January Grant Opportunities that target small businesses, restaurant workers and other impacted industries
By Simon Albaugh – Yemeni American News
In the wake of another lockdown and spike in COVID-19 cases, the state and federal governments have rolled out new rounds of economic grant opportunities for 2021. Some are specifically targeting the restaurant and hospitality industry, while others either focus on small businesses, or more niche industries.
Back in spring of 2020, economic forecasters were calling the results of a pandemic the signs of an impending recession, with coronavirus only making the situation worse. Now that COVID-19 has proven to be a lasting influence in American’s spending power, industries all over the country have felt the impact of an economic downturn.
But certain businesses have been uniquely struggling as a result of the Coronavirus Pandemic. Restaurants, hospitality and entertainment have all been among the hardest-hit industries. For those whose livelihood is dependent on these, and other impacted industries, here are some of the grant opportunities that could offer large awards.
Michigan Small Business Survival Grant
Who is eligible?
This is among the widest-ranging grant opportunity for small businesses with less than 101 employees. According to the Michigan Economic Development Corporation, any business that can demonstrate experiencing a significant impact due to Coronavirus measures can be eligible for this grant. Specifically, food service, retail, exercise facilities, nonprofits, personal care services and childcare and summer camps are eligible.
For a complete list of eligible industries, go to the Michigan Economic Development Corporation website.
How much is the grant worth?
For businesses that have been temporarily closed as a result of the COVID-19 pandemic, the award can be worth up to $20,000. Businesses that have partially closed as a result of the pandemic can be eligible for up to $15,000. Funds are awarded between Jan. 29 and Feb. 28, 2021.
How does someone apply?
Only applications submitted online through the Michigan Economic Development Corporation will be considered. Applications begin today and continue until noon on Friday, Jan. 22. The grants are not first come, first serve – Meaning that every business that applies will have their application reviewed before a decision is eventually made.
MRLAEF Employee Assistance Grants
Who is eligible?
This grant is specifically meant for employees who work in eligible hospitality industries, including restaurants, hotels, bars and coffee shops, bowling alleys casinos and banquet halls. For a full list, visit the Michigan Restaurant & Lodging Association Educational Foundation website.
How much is the grant worth?
For individual employees, this grant can offer up to $1,650. According to the MRLAEF website, “the award is taxable income but will not impact your unemployment payments if you are receiving them.”
How does someone apply?
The deadline for applying to receive the Employee Assistance Grant is Jan. 25, 2021 at 5:00pm. Like the Small Business Survival Grant, this is an online-only application that can be found on the grant webpage. You’ll need to provide personal information such as name, address, social security number and date of hire. Also required is employer information and proof of employment, detailed on the grant webpage.
Another Round of the Paycheck Protection Program
Who is eligible?
A small business of less than 500 employees is eligible for either a first draw or a second draw from the Paycheck Protection Program loan. Even for a second draw, the rules are similar in that business can have their loan forgiven if the funds are spent on eligible costs such as payroll costs and business-related expenses. For a second draw, the Small Business Administration says that significantly-impacted businesses with less than 300 employees are generally eligible.
How much is the grant worth?
For the first draw, the loan is set at 2.5x the average monthly payroll cost of 2019 or 2020. Second draws for food service businesses are eligible for up to 3.5x the average monthly payroll cost of 2019 or 2020.
How does someone apply?
In an effort to reach more small businesses, the Small Business Administration has authorized lenders around the country to process the applications. For a list of local lenders, visit the paycheck protection program webpage. Applications are currently being processed until Mar. 31, 2021.
Michigan Stages Survival Grant Program
Who is eligible?
Live music and Entertainment venues that are only located in Michigan and provide live, disciplined-based performance experiences may be eligible for this grant. Eligible venues cannot employ more than 30 full-time employees, and must show that at least 33% of ticket revenue, or 70% of other revenues have been lost as a result of the pandemic.
How much is the grant worth?
The award must be used for payroll costs, rent, utility or other expenses related to reopening the business. Up to $40,000 will be awarded to selected businesses and be dispersed after Feb. 28, 2021.
How does someone apply?
Beginning Jan. 21, 2021 and ending Jan. 28, eligible businesses can apply directly on the Michigan Economic Development Corporation website. However, in order to apply a business must first register with the State of Michigan Integrated Governmental Management Application (SIGMA), which can be found at michigan.gov.
