Relief Grants Awarded to Thirty St. Clair County Small Businesses

April 16, 2020

Nearly two weeks ago, thirty St. Clair County businesses were selected to receive Small Business Relief Grants from The Michigan Strategic Fund. The program authorized the Michigan Economic Development Corporation (MEDC) to provide up to $10 million in small business grants and $10 million in small business loans statewide to businesses affected by COVID-19.

St. Clair County was allotted $140,787 in grant monies to provide local companies working capital to support payroll expenses, rent, mortgage payments, utility expenses, or other similar expenses that occur in the ordinary course of business.  Final criteria for grant selection included: number of employees; geographical location and the significance of the business to that specific area; the impact the grant dollars would have on helping the business; how the grant dollars will be used; effects of COVID-19 on revenue; and completeness of the applications.

“We know that these grant funds were just a drop in the bucket compared to the need,” said Dan Casey, Chief Executive Officer of the EDA.  “It was important to us that the funds be dispersed as quickly as possible.  Also, we wanted a geographic dispersion of awards in the county.”

A panel of judges representing the North, South, East and West Regions of the county used the applications and supplemental information companies provided to make their determinations.  Thirty businesses in twelve communities shared the $140,787 grant pool with an average award of $5,000.

“We were not surprised by the interest in this grant opportunity,” Casey said.  “It’s a very difficult time for small businesses; but we hope these funds will help a few companies stay viable.  In the future, we hope that more grant and loan programs will be launched.”

Additional funding opportunities for local businesses will be announced as they become available. Persons should connect with the Economic Development Alliance (EDA) on social media for the most up-to-date announcements.  These updates and other COVID-19 related federal and state resources for businesses of all sizes can be found at www.edascc.com.

List of Award Recipients:

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About the Economic Development Alliance (EDA) of St. Clair County
The Economic Development Alliance (EDA) of St. Clair County is a private non-profit organization that provides general purpose economic development services throughout St. Clair County.  EDA offers a wide variety of services involving business recruitment and business retention and expansion with the overall goal of growing the local economy and enhancing the quality of life for residents in St. Clair County.  The EDA of St. Clair County is supported by a membership of businesses from the private & public sector passionate about supporting community and economic development.  To learn more about the Economic Development Alliance of St. Clair County visit www.edascc.com