Grants and Loans

​Provided below is a list of COVID-19 relief options offered by the U.S. Small Business Administration (SBA).

Paycheck Protection Program

This forgivable loan helps businesses keep their workforce employed during the COVID-19 crisis.

Paycheck Protection Program

COVID-19 EIDL

This loan provides economic relief to small businesses and non-profit organizations currently experiencing a temporary loss of revenue.

COVID-19 EIDL

Restaurant Revitalization Fund

This program provides assistance for eligible restaurants, bars, and other food service businesses impacted by COVID-19.

Restaurant Revitalization Fund

SBA debt relief

SBA provides a financial reprieve to existing borrowers during the pandemic.

SBA debt relief

Cross-program eligibility

A summary of the criteria to meet when considering different funding options.

Cross-program eligibility

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​Provided below is a link to The Michigan Economic Development Corporation's (MEDC) collection of grants, loans and other resources for Michigan businesses. If you have any questions or wish to speak to MEDC directly, please call 888-522-0103.

Michigan Economic Development Corporation Grants and Loans

​With the generous support of MEDC, NEI, Michigan-based foundations, corporate partners, individual donors, and in collaboration with the SBA, the Michigan Entrepreneur Resilience Fund has secured funds to provide recovery loans to diverse entrepreneurs and small businesses from underrepresented groups in Michigan. This fund is intended to assist geographically and demographically disadvantaged individuals.

• Microloans: $5,000 – $10,000 loans with a 1-3 year repayment period. Loans are fixed rate (8%), fully amortizing, term loans.
• Loan Forgiveness: Microloans that meet SBA eligibility requirements will receive loan payment forgiveness for the first six months of the loan’s term. 
  

​To learn more about past grants offered by Oakland County and to see their impact on the community, view the COVID-19 Support Map.

COVID-19 Support Map