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The latest news on loans, simplified
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Michigan Small Business Restart Program Grants, July 21st information session

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Together, the MEDC and DEGC will walk through the details of the most recent small business (and nonprofit) grant program, including eligibility and the application process for Detroit-based organizations, see flyer for details.

07/20/2020

MBDA Business Center: Enterprising Women of Color

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The funding categories are Environment, Natural Resources, Science and Technology, and other Research and Development.

There will be three $500,000 awardees in 2020 and six in 2021.

Eligible applicants include For-profit entities (including but not limited to sole proprietorships partnerships, limited liability companies, and corporations), non-profit organizations, institutions of higher education, commercial organizations, state and local government entities, and quasigovernment entities.

Full Announcement.
04/28/2020

New DOL Guidance on FFCRA Addresses Use of Employer PTO Policies

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On April 20, 2020, the Department of Labor (DOL) provided new guidance for compliance with the paid sick leave provisions of the Families First Coronavirus Recovery Act (FFCRA). One important clarification involves the interplay between leave under the FFCRA and the employer’s paid time off policy (PTO). The DOL made clear that the circumstances in which PTO may be used in conjunction with FFCRA leave will differ depending on whether leave is taken under the Emergency Paid Sick Leave Act or the Emergency Family and Medical Leave Expansion Act.
Read more. 
04/28/2020

COVID-19 Stimulus Payments

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The Coronavirus Aid, Relief, and Economic Security (CARES) Act recently signed into law provides a one-time payment, among other items, to individuals to help ease the economic strain caused by the coronavirus epidemic.

Click here for the details of the stimulus payment initiative.

Paycheck Protection Program Applications April 3, 2020!

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As part of the CARES Act, and administered by the SBA, will provide a loan up to $10 million for payroll and other expenses. The program will provide funding to qualified small businesses as well as certain non-profit organizations.

Read the full description and find the application here

Order clarifies unemployment benefits, adds workers who were previously ineligible

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Gov. Gretchen Whitmer signed Executive Order 2020-24, clarifying how the expansion of eligibility for unemployment benefits during the COVID-19 will work.  Read more

Small Business Relief Loan Fund

TCF Bank and Wayne County are working together to provide fast relief through microloans, to help small businesses with the effects of COVID-19. They are committing at least $3 million each to a new low-interest loan fund for small businesses in Wayne County to borrow money as soon as next week to sustain their operations during the coronavirus shutdowns. Read more

Families First Coronavirus Response Act: Questions and Answers

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As provided under the legislation, the U.S. Department of Labor will be issuing implementing regulations. Additionally, as warranted, the Department will continue to provide compliance assistance to employers and employees on their responsibilities and rights under the FFCRA. Read more

CARES Act: Employee Benefits Implications

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Congress has passed the CARES Act to help combat the impacts of COVID-19. Below is an initial summary of key employee benefits provisions. More details will be coming but we want to make you aware of these provisions and options as soon as possible. Read more

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