Funding / Financial Relief Resources

Business Relief Grants, Loans and Financial Resources

 

 

Current Grant Opportunities:

Coming Soon (February/March 2021) - City of Port Huron CDBG Grant Opportunity for businesses within the city limits.  Details will be announced soon via social media (EDA's Facebook page), our website and via a press announcement to local media partners.  
 

Expired Grant Opportunities: 

Michigan Small Business Survival Grant Program 

The state of Michigan has allocated $55 million to implement the Michigan Small Business Survival Grant Program to support the needs of Michigan businesses that have been disproportionately impacted by the COVID-19 virus and the Gatherings and Mask Order. The application will be open at 9:00 am EST on Tuesday, January 19, 2021 through 12:00 noon Friday, January 22, 2021.

Complete program information is available HERE.

To apply for the Survival grant program, a business must have an account in Connect Space. A business may create an account in Connect Space in advance of the opening of the Survival grant application by visiting https://pmbc.connect.space/ and click "Sign Up Now" to create an account.

To assist St. Clair County businesses in preparing for the opening of the application, you are welcomed to view an informational webinar provided by the EDA and the St. Clair County Commissioners. A recording of the webinar can be viewed HERE.

President Donald Trump has signed into law a new $900 billion coronavirus relief and stimulus package passed by Congress. The package includes an extension of last spring’s Paycheck Protection Program, allowing another $284 billion or so in forgivable, federally backed loans for ailing small businesses.  

There will be $284 billion in forgivable PPP loan funds available, both for some businesses that already got PPP loans as well as others that missed out in round one.  The PPP program has been extended through March 31, 2021 with several changes to PPP provisions to target the additional funds to the hardest-hit small business and non-profits.

Learn more: https://edascc.com/news/article/new-coronavirus-relief-bill-will-provide-284-billion-in-loans-for-small-businesses

 

Michigan Entrepreneur Reslience Fund for Geographically / Economically Disadvantaged areas.
These grants or loans are applicable to HUBZone and Opportunity Zone areas (portions of Port Huron / Port Huron Twp. are eligible)

With the generous support of MEDC, NEI, Michigan-based foundations, corporate partners, individual donors, and in collaboration with the SBA, the Michigan Entrepreneur Resilience Fund has secured funds to provide recovery grants and loans to diverse entrepreneurs and small businesses from underrepresented groups in Michigan. This fund is intended to assist geographically and demographically disadvantaged individuals.

The Michigan Entrepreneur Resilience Fund will provide two primary avenues of funding:

Grants: $1,000 – $5,000 grants to assist with reopening or pivoting your business.

Microloans: $5,000 – $10,000 loans with a 1-3 year repayment period. Loans are fixed rate (8%), fully amortizing, term loans.

To learn more visit:  Michigan Entrepreneur Resilience Fund

Economic Injury Disaster Loans - This loan provides economic relief to small businesses and non-profit organizations that are currently experiencing a temporary loss of revenue. In response to the Coronavirus (COVID-19) pandemic, small business owners, including agricultural businesses, and nonprofit organizations in all U.S. states, Washington D.C., and territories can apply for an Economic Injury Disaster Loan. The EIDL program is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue due to coronavirus (COVID-19).  Apply here

Pure Michigan Small Business Relief Initiative Grant Program Opens December 15, 2020
The Michigan Strategic Fund today approved a $10 million grant program to help meet the urgent needs of small businesses disproportionately impacted by the COVID-19 virus, the Michigan Economic Development Corporation announced. The Pure Michigan Small Business Relief Initiative will utilize federal CARES Act funding to award grants of up to $15,000 to more than 650 small businesses across Michigan.

The application period for small businesses seeking grants will begin on Tuesday, December 15.  This grant is a first-come, first-served opportunity, so St. Clair County business are encouraged to apply immediately when the grant application opens.  This FAQ sheet answers questions about the grant. 

What type of businesses qualify for funding?

Small businesses include those disproportionately impacted by COVID-19 and recent DHHS epidemic orders that can self-certify that their business falls into one of the following industries will meet the first eligibility requirement:

• Restaurants, bars and other food and beverage service providers
• Travel and tourism destinations including lodging providers
• Live event venues and movie theaters; conference and meeting facilities
• Ice skating rinks
• Indoor water parks
• Bowling centers and Gyms and fitness centers.

 

City of Port Huron COVID-19 Small Business Relief Grant - Applications closed October 2 @ 5PM - 15 companies awarded funding

The City of Port Huron Small Business COVID-19 Relief Grant Program, administered by the Economic Development Alliance (EDA) of St. Clair County, is a grant program designed to address economic hardships experienced by small businesses as a result of the COVID-19 pandemic. The program’s goals are retaining jobs for low to moderate income people, and stabilizing local businesses. The program provides short-term working capital assistance to eligible City of Port Huron businesses that have lost revenue or are at-risk of layoff(s) or closure due to COVID-19.  This grant is intended to enable the viability of the business and the retention of current jobs during the interruption of business related to the impact of the COVID-19 pandemic.

The City of Port Huron Small Business COVID-19 relief grant program will help for-profit businesses with a grant of $5,000 per brick and mortar business.   A $75,000 fund established will allow grant funding for fifteen eligible businesses.  Applications will be accepted beginning Tuesday, September 15 and ending at 5 PM on Thursday, October 2.  

If your business is outside the boundaries of the City of Port Huron, then your business will not qualify for this grant opportunity.  For example, if your business mailing address is Port Huron (48060), but your business is physically located in Port Huron Township (outside the city limits) then your business would not be eligible for this City of Port Huron CDBG COVID-19 funding opportunity.    


EIDL Advance: NO LONGER AVAILABLE
EIDL Advance was a grant program offered together with the economic injury loan program.  The amount of the grant was determined by the number of employees indicated on the EIDL application: $1,000/employee, up to a maximum of $10,000.

Michigan Small Business Restart Grant Program - Applications CLOSED
In response to the economic impact of COVID-19, the State of Michigan allocated $100 million of CARES Act funding to implement the Michigan Small Business Restart Program to support the needs of Michigan businesses directly impacted by COVID-19. The application for businesses to apply for funding closed on Wednesday, July 15, 2020. St. Clair County applicants were invited to apply for grants in the range of $5,000 to $20,000 for the following Eligible Expenditures

Community Foundation Minority and Women-Owned COVID-19 Relief Small Business Grants (GRANT IS NOW CLOSED)
The Economic Development Alliance of St. Clair County collaborated with the  Community Foundation of St. Clair County  on a grant program specifically for minority and wowen-owned businesses affected by COVID-19. A $25,000 Fund was established to provide small business relief to minority and women-owned businesses in St. Clair County, MI.  Applications closed May 20. 

Paycheck Protection Program closed August 8, 2020

Michigan Small Business Relief Program -Applications closed / Click HERE to view a list of small business relief grant recipients  

The program will be used to provide low-interest loans to support certain small businesses that have realized a significant financial hardship as a result of the COVID-19 pandemic. Loans to eligible borrowers must be a minimum $50,000 and are capped at $200,000.


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