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To date, more than 130 bank loan totaling more than $8 million have been approved through MSF entrusted approval. The Michigan Strategic Fund today likewise authorized the $15 million Michigan Agricultural Security Grant Program to support the requirements of Michigan's farming processors and farms. small business michigan sterling heights. The program supports the implementation of COVID-19 monitoring and mitigation techniques to safeguard farming staff members and the state's total food production market.
With today's action by the MSF Board, the MEDC has actually released 17 COVID-19 relief and healing programs supporting more than 3,100 organisation in the state and assisting to maintain more than 12,400 tasks throughout all 83 counties. To read more about MEDC's COVID-19 action programs and the effect they are having on financial healing efforts, see michiganbusiness.org/covid19response.
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The MEDC has likewise established a FAQ for Michigan services and communities at michiganbusiness.org/covid19-faq. Info around this break out is altering rapidly (business michigan sterling heights). The latest information is offered at Michigan.gov/ Coronavirus and CDC.gov/ Coronavirus. The Michigan Economic Advancement Corporation is the state's marketing arm and lead advocate for company development, job awareness and neighborhood advancement with the concentrate on growing Michigan's economy.
MichiganBusiness.org. For Pure Michigan tourism information, your journey starts at www.michigan.org. Sign up with the conversation on: Facebook, Instagram, LinkedIn, and Twitter. 2020 CBS Broadcasting Inc. All Rights Scheduled. This product might not be released, broadcast, rewritten, or redistributed.
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- Southwest Michigan First, the regional economic development driver based in Kalamazoo, today revealed 144 small company grant receivers from Southwest Michigan are receiving allotments as part of the state's Michigan Small Company Relief Program. Grants may be used by receivers for working capital to support payroll expenditures, lease, home loan payments, utility expenses or other similar expenditures that take place in the common course of service.
The seven-county Southwest Michigan area received $800,000 to be administered among businesses situated throughout Berrien, Branch, Calhoun, Cass, Kalamazoo, St. Joseph and Van Buren counties. Financing allotments were based on the concentration of eligible little organisations within each county. The typical grant award was $5,555. "The Michigan Small Company Relief Program is one of the methods we are leveraging every resource readily available to offer relief in the face of negative effects COVID-19 is having on organisations across the state," said Josh Hundt, Chief Organisation Advancement Officer and Executive Vice President at the Michigan Economic Development Corporation.
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" We understand small companies throughout our state are dealing with unmatched difficulties as we take every step possible to mitigate the spread of COVID-19," stated Guv Gretchen Whitmer. "Through decisive actions like [these] taken by the MSF Board to authorize relief for little organisations throughout Michigan, we are leveraging every resource offered to support our companies, communities and business owners around the state affected by this outbreak." To administer the funds, Southwest Michigan First and representatives from Foundation Alliance, Fight Creek Unlimited, Marshall Area Economic Development Alliance, Albion Economic Advancement Corporation, Market Van Buren and the City of Coldwater gathered completed applications.
" These dollars will have an instant influence on the health of the companies who have gotten grants and loans. The MEDC funds also ease the problem on the business and banks, permitting them both to assign resources elsewhere. small business michigan sterling heights." "Organisations in Berrien County and throughout Southwest Michigan are experiencing unmatched hardship due to the fact that of COVID-19 and from executive steps taken to help in reducing the spread of the infection," said State Senator Kim LaSata, R-Bainbridge Township.