Economic Relief Task Force (COVID-19)
Cornerstone Alliance has created a task force to connect local businesses with resources that will be made available by local organizations, as well as the state and federal government. The Michigan Economic Development Corporation, the Small Business Administration (SBA), as well as local funds from Cornerstone Alliance are being made available to help small businesses navigate the economic impact of the COVID-19 pandemic. Details on all of these programs can be found below. Additional information and updates will be posted to this page, as well as the Cornerstone Alliance Twitter feed and Facebook page.
MEDC Michigan Small Business Relief GRANT Program
The Michigan Small Business Relief Program approved today authorizes the MEDC provide up to $20 million in support for small businesses. The funding is divided between $10 million in small business grants and $10 million in small business loans to support businesses facing drastic reductions in cash flow and the continued support of their workforce.
The $10 million in grant funding will be provided to local or nonprofit economic development organizations throughout the state to provide grants up to $10,000 each to support certain small businesses that have realized a significant financial hardship as a result of the COVID-19 virus.
To be considered for these grant funds, please fill out this survey.
MEDC Michigan Small Business Relief LOAN Program
Additionally, the program authorizes the MEDC to provide up to $10 million for small business loans to one or more Community Development Financial Institutions (“CDFI”) or a licensed SBA not-for-profit institutions (“Eligible SBA Non-Profit”), or directly from the MSF to eligible borrowers to be used to provide low-interest loans with flexible repayment terms to support certain small businesses statewide that have realized a significant financial hardship as a result of the COVID-19 outbreak. Loans to eligible borrowers must be $50,000 or more and are capped at $200,000.
To be considered for these loan funds, please fill out this survey.
SBA Disaster Loan Assistance
Governor Gretchen Whitmer's request for statewide Economic Injury Disaster Loan declaration was approved by the SBA on March 19, 2020. This establishes access to low-interest loans for small businesses have negatively impacted by COVID-19. To apply, you can locate the online application here. If you prefer to submit your application by mail, please print, complete and return your application. Need help completing the SBA application? This YouTube video gives step-by-step details.
SBA Microloan Program
Manufacturing or Donating Personal Protection Equipment (PPE)
If your business has the ability to manufacture or donate personal protection equipment to those responding to the coronavirus pandemic, you are encouraged to visit the Pure Michigan Business Connect Portal (here) for guidance on supplier, donator and procurement needs.
On March 23, 2020, Governor Whitmer issued a shelter-in-place order for the State of Michigan. Michiganders are required to stay home, with the exception of essential service workers. If you are either an essential services employer or critical lifeline company, you are exempt from the shelter-in-place protocol.
Guidance for Individuals to determine if they can leave home.
Guidance for Businesses to determine who can perform in-person work.
Here is the most recent guidance from Berrien County, the State of Michigan and the SBA.
Berrien County Economic Support Questionnaire - if your business has been negatively impacted, there could be additional funds available from FEMA. Visit this site to complete a short survey detailing the impact of Executive Order 2020-09.
Has your business experienced a loss due to the COVID-19 pandemic? Do you want to be kept up-to-date on information and programs provided by the state and federal governments? If so, complete this brief survey about your business and our team will get back to you quickly.
The Microloan Program and Women’s Business Center are funded in part through a cooperative agreement with the U.S. Small Business Administration. All SBA programs are extended to the public on a non-discriminatory basis. In accordance with Federal law and U.S. Department of Agriculture policy, this institution is prohibited from discriminating on the basis of race, color, national origin, sex, age, or disability. Reasonable accommodations for persons with disabilities will be made requested at least two weeks in advance. (Not all prohibited bases apply to all programs). Cornerstone Alliance and the Renaissance Development Fund are equal opportunity providers and employers.