The COVID-19 pandemic has been devastating to Michigan communities. From outbreaks that have taken the lives of thousands of Michiganders, to the residual effects of implemented safety measures, COVID-19 has affected everyone. Small businesses have been hit especially hard as they’ve had to adapt to changes and compete with large corporations.
To support small businesses and attempt to tackle the inequities small businesses are facing during the pandemic, Michigan Women Forward and the State of Michigan created the Michigan Entrepreneur Resilience Fund.
This fund offers small businesses micro-loans and loan forgiveness to help manage expenses, such as rent, payroll, PPE, equipment and more. During the pandemic over 300 businesses have utilized the fund. This financial cushion has helped struggling small businesses keep their doors open, keep Michiganders employed, and helped them adapt to new safety guidelines.
Governor Gretchen Whitmer held a roundtable to hear from small businesses utilizing the fund and showed her support for their resiliency, sharing, “Despite the adversity we have all faced this year, our small businesses have proven what it means to be a Michigander, by rising to the occasion and exemplifying true innovation, collaboration and Midwestern grit, our small businesses have not only supported their communities while keeping their employees, customers, and our brave frontline workers safe, but they have made us all proud to call Michigan our home.”
The Michigan Entrepreneur Resilience Fund, along with a multitude of other programs around the state have made a difference in keeping small businesses afloat during the COVID-19 crisis. To read more about this program, head to The Gander here.