Business Continuity Resources
Michigan Economic Development Corporation
Business Accelerator Fund (BAF) Loan Expansion in Response to COVID-19
The Business Accelerator Fund (BAF) is available to participating business accelerators in Michigan’s statewide SmartZone network. These funds are used toward the delivery of specialized services that are not otherwise available from these business accelerators, to assist advanced technology companies regardless of the company’s geography.
By expanding the Business Accelerator Fund, the state is working to ensure entrepreneurs and startups with the capabilities to offer support during the COVID-19 outbreak have the means to do so, while also providing the ecosystem greater economic support in response to the crisis. Altogether, the changes to the BAF program will:
Increase the amount of discretionary funds available to business accelerators to more immediately provide services to startups, entrepreneurs and small businesses in need;
Expand the permissible use of BAF to include utilities, rent or other services not typically supported through the BAF program;
Allow certain non-tech businesses to access services through BAF to support the manufacture or distribution of critical medical supplies and personal protective equipment such as masks, gowns and sanitizer; and
Expand company size eligibility requirements and allowable use of funds for tech companies developing innovations that could support COVID-19 response efforts, such as diagnostics, therapeutics, or processes to support the health care system’s response to the virus.
Information for Manufacturers Looking to Produce PPE/Medical Supplies amid COVID-19 health crisis
If you're a manufacturer interested in producing Personal Protective Equipment (PPE) or other medical supplies and equipment during the COVID-19 health crisis, we recommend reviewing this comprehensive guide to product specifications for urgently needed items.
If you review the COVID-19 Product Specification guide and determine you are able to manufacture needed PPE/Medical Equipment during this time, contact The Right Place, Inc. business development team at PPEequip@rightplace.org for assistance with getting started.
U.S. Small Business Administration (SBA)
U.S. Small Business Administration: Economic Injury Disaster Loans (EIDL)
The U.S. Small Business Administration (SBA) has designated COVID-19 as a qualifying event for the provision of Economic Injury Disaster Loans (EIDL) for businesses and private non-profits in declared zones.
What is EIDL?
The EIDL is a low-interest, fixed-rate loan that can provide up to $2 million in assistance for a small business. SBA’s Economic Injury Disaster Loan (EIDLs) funds come directly from the U.S. Treasury. Applicants do not go through a bank to apply, and instead, apply directly to SBA’s Disaster Assistance Program.
Actual loan amounts are based on the amount of economic injury. These loans provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing because of COVID-19. The EIDL helps meet the necessary financial obligations that your business or private non-profit organization could have met had the disaster not occurred. EIDLs do not replace lost sales or revenue.
Eligible Businesses: The EIDL provides up to $2 million of financial assistance to small businesses or private, non-profit organizations that suffer substantial economic injury as a direct result of the declared disaster. This includes:
Businesses directly affected by the disaster
Businesses that offer services directly related to the businesses in the declaration
Other businesses indirectly related to the industry that are likely to be harmed by losses in their community (Example: Manufacturer of widgets may be eligible as well as the wholesaler and retailer of the product.)
To find more information and apply, visit covid19relief.sba.gov
U.S. Small Business Association 7(a) Lenders in Michigan
Funds related to the Federal CARES Act will be accessed by small businesses (less than 500 employees) through the US Small Business Association’s (SBA) 7(a) program. The 7(a) program offers loan and is an all-inclusive loan program deployed by lending partners for eligible small businesses within the U.S. States and its territories. The uses of proceeds include: working capital; expansion/renovation; new construction; purchase of land or buildings; purchase of equipment, fixtures; lease-hold improvements; refinancing debt for compelling reasons; seasonal line of credit; inventory; or starting a business.
Click the link below to download an Excel list of financial institutions in Michigan that are already approved for the SBA 7(a) program.
Michigan Department of Labor and Economic Opportunity (LEO) Weatherization Grants
SBAM administering at least $3M in grants from LEO to help small businesses weather the cold
The Michigan Department of Labor and Economic Opportunity (LEO) is providing federal CARES Act funds to help small businesses hit hardest by COVID-related closures and capacity restrictions to expand their capacity.
Funds may be used for a business to construct temporary structures such as canopies and igloos, or purchase portable heaters, outdoor furniture and tableware, cooking equipment, and other related safety and security upgrades necessary to increase outdoor capacity for carryout and delivery services.
$3,000,000 in grant funding is available on a first-come, first-served basis to qualified applicants, with a goal to award a minimum of 10 grants in each of Michigan's prosperity regions.
Commercial firms and nonprofits with 50 or fewer full-time equivalent employees in the following industries are eligible to apply for funding:
Restaurants and/or bars
Gyms and Fitness Centers
Local Governments, including Cities, Townships, Villages, and Counties that provide common space for businesses
Commercial property owners who provide common space for tenants
Energy Bill Assistance from Consumers Energy
Consumers Energy Delivering Support for Small Businesses During the Coronavirus Crisis
If the Coronavirus (COVID-19) pandemic has made it challenging to meet basic businesses expenses such as rent, payroll or utility bills. Small business customers can call 800-805-0490 to get assistance with their energy bills and to learn about additional short-term resources.
MIWISH Grants Available for Small Employers
The MIOSHA Workplace Improvement to Safety and Health (MIWISH) Grant Program awards qualifying employers a dollar-for-dollar match – up to $5,000 – to purchase safety and health-related equipment and equipment-related training. The goal of the program is to create a safer and healthier work environment and reduce the risk of injury and illness to workers in Michigan.
PPE Available to Small Businesses at No Cost
As employers reopen across Kent County, personal protective equipment (PPE) will be a critical component in helping to protect employees, visitors, clients and customers from the spread of COVID-19. Our program will provide PPE to qualifying small businesses and other employers, at no cost, to assist in reopening their operations. Available PPE includes eye and face protection, gloves, hand sanitizer and thermometers. The Board of Commissioners has allocated $2 million of the County’s CARES Act funding to launch this program.
To qualify, employers must be located in Kent County and must employ 100 people or fewer.
Qualifying employers may begin placing PPE requests on Tuesday, June 2. All qualifying requests received by 11:59 p.m. on Thursday, June 4 will be entered into a random selection process. The first-round lottery selection will take place on Friday, June 5, and we will begin filling requests on that date.
Employers can place requests online starting today, or they may call our fulfillment company partner at (616) 245-3636 between the hours of 8 a.m. and 3 p.m., Monday through Friday, beginning tomorrow, June 2. If the line is busy, the caller may leave a message with their contact information, and a representative will return the call to take the request. Calls are taken either in English or Spanish.
Kent County Small Business Recovery Program
The COVID-19 crisis is devastating the fabric of our local business community. Kent County is built on the backbone of entrepreneurship and small business, and the Kent County Small Business Recovery Program is aimed at delivering short–term financial support to small businesses with the goal of supporting a strong economic recovery.
This fund is focused on using Coronavirus Relief Funds provided under the CARES Act to support for-profit businesses with 0-25 full-time equivalent employees located in Kent County.
This fund helps businesses that have not been able to access, or have been declined for local, state, or federal relief funds, or need additional support to weather this crisis. We are focused on businesses that may be dealing with additional barriers including but not limited to language, general business knowledge, and from underserved communities. Consistent with the limitations of the CARES Act, these businesses also must have been directly impacted and experienced losses due to business interruption due to COVID-19. All distributions of funds are subject to the requirements of the CARES Act and Treasury Department guidance on the use of Coronavirus Relief Funds.
Must be a private, for-profit business located and registered in Kent County with 25 employees (FTEs) or fewer
Must have been directly impacted and experienced losses due to business interruption due to COVID-19.
Must have a business start date prior to 2/15/2020
The first round of applications will be for those that have not previously received COVID-19 related aid