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.

Learn more about the Business Accelerator Fund (BAF) expansion here.

City of Grand Rapids

Grant Program

Small Business and Microenterprise Grant Program from the City of Grand Rapids

The City of Grand Rapids is providing grants up to $5,000 to qualifying small businesses impacted by the coronavirus pandemic.  About $1 million in Community Development Block Grant Coronavirus (CDBG-CV) funds will assist small businesses and microenterprises with payroll, rent, mortgage, utility, or similar business expenses. See the program overview and requirements below to determine whether you are likely to qualify.

To be eligible, your business must meet all of the following requirements:

  • Have up to 25 employees

    • Small Business – businesses with 1-25 employees, or

    • Microenterprise – businesses with 1-5 employees, including the owner

  • For profit businesses only. Nonprofits are not eligible.

  • Have a physical location (no internet only or home-based businesses)

  • Located in the General Target Area

  • Must have been in business as of October 1, 2019

  • Comply with local, state or federal laws (e.g. marijuana-related businesses are prohibited)

  • Not owe past due taxes, fines, fees or other debts to the City.

More information, including application assistance and the application portal, can be found here.

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 Administration Reopens Paycheck Protection Program (PPP)

The US Small Business Administration (SBA) has reopened the Paycheck Protection Program (PPP) the week of January 11, 2021 for new borrowers and certain existing PPP borrowers.
 

To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on Monday, January 11, and Second Draw PPP Loans on Wednesday, January 13. The PPP2 will open to all participating lenders shortly thereafter. Updated PPP guidance outlining Program changes to enhance its effectiveness and accessibility was released on January 6 in accordance with the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act.
 

Companies interested in applying for a new PPP loan are strongly urged to promptly consult with their financial institution and tax advisor to ensure they have the latest information. Elements of this are still evolving, and this ensures companies are prepared to act as the loan funds become available.
 

Key Updates to PPP Include: 

  • PPP borrowers can set their PPP loan’s covered period to be any length between 8 and 24 weeks to best meet their business needs;

  • PPP loans will cover additional expenses, including operations expenditures, property damage costs, supplier costs, and worker protection expenditures;

  • The Program’s eligibility is expanded to include 501(c)(6)s, housing cooperatives, destination marketing organizations, among other types of organizations;

  • The PPP provides greater flexibility for seasonal employees;

  • Certain existing PPP borrowers can request to modify their First Draw PPP Loan amount; and

  • Certain existing PPP borrowers are now eligible to apply for a Second Draw PPP Loan.
     

Eligible Businesses A borrower is generally eligible for a second draw PPP loan if the borrower:

  • Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses;

  • Has no more than 300 employees; and

  • Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020.

RESOURCES

NEWLY RELEASED GUIDANCE

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.

View a list of financial institutions in Michigan already approved for the SBA 7(a) program

West Michigan Personal Protective Equipment (PPE) Directory 

Information for Businesses Seeking to Acquire PPE from West Michigan-based Suppliers

The Right Place, Inc. has developed a directory of West Michigan manufacturers that are actively producing and supplying personal protective equipment (PPE)

Visit their website to view the interactive directory, complete with a list of contacts that are able to supply your business with necessary PPE for workplace safety. 

 

If you are a manufacturer interested in producing PPE/Medical Equipment during this time, review the COVID-19 Product Specification guide to determine feasibility, then contact The Right Place, Inc. business development team at PPEequip@rightplace.org for assistance with getting started.

MIOSHA Safety 

Programs 

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. 

More information and the application can be found at michigan.gov/mioshagrants. 

Free Workplace Safety Consultations

Businesses across the state can now schedule free COVID-19 safety consultations as a part of the new Ambassador program partnership with NSF International and MIOSHA. Ambassadors are conducting outreach to statewide businesses to offer education and support to implement regulations on workplace safety.

 

In addition to tier-one education which provides a brief consultation, businesses can now visit the COVID-19 workplace safety website to schedule tier-two consultations, an in-depth assessment of workplace safety requirements, with NSF International. These in-depth, collaborative meetings will connect employers directly with an Ambassador to identify and implement solutions in their specific workplace free of charge to the business. Tier-two visits are targeted to these at-risk industries: retail stores, restaurants and gyms.

Businesses that successfully complete tier-two visits will soon receive official signage to acknowledge COVID-19 workplace safety commitments and efforts to keep customers and employees safe.

Ambassadors are delivering education toolkits to businesses statewide as part of tier-one efforts for the Ambassador program. The toolkit enables a review of current workplace safety and health procedures to limit the risk of COVID-19 transmission. Ambassadors will not propose citations or issue penalties. They are there to work with businesses to improve conditions and help comply with regulations on workplace safety.

Educational materials in the Ambassador toolkit can be found at Michigan.gov/COVIDWorkplaceSafety.

 

Employers and employees with specific questions regarding workplace safety and health may contact MIOSHA using the hotline at 855-SAFEC19 (855-723-3219).

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.
 

View a quick reference sheet from Consumers Energy on how they can help and other useful resources.

 
 
 
 
 

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