COVID-19 Update
The past two weeks have represented an unprecedented and rapidly evolving time in Michigan and around the world. This week, Governor Whitmer announced critical steps in efforts to “flatten the curve” of the COVID-19 outbreak here in Michigan by signing Executive Order 2020-21. Out of primary concern for the health and safety of all Michiganders, Executive Order 2020-21 orders the closure of all businesses to the extent its workers are necessary to sustain and protect life, effective at 12:01 a.m. on March 24, 2020 extending through at least April 13, 2020. The order also directs Michigan residents to stay home unless they are a part of that critical infrastructure workforce or an “essential” business.
In compliance with this order, the MEDC building closed onsite operations on March 24 and all MEDC staff – with the exception of a few select employees performing essential functions – are working remotely through April 13. The MEDC continues to be open for business and we remain as committed as ever to providing high levels of customer services while enabling economic opportunity for Michigan residents.
During this time, the MEDC will also be working to prioritize and adjust existing projects to focus on opportunities that support existing small-and medium-sized businesses, provide affordable housing, and generally support business recovery efforts directly in the coming months. This effort will remain consistent with the guiding principles of our Strategic Plan and a commitment to resiliency, equity, and regional impact as we deploy resources.
We support Governor Whitmer’s decisive and necessary actions to limit the spread of COVID-19 throughout Michigan and stand ready to address or answer any questions or concerns you may have in the coming days and weeks.
U.S. Small Business Administration statewide Economic Injury Disaster Loan
Small businesses around the state have a growing number of resources available to assist them in recovering from economic losses as a result of the COVID-19 virus. The most recent support came from the U.S. Small Business Administration statewide Economic Injury Disaster Loan (EIDL) declaration, requested earlier this week by Gov. Gretchen Whitmer, with the support of the MEDC and Michigan Small Business Development Center.
The EIDL designation means that Michigan small businesses, small agricultural cooperatives, and nonprofits that suffer substantial economic losses as a result of the COVID-19 outbreak will now have the ability to apply for low-interest loans as part of $1 billion in funding made available to the SBA by Congress earlier this month.
The application for disaster loan assistance is available at https://disasterloan.sba.gov/ela/. For more information about federal disaster loan assistance, visit https://disasterloan.sba.gov/ela/Information/Index. For businesses looking for more information on how to apply for an SBA EIDL loan or whether it is something they should consider, visit michiganbusiness.org/covid19.
Michigan Small Business Relief Program
The Michigan Strategic Fund recently authorized the funding of the Michigan Small Business Relief Program, which will provide up to $20 million in grants and loans to support businesses facing drastic reductions in cash flow and the continued support of their workforce.
The program authorizes the MEDC to provide up to $10 million in small business grants and $10 million in small business loans to support businesses facing drastic reductions in cash flow and the continued support of their workforce.
The MEDC anticipates that at least 1,100 businesses across the state will benefit from this program. The Michigan Small Business Relief Program will be a top priority for the MEDC, with funds being available no later than April 1, 2020.
Details on eligibility are available here, with additional information on how to apply coming soon.
Virtual procurement and donation platform connects health and human services organizations, local municipalities with suppliers of critical products and services
The MEDC launched a new free, statewide online procurement and donation platform through its Pure Michigan Business Connect program for buyers and suppliers of critical health and human services across a broad range of categories, including local municipalities, to minimize the impact of the virus in the state. The platform will allow health and human service providers across Michigan in need of critical supplies to connect with vetted Michigan businesses and municipalities able to provide or donate goods and services.
Buyers that could benefit from the virtual platform include childcare facilities, community centers, educational institutions, healthcare facilities, municipalities, food distribution centers, homeless shelters, non-profits and more. Items to supply could include medical devices, pharmaceuticals, cleaning supplies, testing supplies, textiles, paper products, vitamins, water and more.
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Additional resources available online
Access additional resources by visiting michiganbusiness.org/covid19.
Visit Main Street America or Michigan Municipal League for a compiled list of resources, webinars and community response examples to help communities during this crisis.
Visit Michigan.gov/coronavirus for valuable resources for employers and workers, to sign up for regular COVID-19 updates and to stay informed on the Governor’s latest efforts to mitigate the impact of the virus on our state’s residents and economy.
Information around this outbreak is changing rapidly. The latest information is available at https://www.michigan.gov/Coronavirus and https://www.cdc.gov/coronavirus.
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