Economic Recovery Grants Available In Oakland County

Troy MI

13 July, 2020

10:57 AM

Description

OAKLAND COUNTY, MI — Oakland County retail stores, restaurants and personal service businesses such as salons and fitness centers impacted by the coronavirus pandemic can apply beginning Monday for part of the $32 million Oakland Together Small Business Recovery Grant fund. The grants — which range from $2,500-$10,000 — help provide capital to support payroll expenses, rent, mortgage payments, utility expenses or other similar ones that occur in the ordinary course of business. The funds come from Coronavirus Aid, Relief, and Economic Security (CARES) Act money allocated to Oakland County by the federal government. "We know that many of our small businesses have reopened but the losses they suffered while they were closed or operating at reduced capacity are significant and continue to threaten their viability," Oakland County Executive David Coulter said. "We want to do all we can to help them recover and continue to provide the goods and services that are so important to our residents." Don't miss important updates from health and government officials on the impact of the coronavirus in Michigan. Sign up for Patch's daily newsletters and email alerts. In June, Coulter requested the county Board of Commissioners allocate $32 million to create the recovery grants. The board unanimously approved the request, with $30 million of the allocation earmarked for small businesses. Only businesses that operate a physical location in Oakland County are eligible to receive grant funds through this program. Applications are accepted online here, which also describes the program in detail and lists the type of eligible businesses. The deadline to apply is August 24. Award determinations will be made about every two weeks until the deadline, the county said. The funds are intended to support for-profit businesses with 100 or fewer employees that suffered actual or anticipated losses from March 2020 through July 2020 due to the pandemic.