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COVID-19 Small Business Support Program - MI Local Biz

Matching Grants to Michigan Businesses
for Support During the Coronavirus Crisis

Agency Type:

Foundation / Corporation

Funding Source:

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The Michigan Economic Development Corporation and Patronicity

Deadline Date:

05/22/20 5:00 PM

Description:

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Matching grants of up to $5,000 to Michigan businesses for support during the Coronavirus (COVID-19) health crisis. Funding is intended to assist small businesses that are negatively affected by the pandemic, and to help them re-open as the crisis eases. Grants will match funds raised by businesses to support their working capital needs, such as payroll expenses, rent, mortgage payments, utility expenses or other similar operating expenses that may occur in the ordinary course of business. Additional needs identified and supported by the local crowdfunding community will also be considered.

Priority will be given to businesses that are located in the following areas:

  • Geographically Disadvantaged Areas
  • Engaged or Certified Redevelopment Ready Community
  • Traditional Downtowns or Neighborhood Commercial Districts

The program will operate under a “keep it all” model, once the minimum amount is raised. For additional information about this model, see: https://patronicity.s3.amazonaws.com/static/SponsorLogos/medc-lo-biz/MI+Local+Biz+Application+Guide_2020FINAL.pdf#page=3

GrantWatch ID#:

GrantWatch ID#: 189837

Estimated Size of Grant:

The MEDC will match crowdfunding raises on a 1:1 basis up to $5,000.

A minimum of $1,000 must be committed in an individual crowdfunding campaign in order to be eligible for a matching grant.

Term of Contract:

Each crowdfunding campaign is limited to a maximum 30-day raise window.

Additional Eligibility Criteria:

Eligibility:
1. A Michigan‐based small business operating in state that has been directly impacted by the COVID‐19 crisis.
2. The business retails products and or services face‐to‐face within the state of Michigan. Examples include:
‐ Restaurants / Bars / Coffee Shops
‐ Cafes
‐ Salons / Day Spas
‐ Bakeries
‐ Retail Shops
‐ Hardware Stores
‐ Any other small business retailing products or services face‐to‐face within the state of Michigan
3. The business has 25 employees or less
4. The business is able to demonstrate an income loss as a result of the COVID‐19 crisis

Ineligible businesses include: franchises or chains, marijuana-related businesses, and or any other business deemed ineligible by the MEDC. Businesses that have received support from any other COVID‐19 response programming from the Michigan Economic Development at the time of application will also be considered ineligible.

Pre-Application Information:

Timeline:
- May 18, 2020, 8:00 am: Pre-Check Application Available
- May 18, 2020, 8:00 am – May 22, 2020, 5:00 pm: Pre-Check Application Window
- Week of May 25, 2020: MEDC Project Evaluation and Prioritization
- May 28, 2020: Applicants will be notified of their eligibility
- May 28‐29, 2020: Patronicity re-engages with approved businesses to build out the online campaign profile
- Businesses will have 3 business days to complete their profile
- First week of June, 2020: Crowdfunding campaigns can begin raising donations

Applicants will utilize the Pre‐Check Application Form to answer a series of eligibility questions describing their business. Answers provided to these questions act as the initial application and will be used to determine an applicant’s eligibility. Applicants will be accepted and reviewed for eligibility on a first come first served basis until match funding is allocated.

Eligible applicants will be notified via email from the Patronicity Team on Thursday May 28th, 2020 and will be able to begin building out their crowdfunding page as the second part of their application through a unique link provided in the email.

Applicants will have 3 business days to start, complete and submit their crowdfunding page application for Patronicity review and feedback. Funding will then be given to the next eligible business based on first come first served order in which application was received.

Please work with the Patronicity Team to complete your campaign page to be submitted. This might sound like a tight timeframe, but staff at Patronicity will be available to assist with any questions an applicant might have. If the crowdfunding campaign is successful, MEDC will match the funds raised. Patronicity will provide funding to the successful business within 5 days of the campaign ending date.

Businesses with multiple locations are only eligible to undergo one crowdfunding campaign.

Contact Information:

Before starting your grant application, please review the funding source's website listed below for updates/changes/addendums/conferences/LOIs.

Complete the online pre-check application form: https://forms.gle/sPi6C1hetzjFbVur6

Michigan Economic Development Corporation
info@patronicity.com

URL for Full Text (RFP):

Geographic Focus:

USA: Michigan

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