$400 million announced to boost Michigan economy and help struggling businesses

LANSING, Mich. (WILX) — A new grant program across the state of Michigan was announced Wednesday. It’s called the Distressed Business Relief Grant program, and its goal is to distribute $409 million to businesses to help keep or create jobs.

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Under the new program, eligible businesses in operation before October 1, 2019 can receive a percentage of their loss in total state sales through a grant of up to $5 million. Eligible businesses that started operating between October 1, 2019 and June 1, 2020 can receive a grant equal to 25% of certain specified costs.

“This program will support Michigan businesses that have been impacted by COVID-19 and help us build on our economic momentum,” Governor Whitmer said. “Michigan’s resilient and innovative small businesses need support right now, and we should continue to support them as they work to expand their operations and create more jobs.”

“The Treasury is committed to ensuring that these payments are received by eligible businesses,” said state treasurer Rachael Eubanks. “We are working with our business and community partners to ensure that potential applicants are aware of this funding opportunity. I encourage companies to check if they are eligible for a grant.

Businesses must submit a completed online application to the Michigan Department of Treasury by 11:59 p.m. EST Thursday, March 31. Scholarship recipients will be notified in the spring and scholarships will be distributed by July 1, 2022.

The app will be available at 8 a.m. EST on Tuesday, March 1 on the Afflicted Business Relief website.

Following: Michigan reports 4,271 new cases, 312 deaths in past days

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