Michigan CARES Act: Small Business Restart and Agricultural Safety Grant Programs
August 6, 2020
Michigan has received nearly $880 million in federal funding through the CARES Act to support various COVID-19 response actions around the state. Last week, Governor Whitmer signed a bipartisan supplemental bill into law to put this funding to work for Michigan citizens, small businesses and communities, including $115 million appropriated to the Michigan Strategic Fund (MSF) to deploy two critical business relief programs.
In an effort to quickly get these funds into the hands of those who need them most, the MSF Board held a special meeting this week to authorize the following programs:
- The $100 million Michigan Small Business Restart Program, which will work to reduce the economic impact of the ongoing pandemic on Michigan small businesses and workers. Modeled after the Michigan Small Business Relief Program, the $100 million will be allocated among 15 local economic development organizations to administer the grants to businesses in all 83 Michigan counties. Eligible business may apply for grants up to $20,000 and a minimum of 30 percent of the funds must be awarded to eligible women-owned, minority-owned or veteran-owned eligible businesses. Applications for the Michigan Small Business Restart Program will be available beginning July 15, 2020, at michiganbusiness.org/restart.
- The $15 million Michigan Agricultural Safety Grant Program will provide economic assistance for Michigan farms and agricultural processors to mitigate risks of the COVID-19 virus across the state’s food production industry. Grants will be available on a first come, first serve basis with $10 million total available for agricultural processers and $5 million available for farms. Applications will be processed by Michigan-based GreenStone Farm Credit Services, one of America’s largest rural lenders. Applications will be available beginning July 15, 2020 with information available at michiganbusiness.org/agsafety.
Attached, you will find FAQ documents about each of these programs to provide you more information including eligibility criteria, timelines and eligible uses of the funds.
The State of Michigan remains committed to leveraging all resources – at every level of government – to make sure Michigan is in a position to support the small businesses, nonprofits and industries that are so vital to our state’s economy, while continuing to set a path to long-term recovery. To learn more about the latest relief programs and support available, go to michiganbusiness.org/covid19. Learn more about the impact these program are having across the state at michiganbusiness.org/covid19response.