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To date, more than 130 little organisation 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 Safety Grant Program to support the needs of Michigan's agricultural processors and farms. business michigan sterling heights. The program supports the execution of COVID-19 tracking and mitigation methods to secure agricultural employees and the state's general food production industry.
With today's action by the MSF Board, the MEDC has introduced 17 COVID-19 relief and healing programs supporting more than 3,100 company in the state and assisting to keep more than 12,400 tasks throughout all 83 counties. For 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 Frequently Asked Question for Michigan companies and neighborhoods at michiganbusiness.org/covid19-faq. Info around this break out is changing rapidly (business michigan sterling heights). The current info is offered 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, job awareness and community advancement with the concentrate on growing Michigan's economy.
MichiganBusiness.org. For Pure Michigan tourism info, 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, rewritten, 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 Business Relief Program. Grants might be utilized by receivers for working capital to support payroll costs, rent, mortgage payments, energy expenditures or other comparable costs that happen in the regular 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 companies within each county. The average grant award was $5,555. "The Michigan Small Company Relief Program is among the ways we are leveraging every resource available to provide relief in the face of unfavorable impacts COVID-19 is having on companies across the state," stated Josh Hundt, Chief Company Development Officer and Executive Vice President at the Michigan Economic Advancement Corporation.
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" We comprehend little companies across our state are dealing with extraordinary difficulties as we take every step possible to reduce the spread of COVID-19," said Guv Gretchen Whitmer. "Through definitive actions like [these] taken by the MSF Board to license relief for small companies throughout Michigan, we are leveraging every resource readily available to support our organisations, neighborhoods and entrepreneurs around the state impacted by this break out." To administer the funds, Southwest Michigan First and agents from Cornerstone Alliance, Battle Creek Unlimited, Marshall Location Economic Development Alliance, Albion Economic Development Corporation, Market Van Buren and the City of Coldwater gathered finished applications.
" These dollars will have an immediate effect on the health of the services who have gotten grants and loans. The MEDC funds likewise relieve the burden on the business and banks, permitting them both to assign resources elsewhere. business michigan sterling heights." "Services in Berrien County and throughout Southwest Michigan are experiencing unmatched challenge since of COVID-19 and from executive measures required to help lower the spread of the infection," said State Senator Kim LaSata, R-Bainbridge Area.