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To date, more than 130 bank loan amounting to more than $8 million have actually been authorized through MSF handed over approval. The Michigan Strategic Fund today likewise authorized the $15 million Michigan Agricultural Security Grant Program to support the needs of Michigan's agricultural processors and farms. small business michigan sterling heights. The program supports the implementation of COVID-19 monitoring and mitigation strategies to safeguard agricultural workers and the state's general food production industry.
With today's action by the MSF Board, the MEDC has introduced 17 COVID-19 relief and recovery programs supporting more than 3,100 service in the state and helping to keep more than 12,400 jobs across all 83 counties. To read more about MEDC's COVID-19 reaction programs and the impact they are having on economic recovery efforts, visit michiganbusiness.org/covid19response.
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The MEDC has likewise established a FAQ for Michigan services and neighborhoods at michiganbusiness.org/covid19-faq. Information around this break out is altering rapidly (business michigan sterling heights). The most recent info is readily available at Michigan.gov/ Coronavirus and CDC.gov/ Coronavirus. The Michigan Economic Advancement Corporation is the state's marketing arm and lead advocate for service advancement, job awareness and community advancement with the concentrate on growing Michigan's economy.
MichiganBusiness.org. For Pure Michigan tourism information, your trip starts at www.michigan.org. Sign up with the conversation on: Facebook, Instagram, LinkedIn, and Twitter. 2020 CBS Broadcasting Inc. All Rights Reserved. This material might not be released, broadcast, reworded, or redistributed.
Little Known Questions About Small Business Michigan Sterling Heights.
- Southwest Michigan First, the local financial development catalyst based in Kalamazoo, today announced 144 small company grant receivers from Southwest Michigan are getting allowances as part of the state's Michigan Small company Relief Program. Grants might be used by recipients for working capital to support payroll expenses, rent, home mortgage payments, energy costs or other similar expenses that occur in the ordinary course of organisation.
The seven-county Southwest Michigan area got $800,000 to be administered among companies located throughout Berrien, Branch, Calhoun, Cass, Kalamazoo, St. Joseph and Van Buren counties. Funding allowances were based upon the concentration of eligible small businesses within each county. The typical grant award was $5,555. "The Michigan Small Organisation Relief Program is among the ways we are leveraging every resource readily available to supply relief in the face of negative impacts COVID-19 is having on businesses throughout the state," said Josh Hundt, Chief Business Advancement Officer and Executive Vice President at the Michigan Economic Advancement Corporation.
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" We comprehend small companies across our state are dealing with unmatched difficulties as we take every step possible to mitigate the spread of COVID-19," stated Guv Gretchen Whitmer. "Through decisive actions like [these] taken by the MSF Board to authorize relief for little services throughout Michigan, we are leveraging every resource offered to support our companies, communities and business owners around the state affected by this outbreak." To administer the funds, Southwest Michigan First and representatives from Foundation Alliance, Battle Creek Unlimited, Marshall Area Economic Advancement Alliance, Albion Economic Advancement Corporation, Market Van Buren and the City of Coldwater collected finished applications.
" These dollars will have an instant influence on the health of the businesses who have actually received grants and loans. The MEDC funds also reduce the concern on the companies and monetary institutions, allowing them both to designate resources somewhere else. small business michigan sterling heights." "Businesses in Berrien County and throughout Southwest Michigan are experiencing extraordinary difficulty because of COVID-19 and from executive procedures taken to help in reducing the spread of the virus," stated State Senator Kim LaSata, R-Bainbridge Town.