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State offers grants for small businesses but more aid needed

In this time of COVID-19 pandemic precautions and shutdowns, the Michigan Strategic Fund has authorized $10 million in grants to help small businesses across the state that rely heavily on people actually visiting their store, shop or venues in number.

The Pure Michigan Small Business Relief Initiative will utilize some of the state’s federal CARES Act funding to provide $10 million in grants to meet the urgent need of Michigan small businesses that were disproportionately affected by the COVID-19 virus.

Grant funds of up to $15,000 will assist eligible businesses in meeting urgent working capital needs, including payroll expenses, rent or mortgage payments and utility expenses in these industries:

— Restaurants, bars and other food and beverage service providers;

— Travel and tourism destinations, including lodging providers and hospitality businesses;

— Live event venues and movie theaters;

— Conference and meeting facilities;

— Ice skating rinks, indoor water parks and bowling centers;

— Gyms, fitness centers and indoor recreation facilities.

While it will provide some short-term assistance, $10 million likely won’t go far given the need. InvestUP CEO Marty Fittante stressed the funding was available on a first-come first-serve basis, with applications to be taken beginning at 9 a.m. Eastern time Tuesday, Dec. 15.

For full details on the grant initiative, including eligibility requirements, go online to https://www.michiganbusiness.org/about-medc/covid19/relief/

“With the continued impacts of COVID-19 pandemic on the business community across the U.P. this funding is as appreciated as it is helpful,” Fittante said. “But it is critical that eligible businesses in the U.P. understand that this funding is first-come, first-serve, and will not come near satisfying the need that will exist. So, U.P. businesses need to be prepared, be persistent and act immediately.”

It also points up the desperate need for a new round of federal COVID-19 aid to be in place before the end of the month, when several existing relief measures from the CARES Act are set to expire.

The White House, leaders in the Senate and House and a bipartisan group of lawmakers all appeared still far apart Thursday on getting a new deal ready for a vote, even as they vowed not to adjourn without passing an aid measure.

Let’s hope they can be trusted at their word. Given the bickering and posturing in Washington even as the year winds down, it’s not easy to see the stalemate being resolved soon.

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