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To date, more than 130 bank loan amounting to more than $8 million have actually been authorized through MSF handed over approval. The Michigan Strategic Fund today also approved the $15 million Michigan Agricultural Safety Grant Program to support the needs of Michigan's agricultural processors and farms. business michigan sterling heights. The program supports the application of COVID-19 tracking and mitigation methods to secure farming staff members and the state's total food production market.
With today's action by the MSF Board, the MEDC has actually released 17 COVID-19 relief and recovery programs supporting more than 3,100 business in the state and helping to retain more than 12,400 jobs across all 83 counties. To get more information about MEDC's COVID-19 response 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 latest 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 service advancement, task awareness and community development with the concentrate on growing Michigan's economy.
MichiganBusiness.org. For Pure Michigan tourist information, your trip begins at www.michigan.org. Sign up with the discussion on: Facebook, Instagram, LinkedIn, and Twitter. 2020 CBS Broadcasting Inc. All Rights Reserved. This material might not be released, broadcast, reworded, or redistributed.
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- Southwest Michigan First, the local financial advancement driver based in Kalamazoo, today announced 144 small company grant recipients from Southwest Michigan are receiving allowances as part of the state's Michigan Small Organisation Relief Program. Grants might be utilized by recipients for working capital to support payroll costs, rent, mortgage payments, energy expenditures or other comparable costs that occur in the ordinary course of business.
The seven-county Southwest Michigan area got $800,000 to be administered among companies located throughout Berrien, Branch, Calhoun, Cass, Kalamazoo, St. Joseph and Van Buren counties. Financing allowances were based upon the concentration of eligible small organisations within each county. The typical grant award was $5,555. "The Michigan Small Service Relief Program is one of the methods we are leveraging every resource readily available to supply relief in the face of unfavorable impacts COVID-19 is having on businesses throughout the state," stated Josh Hundt, Chief Company Advancement Officer and Executive Vice President at the Michigan Economic Advancement Corporation.
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" We comprehend small companies across our state are dealing with extraordinary difficulties as we take every step possible to mitigate 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 impacted by this break out." To administer the funds, Southwest Michigan First and agents from Cornerstone Alliance, Fight Creek Unlimited, Marshall Location Economic Development Alliance, Albion Economic Development Corporation, Market Van Buren and the City of Coldwater gathered completed applications.
" These dollars will have an immediate effect on the health of the services who have received grants and loans. The MEDC funds likewise relieve the burden on the business and monetary institutions, permitting them both to assign resources elsewhere. small business michigan sterling heights." "Organisations in Berrien County and throughout Southwest Michigan are experiencing unmatched hardship due to the fact that of COVID-19 and from executive steps taken to help in reducing the spread of the infection," said State Senator Kim LaSata, R-Bainbridge Township.