New round of grants available to Michigan businesses hurt by pandemic

The Michigan Department of Treasury is administering a $409 million business grant relief program designed to help certain Michigan businesses that have experienced a financial hardship due to the COVID-19 public health emergency.

Under the Afflicted Business Relief Grant Program, eligible businesses in nine categories (Entertainment Venues, Recreational Facilities and Public Places of Amusement, Barbers and Cosmetologists, Exercise Facilities, Food Establishments, Nursery Dealers and Growers, Athletic Trainers, Body Art Facilities, and Hotels and Bed & Breakfast Establishments) in operation before Oct. 1, 2019, may receive a percentage of their loss in total state sales through a grant. Eligible businesses that began operating between Oct. 1, 2019, and June 1, 2020, may receive a grant equal to 25% of certain specified costs.

Depending upon the number of businesses that apply, the grants may be prorated to ensure that all eligible businesses can receive funding.  The application will become available at 8 a.m. EST on Tuesday, March 1, at  Eligible businesses applying for a grant will be required to include tax and other financial information and documentation to support their claims.

Businesses must submit a completed online application to the state Treasury Department no later than 11:59 p.m. EST Thursday, March 31. Grant awardees will be notified in the spring and grant awards will be distributed by July 1, 2022.

Businesses interested in applying are encouraged to attend one of the following informational webinars hosted by the state Treasury Department:

  • Thursday, Feb. 17 at 9-10 a.m. EST
  • Tuesday, Feb. 22 at 10-11 a.m. EST
  • Monday, March 7 at 1-2 p.m. EST

Details for signing up for a webinar can be found on the grant program’s website or contact a ShindelRock tax professional for more information.