On November 13, 2020, the Michigan Department of Labor and Economic Opportunity, in conjunction with the Small Business Association of Michigan, announced they will use state funding from the CARES Act to offer $3 million in grants to small businesses. Entities such as restaurants, bars, banquet centers, retail stores and gyms can use the funds to upgrade their outdoor facilities. The grant program is in direct response to COVID-19 and the concern for business losses when the weather forces patrons indoors.
To qualify for grants of between $1,000 and $10,000 per business, entities must:
- Use the funds for the weatherization of temporary outdoor facilities, including providing structures and equipment to increase the outdoor capacity for carryout or delivery services; and
- Have 50 or fewer full-time employees.
Note that municipalities and local governments are eligible to receive up to $15,000. The application opens at noon EST on November 18. According to the Small Business Association of Michigan’s website, grants will be awarded to eligible businesses on a first-come, first-served basis with special consideration given to awarding at least 10 grants in each of Michigan’s prosperity regions. Learn more and apply.
Contact Mike Lorenz at firstname.lastname@example.org or a member of your service team to discuss this topic further.
Like what you read? Sign up to receive our latest tax, accounting and business blogs and podcasts.
Cohen & Company is not rendering legal, accounting or other professional advice. Information contained in this post is considered accurate as of the date of publishing. Any action taken based on information in this blog should be taken only after a detailed review of the specific facts, circumstances and current law.