As small businesses and non-profit organizations continue to grapple with the impacts of the COVID-19 pandemic, the Michigan Small Business Restart Program is designed to provide grant funding to business through local partners like Oakland County’s Economic Development and Community Affairs division. These grants will provide up to $20,000 to eligible small businesses that have been negatively impacted by COVID-19 and need working capital to support payroll expense, rent, mortgage payments, utility expense or other similar expenses. This grant program is derived from the Michigan Economic Development Corporation (MEDC) with funding from federal CARES Act allocation to the State of Michigan.
Applications were due to MEDC by August 5, 2020 and are now closed. Oakland County Economic Development and Community Affairs will reach out to all applicants via email on August 6th to share information about the review process and will continue to communicate with applicants on a weekly basis about the status of their application. Please know the Restart Program is a competitive grant program and not all applicants will receive a financial award.
Restart Grant Requirements
All small businesses/organizations who will be considered for the Michigan Small Business Restart grant through Oakland County Economic Development must meet the following requirements:
- Can demonstrate it was negatively impacted by the COVID-19 pandemic.
- Needs working capital to support payroll expenses, rent, mortgage payments, utility expenses or similar expenses.
- Can demonstrate an income loss as a result of the COVID-19 pandemic.
- Had 50 or fewer employees as of March 16, 2020 and as of the date of their application submission.
- Operates a business/organization in Oakland County.
Applications will be reviewed and evaluated based on the following
- Previous grant support from Oakland County and other granting entities.
- Demographic considerations including minority-, woman- and veteran-owned businesses.
- Number of employees and if the company pays a living wage of at least $15/hour.
- Amount of years in business.
- Impact of COVID-19 on revenue.