New State Grant Provides Additional Financial Support for Michigan Businesses Impacted by COVID-19
A new grant program is available to provide additional financial support for Michigan business owners adversely affected by COVID-19.
The Afflicted Business Relief (ABR) program was created to provide grants to certain businesses in Michigan that have realized a financial hardship as a result of the pandemic.
Gov. Gretchen Whitmer recently signed legislation into law that makes up to $409 million available for the ABR program.
Eligible businesses in operation before Oct. 1, 2019 may receive a percentage of their loss in total state sales through a grant, up to $5 million.
Eligible businesses that began operating between Oct. 1, 2019, and June 1, 2020, may receive a grant equal to 25 percent of certain specified costs. The grants may be prorated depending upon the number of businesses that apply to ensure all eligible businesses can receive funding.
To determine the size of the grant your business may be eligible for, please visit the ABR website.
Businesses must submit a completed online application to the Michigan Department of Treasury no later than 11:59 p.m. on Thursday, March 31. Grant awardees will be notified in the spring and grant awards will be distributed by July 2, 2022. For more information, visit www.michigan.gov/abr.
Help is available
The business attorneys at O’Reilly Rancilio are available to answer your questions regarding the ABR program. For more information, please call 586-726-1000 or visit our website.