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New COVID-19 relief grants coming for Michigan small businesses

[1]Michigan small businesses in designated industries will soon have access to another $10 million in pandemic relief funding, with the new Pure Michigan Small Business Relief Initiative announced by the Michigan Economic Development Corporation.

Grant funds of up to $15,000 will assist eligible Michigan small businesses directly impacted by COVID-19 to meet urgent working capital needs including payroll expenses, rent or mortgage payments and utility expenses.  Applicants must operate in the following industries:

These federal CARES Act dollars were distributed by the U.S. Department of Housing and Urban Development to the Michigan Community Development Block Grant  [2] program. To qualify for grant support, businesses must meet eligibility criteria including but not limited to:

It is expected that the funds will be divided into 10 regions around the state, with $3.55 million, or 35.5 percent, being made available to businesses in Macomb, Oakland and Wayne counties.  For assistance in applying for this new grant program, please contact a ShindelRock tax professional [3].