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Covid-19 Small Business Relief Funding Awarded

In response to the immediate needs of small businesses throughout Michigan as a result of the “Stay Home Stay Safe” order, the Michigan Strategic Fund, through the Michigan Economic Development Corporation (MEDC) immediately developed the Michigan Small Business Relief program (MSBR) providing $10 million in grant funding and $10 million in loans to assist small businesses throughout the state. The funding, although far below the amount needed, was an initial response for small businesses.

The Northeast Michigan Region, as defined by the State’s Regional Prosperity Regions (comprised of all 8 NEMCOG Counties, plus Ogemaw, Iosco and Roscommon Counties) an 11-county area, received a total of $400,000 in MSBR funds to distribute throughout the region.  Two Economic Development Organizations, Target in Alpena (covering a subregion that includes Alpena, Alcona, Iosco, Presque Isle and Cheboygan counties) and the Otsego County Economic Alliance (OCEA) (covering  a subregion that includes Crawford, Montmorency, Oscoda, Otsego, Roscommon and Ogemaw counties), agreed to assist the Northeast Michigan Council of Governments with the distribution of these funds. Each of these organizations received $200,000 to provide financial relief for their respective counties. 

We extend our gratitude for both Economic Development Organizations, and in particular their Executive Directors: Lisa McComb and Mike Mahler for quickly stepping up, putting in place local review committees, submitting grant applications, establishing local criteria and then working with their review and selection committees  to award the grants. The demand was so much more than the funds provided. We applaud the   two organizations with their professionalism, expertise and ability to execute and get the grant funds to the grant awardees in amazing speed.

Otsego County Economic Alliance, Inc. received 378 applications from Crawford, Montmorency, Ogemaw, Oscoda, Otsego and Roscommon county small businesses.  With a Review Committee consisting of 6 county representatives (1 from each County) as well as the SBDC and SCORE, applications were reviewed and scored competitively with 55 small businesses awarded grant funding.   In addition, 15 applications have been advanced to the MEDC for consideration of loan funding.   Funding was distributed among each county based on county population against overall 6 county population.  Click below to view the small businesses that received grant funding.  

Created on Thursday, April 16, 2020