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Michigan

These resources – like the public health crisis itself – are constantly evolving and are only current as to the date of publication. This page was last updated on June 22, 2020.

For more up-to-date information on the relief programs available in Michigan, we recommend that you visit the state’s COVID-19 Resources website or the Michigan Economic Development Corporation

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Description of Program and Relief

Northern Initiatives Program

The Northern Initiatives Program provides up to $2 million in loan funds through the Michigan Economic Development Corporation’s Capital Access program to be used to assist businesses impacted by the COVID-19 virus, such as restaurants, coffee houses, retail stores, and service providers. Loans will range from $5,000 to $250,000.

Government or Lead Agency

Michigan Economic Development Corporation

Dates Available

Inquiries to reopen in mid-May

Eligibility Requirements/Restrictions

Small businesses impacted by COVID-19, with an emphasis on women- and minority-owned businesses. Eligible businesses can use these loans primarily for working capital, acquiring machinery and equipment, and inventory.

Application Deadlines (If Applicable)

Due to the volume of requests, Northern Initiatives put a temporary hold on accepting new requests and expects to reopen inquiries in mid-May. Please visit here for more information about the application process.

Contact for More Information

888-522-0103

List of Additional Information

For more information, please visit here.


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