Reminder: Application for Michigan Small Business Restart Program Goes Live at 9:00am This Morning
Program to Provide Grants to Small Businesses Around Michigan Working to Recover from the Ongoing Financial Impact of COVID-19 Pandemic As we told you last week, the application for the Michigan Small Business Restart Program went live as of 9:00am this morning, offering another resource to Michigan small businesses feeling
the economic crunch association with coronavirus and the COVID-19 pandemic. The application process will close on August 5, 2020, at 11:59 pm. Grants of up to $20,000 each are available to fund such business activities as payroll expenses, rent, mortgage payments, utility expenses, costs related to reopening a business, or other use authorized under the CARES Act. Expenditures made between March 1, 2020, and December 30, 2020, are eligible. To see the July 8, 2020, edition of the MAC Matters announcing the program, click here. For more information, including the online application, eligibility requirements, eligible expenditures, Frequently Asked
Questions, and Program Guidelines, click here. EIDL Advance Program Ended Saturday
Loans Still Available, but Emergency Grant Money Reached Its Funding Limit On Saturday, the U.S. Small Business Administration announced the conclusion of the Economic Injury Disaster Loan (EIDL) Advance program, which provided U.S. small businesses, non-profits and agricultural businesses a total of $20
billion in emergency funding. To assist the greatest number of small businesses, the EIDL Advance provided $1,000 per employee up to a maximum of $10,000. Recipients did not have to be approved for a loan to receive the Advance, which did not have to be repaid, even if the loan itself was ultimately denied. Despite the unavailability of the EIDL Advance, SBA is still processing loan applications. As a reminder, the loan portion of the EIDL program continues to have funds available at a 3.75% interest rate for small businesses, a 30-year maturity, and an automatic deferment of one year before
monthly payments begin. Apply online here.
Executive Order 2020-147 (Masks): MAC-Designed Entrance Sign Now Available
The MAC office has gotten a number of requests for a sample sign doctors can post at their clinic entrance to remain compliant with the State of Michigan’s recent Executive Order 2020-147, which requires Michigan businesses that are open to the public to post signs at entrance(s) instructing customers of their legal obligation to wear a face covering while inside. It also spells out relevant exceptions to the new order.
The sample sign can be customized to include the clinic’s name, logo, and telephone number, and is available here.
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