Resources for Businesses (COVID)

Resources for Businesses (COVID)

Update
April 17, 2020: Crain's Business Detroit published an article today regarding business payments and announced that they are on hold.  Please see the full article below:

PayCheck Protection Funds On Hold

For the most up-to-date information on resources for businesses, please visit the Northville Chamber of Commerce's website at northville.org.

Wayne County's Small Business Relief Loan Program Has Been Expanded and Submission Deadline Extended to June 30th 

Wayne County has added an additional $4,000,000 to the Small Business Loans available to local communities for COVID-19 losses. Money is now available to businesses in our community and no longer limited to low income communities. The application for these loans has been extended to June 30th. If you are interested contact TCF bank at the site listed below. The information currently lists that the loans are for low income communities only, but will be updated soon.

Visit waynecounty.com/economicdevelopment for more information and visit tcfbank.com/waynecounty to apply for the loan.


MI-STEP Increased grant funding:
MI-STEP grant reimbursements have increased from $3,000 to $6,000 annually for website localization and improvement requests related to company promotion in a foreign market. Website localization costs are also now eligible for up to 75% reimbursement, up from 50%, now through 9/30/2020.


Redevelopment Ready Communities (RRC):  The updated RRC map is attached – current as of March 30, 2020.


Online Business Development Tools Webinar Series: MEDC has teamed up with IBT Online to share expertise on grants and funding for online business development tools to help companies reach global markets during these times of social distancing. Companies are invited to join these two FREE webinars to learn more:

  • Business Development WebsitesThursday, April 16 at 10:30AM. In this webinar, experts will discuss optimally localized business development websites to be easily found in their target markets. David Yancho, VP of Michigan-based Armor Protective Packaging, will tell his Michigan Online Global Programs success story in Canada, Mexico, China, and India.
  • Business Development Online MarketingThursday, April 30 at 10:30AM. This webinar focuses on marketing channels and the power of social media to reach international buyers as well as applying different strategies for different markets.


 
 Michigan Paycheck Protection Program

The Michigan Paycheck Protection Program website was launched as a collaboration between the Small Business Association of Michigan, Michigan Association of Certified Public Accountants (MICPA), the Michigan Economic Development Corporation and the Michigan SBDC and includes key eligibility information, videos and instructions to help with the application process, information on authorized SBA lenders and more.

Michigan small businesses (per SBA size standards) – including hospitality and food industry businesses and sole proprietorships, independent contractors and self-employed persons – are eligible to apply for loans to help ensure employees continue receiving paychecks. The Paycheck Protection Program loans are designed to provide a direct incentive for small businesses to keep their workers on the payroll and may be forgiven if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.

The Paycheck Protection Program loans will be awarded on a first come, first serve basis with funding caps in place, so the state is encouraging Michigan small businesses to apply early – with the application period for small businesses opening today, April 3 and for independent contractors and sole proprietors on April 10 – and to utilize the Michigan Paycheck Protection Program website to make the process as streamlined and as simple as possible.

https://www.paycheckprotectionprogrammichigan.com/

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Congresswoman Stevens Business Resource Guide Information

Congresswoman Stevens put together a 
Business Resource Guide and wants to be sure you have this information available to share with businesses and constituents in your community.

This document contains information about the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was passed on March 27, 2020. The CARES Act allocates more than $375 billion for small business support and $260 billion for unemployment. The guide will also make it easier for you to find local, state, and federal resources to weather this period of uncertainty. I hope you and your employees find this resource helpful.

Additionally, the Congresswoman has a thorough overall list of COVID-19 resources on her website, available here:
https://stevens.house.gov/coronavirus


COVID Resources from Wayne County

Below is a list of resources and information for local businesses during and in the aftermath of the COVID-19 (Coronavirus) outbreak from Wayne County. 


Local Resources
Wayne County Small Business Relief Loan Fund
Health Choice Affordable Healthcare for Small Businesses and their Employees
Michigan Small Business Relief Grant

State Resources
Michigan Resources for Employers and Workers
Treasury: Small Business Taxpayers Provided Tax Assistance
MEDC COVID-19 Resources
Michigan SBDC COVID-19 Resources
State of Michigan's Corona Virus Resources
Small Business Association of Michigan Corona Virus Resources

Federal Resources
The Small Business Administration's Guidance for Businesses and Employers to Plan and Respond to Coronavirus
U.S. Chamber Coronavirus Resources and Coronavirus Response Toolkit
U.S. State Department Travel Guidelines
DoL Guidance for Preparing your workplace for COVID-19
CDC Guidance for Businesses and Employers
SBA to Provide Disaster Assistance Loans for Small Businesses Impacted by Coronavirus


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Consumers Energy Small Business Relief

1) Small Business Relief Program Grants and Loans issued by MEDC Strategic Fund
2) SBA Loans
3) CARES Act Resources
4) Become a Consumers Energy supplier through Pure Michigan Business Connect
5) MEDC Virtual Supplier Summit for COVID-19 supplies and services