For Orion Township small businesses impacted by COVID-19, we have compiled a list of resources that might be helpful to you as you navigate this crisis.
SMALL BUSINESS GRANTS AND LOANS:
- NOW AVAILABLE: Paycheck Protection Program (MiPPP), small businesses can enroll in the U.S. Treasury Department’s Payment Protection Program. The PPP authorizes up to $349 billion toward job retention and certain other expenses. The program is first-come, first-served. There is a Michigan-specific website dedicated to the program that provides information on the program, a checklist and documents needed to apply, instructions on how to connect with a bank and/or finding a lender, and a budget tool to track and ensure the loan is forgiven. A sample PPP loan application has been released by the U.S. Treasury Department.
- Starting April 3, 2020, small businesses, sole proprietorships and nonprofits can apply for and receive loans to cover their payroll and other certain expenses through existing Small Business Association (SBA) lenders.
- Starting April 10, 2020, independent contractors and self-employed individuals can apply for and receive loans to cover their payroll and other certain expenses through existing SBA lenders.
- UPDATED 4/6/2020: THE APPLICATION PERIOD HAS NOW CLOSED: Oakland County Stabilization Fund for Small Businesses Impacted by COVID-19. Oakland County has created a $3 million small business stabilization fund to provide immediate help for small businesses impacted by the COVID-19 pandemic, including both grants and loans. $700,000 of the stabilization fund will be used to encourage companies to shift their manufacturing capabilities to the manufacture of personal protective equipment for hospitals and health care workers such as face mask, gowns and other needed items.
- NOW AVAILABLE: Michigan Economic Development Corporation (MEDC) will provide up to $20 million in support for small businesses negatively impacted by COVID-19. The funding is divided between $10 million in small business grants, and $10 million in small business loans. Visit michiganbusiness.org/covid19 for more information on these programs and how to apply.
- SBA Economic Injury Disaster Loan Program for COVID-19:
- ONE FAIR WAGE - Emergency Coronavirus Tipped and Service Worker Support Fund
- Patronicity Crowdfunding for Small Businesses COVID-19 Assistance; waiving fees through May 15th. Engage the community to help support your business
- The Small Business Owner's Guide to the U.S. CARES Act
- COVID-19 Business Resource Center, updated daily with real-world funding, resources, and support for small business owners adapting to the impacts of coronavirus.
ADDITIONAL RESOURCES FOR SMALL BUSINESSES: