Grants available for small businesses effected by COVID-19
CALUMET — Main Street Calumet is working in conjunction with the Keweenaw Economic Development Alliance (KEDA) to prepare an application for $50,000 of funding from the Michigan Economic Development Corporation (MEDC), MSC Executive Director Leah Polzien said a May 18 press release. The purpose of the funding application is to secure grants to businesses in the downtown district that have been effected by the COVID-19 pandemic.
MEDC funding that can be disbursed to businesses in the Village of Calumet DDA district affected by the COVID 19 pandemic. If approved, these funds will be disbursed as $2,000 to $10,000 grants, Polzien said.
While the Main Street Calumet District does encompass property in Calumet Township, said Polzien, this funding is for traditional downtown districts only. Eligible businesses must:
• have a brick and mortar storefront,
• be headquartered in Michigan,
• have 25 or fewer employees,
• has not received or been approved to receive MSF Small Business Relief Program funding or an MEDC Match on Main grant within the last 24 months.
Grants may be used by the business for:
• working capital to support payroll expenses,
• mortgage payments,
• utility expenses,
• COVID-19 relief or recovery expenses,
• or other similar expenses that occur in the ordinary course of business.
Additional needs that are identified by the business, and supported by the local community, will also be considered, Polzien said.
MEDC funding is through a program, Match on Main – COVID-19 Response Program, which temporarily expands the MEDC’s Match on Main Program, and will provide up to $50,000 to local downtown management organizations to administer to eligible small businesses located in traditional commercial districts, including downtowns, neighborhood and commercial districts, or areas planned and zoned for concentrated commercial development, according to the MEDC.
This program serves as a tool for local units of government, Downtown Development Authorities, or other downtown management organizations that desire to support place-based businesses located in their traditional commercial districts by providing grant funding to eligible businesses in response to the COVID-19 crisis.
The community application must be submitted to the MEDC by May 29, with funds available by June 10, 2020, if successful, said Polzien. If funding is received from the MEDC, it will it will be disbursed to each business that participated in the application. There is a total of $1,000,000 in funding to be disbursed to communities across the state.”
Business owners interested in being part of Calumet’s application for the funding, please have the application form rilled out and returned by the end of the business day, Friday, May 22.
If small business owners interested in being part of Calumet’s application for this funding, please complete the attached form and return by the end of day Friday, May 22.
Questions about the release and a request for applications can be directed to firstname.lastname@example.org.
Main Street Calumet is a community-based non-profit in Calumet, Michigan. We support preservation of historic buildings and invest in local pride. We host a variety of new and innovative events, and through our partnerships with local and regional economic development organizations, we promote business development and retention in Calumet and the surrounding area.
Keweenaw Economic Development Alliance (KEDA) is the private, 501c3 non-profit local economic development organization serving the Baraga, Houghton, and Keweenaw County Region. KEDA is currently staffed by an executive director and a contracted membership and small business development coordinator. KEDA is supported by over 250 businesses, local governments, organizations and individuals.