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To date, more than 130 little business loans totaling more than $8 million have been approved through MSF entrusted approval. The Michigan Strategic Fund today likewise authorized the $15 million Michigan Agricultural Security Grant Program to support the requirements of Michigan's farming processors and farms. business michigan sterling heights. The program supports the implementation of COVID-19 monitoring and mitigation strategies to protect agricultural employees and the state's overall food production industry.
With today's action by the MSF Board, the MEDC has launched 17 COVID-19 relief and recovery programs supporting more than 3,100 company in the state and helping to keep more than 12,400 jobs across all 83 counties. To find out more about MEDC's COVID-19 reaction programs and the impact they are having on economic recovery efforts, visit michiganbusiness.org/covid19response.
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The MEDC has likewise developed a FAQ for Michigan organisations and communities at michiganbusiness.org/covid19-faq. Info around this break out is changing rapidly (business michigan sterling heights). The most recent info is readily available at Michigan.gov/ Coronavirus and CDC.gov/ Coronavirus. The Michigan Economic Advancement Corporation is the state's marketing arm and lead advocate for company advancement, task awareness and community development with the focus on growing Michigan's economy.
MichiganBusiness.org. For Pure Michigan tourist details, your trip begins at www.michigan.org. Join the discussion on: Facebook, Instagram, LinkedIn, and Twitter. 2020 CBS Broadcasting Inc. All Rights Booked. This product may not be published, broadcast, reworded, or redistributed.
About Small Business Michigan Sterling Heights
- Southwest Michigan First, the regional financial advancement driver based in Kalamazoo, today revealed 144 small company grant recipients from Southwest Michigan are receiving allocations as part of the state's Michigan Small company Relief Program. Grants may be utilized by receivers for working capital to support payroll costs, rent, mortgage payments, utility expenditures or other comparable costs that happen in the regular course of company.
The seven-county Southwest Michigan region got $800,000 to be administered amongst companies located throughout Berrien, Branch, Calhoun, Cass, Kalamazoo, St. Joseph and Van Buren counties. Funding allowances were based upon the concentration of eligible small companies within each county. The typical grant award was $5,555. "The Michigan Small Company Relief Program is one of the ways we are leveraging every resource readily available to offer relief in the face of negative impacts COVID-19 is having on organisations throughout the state," said Josh Hundt, Chief Business Advancement Officer and Executive Vice President at the Michigan Economic Development Corporation.
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" We comprehend small companies across our state are facing extraordinary obstacles as we take every action possible to reduce the spread of COVID-19," said Guv Gretchen Whitmer. "Through definitive actions like [these] taken by the MSF Board to authorize relief for small organisations throughout Michigan, we are leveraging every resource readily available to support our services, communities and entrepreneurs around the state affected by this break out." To administer the funds, Southwest Michigan First and representatives from Foundation Alliance, Fight Creek Unlimited, Marshall Area Economic Development Alliance, Albion Economic Advancement Corporation, Market Van Buren and the City of Coldwater collected completed applications.
" These dollars will have an instant influence on the health of the companies who have gotten grants and loans. The MEDC funds also ease the problem on the companies and banks, enabling them both to allocate resources in other places. business michigan sterling heights." "Companies in Berrien County and throughout Southwest Michigan are experiencing unprecedented challenge since of COVID-19 and from executive procedures required to help lower the spread of the virus," stated State Senator Kim LaSata, R-Bainbridge Area.