GENESEE COUNTY, Michigan—Small businesses are the engine of any local economy for the people they hire and the services they provide. Covid-19 has thrown a wrench in the gears for many small business operations and for the collective safety of everyone, some have suspended their services completely.
However, an estimated 24,533 vulnerable business owners across Genesee County can take the weekend to garner the security that could potentially carry them through the Covid-19 outbreak.
The Michigan Economic Development Corporation’s Small Business Relief Program is offering $20 million dollars in grants andDistribution of of the $20 million dollars by approved approved economic development organizations. loans to small businesses across Michigan affected most by Gov. Gretchen Whitmer’s executive order implemented Tuesday, March 24.
“This program provides cash assistance to small businesses that need it now,” said Tyler Rossmaessler, director of economic development at the Flint & Genesee Chamber of Commerce. “Genesee County has been allotted $260,000 for these grants (a maximum grant of $10,000); in addition to the grants available, the state also has $10 million available in small business grants (between $50,000 and $200,000).
According to the Flint and Genesee Chamber of Commerce, in order for a small business to qualify to apply, they must be able to demonstrate definite impact or loss of revenue due to the executive order, maintain 50 employees or less, and demonstrate responsibility for “payroll expenses, rent, mortgage payments, utility expenses, or other similar expenses that occur in the ordinary course of business.”
In this way, the Small Business Relief Program is not limited to downtown businesses said Rossmaessler.
“I believe the state put certain requirements on the program because they are trying to target commercial businesses, but they also tried to make the program flexible to local needs.”
The deadline to apply is 11:50 p.m. Sunday, March 30, 2020.
For more information or to apply, visit the Flint and Genesee Chamber of Commerce webpage.