We’ll still update this page as more sources become readily available. If you have questions or wish to talk with MEDC straight, kindly phone 888.522.0103.
COVID-19 publication keep current on important information pertaining to small business relief tools for COVID-19.
COVID-19 Funds & Information for Michigan Companies
Restaurant Revitalization Fund
The American relief strategy work set up the Restaurant Revitalization investment to provide financing to greatly help dining as well as other eligible enterprises keep their own gates available. This product offers restaurants with funding equal to their own pandemic-related money loss to $10 million per companies with no a lot more than $5 million per real place. Subscription starts April 30, 2021 with all the software orifice on May 3.
Michigan SBDC Come Back Equipment
The reappearance package is made for Michigan small businesses who will be attempting to keep coming back from effects and effects of the pandemic. This reading component can help small businesses to judge her financials, understand where they are nowadays, and identify what they need to-do for far healthier tomorrow.
Paycheck Shelter Plan
The Paycheck cover system (PPP) produces loans to simply help enterprises hold their unique employees used throughout the COVID-19 crisis. The U.S. home business Administration try using steps making use of income defense plan to help expand promote fair relief the minuscule small businesses.
Personnel Preservation Taxation Credit (ERTC)
The interior sales Service urges employers to use the newly-extended worker preservation credit score rating, designed to make it more comfortable for companies that, despite challenges posed by COVID-19, choose to hold their employees from the payroll.
MI Symptoms are a totally free appliance that helps companies, education, and other businesses across Michigan quickly follow sign screening specifications while keeping their businesses safe. Staff, college students, and customers simply take day-to-day online surveys on which signs and symptoms they’re experiencing, and managers can instantaneously verify that any people are at-risk for COVID-19 and additionally grab company symptom research benefit research.
COVID-19 Workplace Security Recommendations
Pick worker place of work security means like posters, video, fact sheets and field specific specifications, also formula and info from MIOSHA.
Governor Gretchen Whitmer’s MI Safe Start strategy outlines how Michigan will begin to re-engage while continuing keeping our forums secure. Re-engagement may happen in levels and those businesses that are necessary to protect and uphold lifestyle are actually open.
PMBC COVID-19 Procurement Program
Help next-door neighbors in need of assistance while helping generate new customers within Michigan. This system will help resource PPE components for businesses re-opening following the COVID-19 outbreak.
A trio of Bay condition pols continuing her crusade to terminate around $50,000 of national education loan personal debt ran into weight on Tuesday from experts whom warned a widespread wipeout could finish benefiting additional well-off individuals.
U.S. Sen. Elizabeth Warren, U.S. Rep. Ayanna Pressley and condition Attorney standard Maura Healey once again called on chairman Biden to utilize their executive authority to broadly terminate education loan debt because they affirmed during a Senate subcommittee reading Warren chaired on Tuesday.
“America are dealing with a student loan time bomb that, when it explodes, could place countless people over an economic cliff,” Warren said, keeping in mind roughly 43 million Americans are obligated to pay significantly more than $1.7 trillion in college loans.
Pressley stated wide termination could well be “one of the very most effective steps” to combat the nation’s pandemic-induced overall economy.
But U.S. Rep. Byron Donalds, R-Fla., who’s repaying figuratively speaking themselves, blasted their unique force as a “political ploy supposed to keep Democrats in electricity.”
Dominique Baker, an assistant degree policy professor at Southern Methodist University, mentioned the racial disparities in education loan repayment, citing exactly how 4% of white graduates defaulted to their debts when compared with 21% of Ebony graduates.
However Constantine Yannelis, an University of Chicago associate funds professor, stated wide forgiveness “is maybe not the way to shut” the racial wealth space, noting it could price $1.7 trillion to shrink the gap by 3percent.