COLDWATER, MI (WTVB) – Small businesses in the area impacted by the COVID-19 virus can now apply for grants and loans through the Michigan Small Business Relief Program.
The Michigan Economic Development Corporation says the program will provide up to $20 million in grants and loans to provide economic assistance to Michigan’s small businesses that have been negatively impacted by the COVID-19 virus, and in turn help support workers and their families facing economic uncertainty during the outbreak.
According to officials with the Branch County Economic Alliance, $40,000 is available for small businesses in the county. Eligible businesses must employ 50 or fewer people. The grants can be up to $10,000 per business.
The grants and loans under the Michigan Small Business Relief Program are to support businesses facing drastic reductions in cash flow and the continued support of their workforce and may be used for working capital to support payroll expenses, rent, mortgage payments, utility expenses, or other similar expenses that occur in the ordinary course of business.
The deadline for applying is Tuesday, March 31 at 10:00 a.m. More information on the program and a link the application is available on the City of Coldwater’s website.
