FOR IMMEDIATE RELEASE
Thanks to funding made available through the Michigan Economic Development Corporation (MEDC), three local area economic development organizations were able to provide $200,000 in small business relief grants to 169 businesses in Clare, Gladwin, Gratiot and Isabella counties.
As we continue taking critical steps to flatten the COVID-19 curve, small businesses are among the most severely impacted by these protective measures. “The Michigan Small Business Relief Program is one of the ways we are leveraging every resource available to provide relief in the face of the negative impacts COVID-19 is having on businesses across the state,” said Josh Hundt, Chief Business Development Officer and Executive Vice President at the Michigan Economic Development Corporation. “We are proud to work with our partners at Middle Michigan Development Corporation to bring these critical resources to small businesses in Mid-Michigan.” Middle Michigan Development Corporation worked in partnership with Greater Gratiot Development, Inc. and Gladwin County Economic Development Corporation to review and approve grant applications.
Five-hundred and fifty-eight (558) applications were received across the four-county region. Each application was scored based on guidelines set by the MEDC including the company’s working capital needs, employment numbers, status of employees, severity of impact from Executive Order 2020-20 and subsequent executive orders, and overall impact on the local community.
Among the 558 applications received, numbers for each county are broken down as follows:
- Clare: 102 submitted, 20 funded, $37,000 awarded with an average grant amount of $1,850 given per business
- Gladwin: 87 submitted, 20 funded, $30,000 awarded with an average grant amount of $1,500 given per business
- Gratiot: 124 submitted, 79 funded, $49,000 awarded with an average grant amount of $620 given per business
- Isabella: 245 submitted, 50 businesses funded, $84,000 awarded with an average grant amount of $1,680 given per business
“We hope this funding provides some immediate relief to those businesses in our communities that have faced significant hardships as a result of the COVID-19 outbreak,” states James McBryde, President and CEO of Middle Michigan Development Corporation (MMDC). “Ultimately, this program was designed to assist businesses maintain rent, utilities, and payroll while waiting for other funding opportunities to become available.”
MMDC, along with Greater Gratiot Development Inc. and the Gladwin County Economic Development Corporation, will continue to collaborate with local, state and national partners on programs to provide additional relief and support to our area's small businesses.
A statewide list of businesses that received grant funding from the Small Business Relief Program will be made available soon through the MEDC on their website.