiveness will be enacted by SBA automatically. Contact bank or lender for more info

Any business with existing SBA 7(a), 504, or microloans

SBA 7(a) Loan
Loan Defined

Info on SBA Website
Up to $5 million loan

Apply through your SBA approved lender or bank
Small businesses under SBA size standards

SBA's Size Standards Tool
SBA Express Bridge Loan Program
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 

SBA's Size Standards Tool
Federal Reserve Main Street Lending Program  *not open
Press Release

More Info

Between $1 million and $150 million depending on loans.

Apply through U.S. insured depository institutions, U.S. bank holding
companies, and U.S. savings and loan holding companies.

Loans not eligible for full or partial forgiveness.

Contact bank or lender for more info
Companies with up to 10,000 workers or up to $2.5 billion in revenue
USDA Business & Industry Loan Guarantee Program
More Information 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

A 50% tax credit for the first $10,000 in compensation.

Credit is applied against employer payroll taxes.

To claim the credit, you will include 50% of eligible wages on your second quarter Form 941, 941-SS, or 941-PR
Employers who are closed, partially closed, or experiencing significant revenue losses as a result of COVID-19
Paid Sick Leave Credit and Family Leave Credit
More Information Tax credit for an employee who is unable to work because of coronavirus quarantine or self-quarantine OR has coronavirus symptoms and is seeking a medical diagnosis.

Employees are entitled to paid sick leave for up to 10 days (up to 80 hours) at the employee's regular rate of pay up to $511 per day and $5,110 in total.

Credit also extends to employees who are unable to work due to caring for someone with coronavirus or caring for a child because the child's school or place of care is closed, or the paid childcare provider is unavailable due to the coronavirus.

For the time period from April 1, 2020 to December 31, 2020
Employer’s business must be fully or partially suspended by government order due to COVID-19 OR
Employer's gross receipts are below 50% of the comparable quarter in 2019
FedEx #SupportSmall Grants
More Information $5,000 grant plus $500 FedEx credit for printing and packaging costs

Opens May 25th
U.S.-based small business in operation for more than 1 year

Fewer than 50 employees

Less than $5 million in annual sales revenue

Have shipped in the last 12 months or plan to ship in the next 12 months



State Financial Relief

Lake Trust Credit Union Micro Business Loans
More Information ​Up to $50,000 loan ​For businesses located in Michigan
Michigan Child Care Relief Fund

More Information

Grant Application

$130 million non-competitive grant fund designed to make childcare more affordable and accessible for families during COVID-19

$1,500 for licensed home-based providers and $3,000 for centers

License-exempt providers can apply for a one-time payment of $500
Childcare service providers in Michigan
MIOSHA Workplace Improvement to Safety and Health (MIWISH) Grant 
Grant Application

​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

Grants between $1,000 and $5,000 for reopening or pivoting purposes

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
Match on Main – COVID-19 Response Program
More Information

Provides downtown management organizations with up to $50,000 to administer to eligible small businesses

Application due May 29th, 2020
Must be certified or engaged in the Redevelopment Ready Communities Program
MLive Media Group Grant Program
More Information $10 million in matching grants to support the marketing, advertising, and branding needs of Michigan businesses with MLive.com and its newspapers.

Grants start at $1,500 and will be matched up to $50,000.

Applications will be accepted through June 15, 2020.
Lake Trust Credit Union Great Lakes Giveback
More Information

Business Application
$1,000 crowdfunding grants

Requires a 1:1 match

Priority given to businesses with fewer than 25 employees

Crowdfunding match campaign goes from June 15th to July 15th
For small businesses in Michigan

Local Financial Relief

Plainwell Revolving Loan Program
More Information

Business Application

1% interest rate paid over 5 years

Loans are between $500 and $5,000

Can now be used for emergency disaster funding

Must be owner of real property and/or business establishment in the City of Plainwell

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