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Michigan authorizes $115M for businesses hurt by pandemic

Michigan State Capitol, File Michigan State Capitol, File |  Photo: Pixabay

Created: July 08, 2020 02:19 PM

LANSING, Mich. (AP) - Michigan’s economic development board has authorized a $115 million grant program for small businesses, nonprofits, farms and agricultural processors hurt by the coronavirus pandemic. Entities can start applying July 15.

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Michigan will disburse the funding to local economic development organizations that will give it to businesses and nonprofits.

To qualify for $100 million for businesses and nonprofits, an applicant must have no more than 50 employees. The maximum grant is $20,000.

At least 30% of the funds must go to businesses owned by women, minorities or veterans. There also is $10 million for agricultural processors and $5 million for farms.
 

Copyright 2020 The Associated Press. All rights reserved.

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