Adrian, MI – April 14, 2020
Grants and loans were awarded to Lenawee County businesses last week through the Michigan Economic Development Corporation’s (MEDC) Small Business Relief Program, a fund that distributed $10 million in grants and $10 million in low-interest loans to small businesses throughout the state. The funding allocation from MEDC was determined by county population, allowing Lenawee County businesses to be eligible for $100,000 in loans and $87,000 in grants.
“The Michigan Small Business Relief Program is one of the ways we are leveraging every resource available to provide relief in the face of the negative impacts COVID-19 is having on businesses across the state,” said Josh Hundt, Chief Business Development Officer and Executive Vice President at the MEDC. “We are proud to work with our partners in Lenawee Now to bring these critical resources to small businesses in the County.”
Lenawee Now, working through local partners along with Ann Arbor SPARK and other partners in the 6-county Greater Ann Arbor Region, helped businesses apply for the relief program.
The state required Lenawee Now to appoint a local selection committee who reviewed more than 150 applications totaling some $4,500,000 in relief requests. Last week, twenty Lenawee County businesses were chosen to receive funding through the program. Eighteen grants and two loans were distributed, with an average grant award of $5,000.
“Unfortunately, due to the overall impact of this pandemic, enough funding to assist every business that was affected was just not available,” said Jim Van Doren, Executive Director for Lenawee Now. “We are continuing to collaborate and advocate with local, state, and national partners to provide relief for small businesses.”
As the State of Michigan continues to take critical steps to flatten the COVID-19 curve, Lenawee Now recognizes that the region’s small businesses are among those most severely impacted by these protective measures.
“We are encouraging local businesses to consider additional resources that may be available during this time,” said Tim Robinson, Director of Operations for Lenawee Now. “We are still here to help you navigate your options and point you in the right direction.”
More information about the programs and funding can be found at www.LenaweeNow.org/Covid19 or by calling 517-265-5141.
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