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To date, more than 130 small service loans amounting to more than $8 million have actually been authorized through MSF entrusted approval. The Michigan Strategic Fund today likewise authorized the $15 million Michigan Agricultural Security Grant Program to support the requirements of Michigan's farming processors and farms. business michigan sterling heights. The program supports the implementation of COVID-19 monitoring and mitigation strategies to protect agricultural employees and the state's general food production industry.
With today's action by the MSF Board, the MEDC has launched 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 learn more about MEDC's COVID-19 response programs and the impact they are having on economic healing efforts, see michiganbusiness.org/covid19response.
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The MEDC has actually also developed a FAQ for Michigan services and neighborhoods at michiganbusiness.org/covid19-faq. Information around this break out is altering rapidly (business michigan sterling heights). The most recent info is readily available at Michigan.gov/ Coronavirus and CDC.gov/ Coronavirus. The Michigan Economic Development 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 journey starts at www.michigan.org. Join the conversation on: Facebook, Instagram, LinkedIn, and Twitter. 2020 CBS Broadcasting Inc. All Rights Scheduled. This product might not be published, broadcast, rewritten, or rearranged.
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- Southwest Michigan First, the regional economic development catalyst based in Kalamazoo, today announced 144 small company grant receivers from Southwest Michigan are getting allowances as part of the state's Michigan Small company Relief Program. Grants might be utilized by recipients for working capital to support payroll costs, rent, mortgage payments, utility expenses or other comparable expenditures that happen in the common course of company.
The seven-county Southwest Michigan region received $800,000 to be administered amongst organisations situated throughout Berrien, Branch, Calhoun, Cass, Kalamazoo, St. Joseph and Van Buren counties. Funding allocations were based on the concentration of qualified little services within each county. The average grant award was $5,555. "The Michigan Small Company Relief Program is one of the methods we are leveraging every resource offered to offer relief in the face of negative effects COVID-19 is having on services across the state," said Josh Hundt, Chief Organisation Advancement Officer and Executive Vice President at the Michigan Economic Development Corporation.
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" We comprehend little organisations throughout our state are dealing with unmatched challenges as we take every step possible to alleviate the spread of COVID-19," stated Guv Gretchen Whitmer. "Through decisive actions like [these] taken by the MSF Board to authorize relief for little organisations throughout Michigan, we are leveraging every resource offered to support our services, communities and entrepreneurs around the state affected by this break out." To administer the funds, Southwest Michigan First and representatives 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 business who have received grants and loans. The MEDC funds likewise alleviate the concern on the companies and monetary institutions, allowing them both to designate resources somewhere else. small business michigan sterling heights." "Businesses in Berrien County and throughout Southwest Michigan are experiencing extraordinary difficulty because of COVID-19 and from executive procedures required to help in reducing the spread of the virus," said State Senator Kim LaSata, R-Bainbridge Area.