Low-interest SBA loans coming to Michigan small businesses

Small business owners may get relief from economic hardships brought by the COVID-19 from a coalition of economic developers and entrepreneurial support organizations.  The Michigan Economic Development Corp., the state’s business attraction and marketing entity, said Tuesday it would work closely with organizations such as the U.S. Small Business Administration to ensure there’s financial assistance available for the state’s small businesses.  The SBA has plans to make $1 billion available in low-interest loans to affected small businesses.

Businesses looking for assistance can contact the MEDC’s call center at MichiganBusiness.org or call (888) 522.0103. The Michigan Small Business Development Center can also provide resources at sbdcmichigan.org/small-business-covid19.