News

ARTICLE

Date ArticleType
3/30/2020 General
Macomb County and Economic Development to distribute community grants for small businesses affected by COVID-19

County to use $800,000 in MEDC grants and up to $100,000 in matching funds from First State Bank

Macomb County Planning and Economic Development (MCPED) has announced it is working with the
Michigan Economic Development Corporation (MEDC) and First State Bank to coordinate economic
assistance for local businesses affected by the COVID-19 situation.

“Macomb County is committed to ensuring our small businesses survive this crisis,” said Macomb
County Executive Mark A. Hackel. “These local companies and organizations make Macomb a great
place to call home and we will do everything we can to help them get through the COVID-19 situation.”
“Local and small businesses across Macomb County have already felt the impact of this COVID-19 crisis -
whether this means shutting their doors or laying off employees,” said Vicky Rad, director, Macomb
County Planning and Economic Development. “Our goal with this effort is to make sure they have the
funding necessary to get through this period of uncertainty so they can remain open or reopen in the
future and provide services and employment opportunities for our community.”

On Thursday, March 19, the MEDC announced $20 million in support for small businesses, $10 million of
which would go to economic development organizations to distribute as grants to their communities.
MCPED received $800,000 from that allocation, with an additional cash match of up to $100,000 from
First State Bank and $30,000 from the county.

“This COVID-19 crisis is going to impact all of us,” said Gene Lovell, president and CEO, First State Bank.
“Working together, we will get through it. Our small, local businesses, through no fault of their own, are
struggling now. First State Bank recognizes that for our communities to thrive we need a strong local
economy. We depend upon our local businesses, and right now, they are depending on us. We are here
to help.”

MCPED expects to open the grant application process in early April at www.MacombBusiness.com.
Small businesses can apply for funds if they meet the following criteria:
? The company is in an industry outlined in Executive Order 2020-9, or any subsequent Executive
Order of similar intent (“EO”), or demonstrates it is otherwise affected by the COVID-19 outbreak, that meets one or more of the following: provides support to impacted employees,
is located in a downtown district or high impact corridor or has 50 employees or less, or is a
company that provides services to companies outlined in the EO and requires additional
employees to support companies or employees impacted by EO;
? The company has 50 employees or less;
? The company needs working capital to support payroll expenses, rent, mortgage payments,
utility expenses, or other similar expenses that occur in the ordinary course of business; and
? The company can demonstrate an income loss as a result of Executive Order 2020-9.

A panel, which would include representatives from the Macomb Intermediate School District, Macomb
Community College, the Sterling Heights Regional Chamber of Commerce, and First State Bank, will
review applications and help award the funds. Businesses will receive between $5,000 and $10,000
depending on need and priority.

MCPED anticipates the funding will provide direct relief to 90 to 150 businesses in Macomb County.
More information will be available at www.MacombBusiness.com in the next week.