COVId-19

Small Business Resources

Here at 100K Ideas, we pride ourselves in our role to assist small businesses in our community. Due to the spread of COVID-19, we have seen many local businesses affected. As a resource connector, we have compiled a list of supports for small businesses to help them get through this time. We will continue to keep this list updated as more information becomes available.

https://www.michigan.gov/coronavirus

  • The State of Michigan's Page on the latest news, updates, and press releases in regards to COVID-19

 


https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program

  • Applications are now open again, as of Monday, April 27th, for small businesses in regards to the Paid Protection Program Loan. This loan from the SBA can be used to help keep staff employed during this time. More details and applications are available in the link above! 

http://miwf.org/mwf-entrepreneur-resilience-fund/

  • The Michigan Economic Development Corporation (MEDC) partnered with Michigan Women Forward today in announcing the creation of the $1.5 million Michigan Entrepreneur Resilience Fund to help entrepreneurs and small businesses negatively impacted by COVID-19 recover from the outbreak, as well as assist them in meeting increased demands in support of COVID-19 response efforts.

https://www.metrocommunitydevelopment.com/business-lending

  • $2 million was approved for Metro Community Development Inc. in Flint to provide micro- and small business loans to Michigan businesses that have been most impacted by the COVID-19 outbreak. These funds can be used to provide loans ranging from $5,000 to $250,000 for working capital, acquiring machinery and equipment and to support inventory needs during this public health crisis. Businesses can apply through theBizTHRIVE program link on Metro Community Development’s website, linked above.

https://www.flintandgenesee.org/coronavirus-resources-for-employers-and-businesses/restart-flint-genesee/

  • Restart Flint & Genesee is a special recovery program from the Flint & Genesee Chamber assisting small businesses in Genesee County that have suffered economic distress because of the COVID-19 pandemic. Established with a $200,000 grant from the Consumers Energy Foundation, the program will award grants of up to $5,000 to cover expenses associated with reopening a business under guidelines and requirements for social distancing and safety of clients/customers.

https://patronicity.s3.amazonaws.com/static/SponsorLogos/medc-lo-biz/MI+Local+Biz+Application+Guide_2020FINAL.pdf

  • In response to the COVID-19 crisis, The Michigan Economic Development Corporation, in conjunction with the Detroit-based crowdfunding platform, Patronicity, has developed “MI Local Biz”, a creative funding mechanism to offer quick access to capital for small local businesses in this great time of need. The MEDC will match crowdfunding raises on a 1:1 basis up to $5,000 for eligible small businesses experiencing economic challenges as a result of COVID- 19.

https://www.miplace.org/small-business/

  • Michigan's small businesses are a vital part of the state's economy employing more than 1.8 million people. Helping businesses to open and grow is a key focus of MEDC and state government, as well a wide variety of other partners across the state.

https://www.forbes.com/sites/briannegarrett/2020/03/20/small-business-relief-tracker-funding-grants-and-resources-for-business-owners-grappling-with-coronavirus/#1f5c8468dd4c

  • The Michigan Economic Development Corp. (MEDC) has created a small business relief program. This program will allocate $20 million in small business grants, as well as loans to local owners. 

  • Major companies are also willing to do their part, as they will not be affected like smaller businesses. Amazon, Facebook, JPMorgan, and more, are pledging several millions of dollars in aid to nonprofits and small businesses. . 

 

https://sbdcmichigan.org/small-business-covid19/

  • Michigan’s SBDC (Supporting Small Businesses During COVID-19) offers up a list of frequent questions and answers to those who need it. The list ranges from how/when to approach the bank if your business is starting to suffer to when/what to pull back during this pandemic.

https://www.michiganbusiness.org/about-medc/covid19/ 

  • Michigan is allocating $20 million to suffering businesses, it will be split up $10 million for grants and $10 million in loans. These funds are expected to be available April 1, 2020. Federal support will be given through the U.S. small business administration. The MEDC also offers procurement assistance to aid businesses source health and human supplies, capital access programs to generate lender financing for small businesses, they offer personalized support. Check out the link for terms and eligibility.

https://www.facebook.com/business/boost/grant 

  • Facebook is one of many large companies taking action to help out small businesses globally during this time. They are offering more than $100M in grants and ad credits in more than 30 countries where they are operating. In the coming weeks applications will begin. Sign up for the email updates in the link above!

https://www.rd.usda.gov/sites/default/files/USDA_RD_SA_COVID19_ProgramImmediateActions.pdf

  •  Single-family housing that have documented hardship can have payments reduced or suspended for up to 12 months. As things return to normal throughout the economy and the hardship is resolved, payments that were missed must be paid back based on circumstances. There are more opportunities for immediate relief in the above link. 

 

https://mailchi.mp/5819d8715c13/michigan-women-were-here-to-help-489998?e=a3dee233e6

  • “Michigan’s women-owned businesses and women entrepreneurs need you now more than ever”.  Michigan Women Forward is taking donations to provide micro-loans to the women who are experiencing suffering due to COVID-19. Click the link about to donate or speak to a loan officer.

https://www.michigan.gov/documents/uia/160_-_Claiming_UI_Benefit_In_Michigan_-_Jan2014_444213_7.pdf

  • A fact sheet about unemployment provided by the State of Michigan.

https://www.michigan.gov/leo/0,5863,7-336-78421_97241---,00.html

  • Application for unemployment insurance benefits through the State of Michigan.

https://www.flintandgenesee.org/economic-development/entrepreneurial-services/

  • The Flint and Genesee Chamber of Commerce are offering Entrepreneurial Services, as well as a Small Business Revolving Loan Fund. The Services allow you to experience all the opportunities we have to offer in Flint & Genesee County to take your ideas and business to the next level. The funds can be used for building improvements, equipment, inventory and working capital. They are not a replacement for traditional loans, but are here when they do no work.

https://www.tssfund.com

  • ID Ventures and the Michigan Economic Development Corporation have gotten together to build the Tech Startup Stabilization Fund, which gives capital and support for tech startups in Michigan impacted by the COVID-19 economic crisis.

https://www.lisc.org/covid-19/small-business-assistance/small-business-relief-grants/

  •  The LISC has created the LISC Small Business Relief Grants to help small businesses affected by COVID-19. They are working with funders like Sam's Club and Verizon to offer grants in $5000, $7500 and $10000 increments. It is grant based funding for small businesses across the entire country. They are choosing who receives the funding based on need, but especially looking to work with those in underserved communities. Eligibility and applications are available in the link above.

  • They are also offering support for Non-Profits, with funding available by state at: https://www.lisc.org/covid-19/covid-resources/opportunities/

https://www.quickbase.com/smallbizhelp

  • Quick Base is providing critical resources and support to small businesses to help manage COVID-19 response, including free access through September 30 for new and existing organizations on the front lines of the crisis.

Location

Located in the Ferris Wheel

615 S Saginaw Street 

Flint, MI 48502

Business hours

Monday, Wednesday and Friday: 8:00am - 4:00pm

Tuesday and Thursday: 10:00am - 6:00pm

First Saturday of the month: 10:00am - 1:00pm

Email or call to set up an appointment outside our listed hours!

Contact

810-213-4720

hey@100kideas.org

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