Stock Photo | Image Source: Wikipedia.org - Credit: Kellykaneshiro
Stock Photo | Image Source: Wikipedia.org - Credit: Kellykaneshiro
More than 3,000 businesses in Michigan applied for $71 million in grants and loans to help with losses due to the COVID-19 pandemic, but only 195 businesses will share $1 million.
Grand Rapids-based economic-development group The Right Place collected $1 million from Michigan Economic Development Corp., which is a part of the Michigan Small Business Relief Program, to distribute to businesses in 11 counties, MLive reports.
“The demand for funding throughout the region was staggering with over 3,300 applications received, requesting over $71 million in both grant and loan funding,” The Right Place told MLive in a statement.
The businesses who received the awards are located in Barry, Ionia, Kent, Lake, Mason, Mecosta, Montcalm, Muskegon, Newaygo, Oceana and Osceola counties. The grants can be used for rent, mortgage, payroll, utilities and other business expenses.
Each county formed a committee to review the applications for the businesses in their area. The Right Place did not release the names of the companies who received the grants.
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