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In the face of workforce disruption, revenue reductions, supply chain problems and economic upheaval related to the COVID-19 crisis, locating financial assistance is more crucial than ever. MMA’s new COVID-19 Financial Relief Tool Kit has detailed information on the emerging federal and state programs that you could qualify for.

COVID Relief Programs Closed, Over $20 Million Awards to Michigan Businesses

Various Michigan small business COVID relief programs have awarded $20 million in grants/loans to 2,870 Michigan businesses. This has retained over 1,000 jobs for Michigan workers.

The following programs are now closed to application:

Michigan Small Business Restart Program
Pure Michigan Business Connect COVID-19 Emergency Access & Retooling Grants
Michigan Small Business Relief Program
Paycheck Protection Program
Tech Startup Stabilization Fund
PlanetM COVID-19 Mobility Solutions
Grant/COVID-19 Mobility Solutions
Michigan Agriculture Safety Grant
MEDC Small Farm Safety Grant Program

Contact MMA’s David Worthams, at 517-487-8551 or worthams@mimfg.org for more information on what was available and to be informed of potential future programs.

The American Rescue Plan Act (ARPA) was signed by President Joe Biden on March 11, 2021. It includes many provisions impacting unemployment insurance, small business support, consumer protection provisions and support for state and local governments. Of particular note for manufacturers are the following items:

$7.25 billion appropriation for the Paycheck Protection Programs (PPP) forgivable loans, including:

$15 billion for targeted Economic Injury Disaster Loan (EIDL) advance payments

Funds for businesses located in low-income communities that have no more than 300 employees and that have suffered an economic loss of more than 30% as determined by the amount that the entity’s gross receipts declined during an eight-week period, between March 2, 2020 and December 31, 2021, relative to a comparable eight-week period immediately preceding March 2, 2020.

$1.25 billion for shuttered venue operators

Employee Retention Credit

Extended the credit established by the CARES Act through December 31, 2021.
Expands eligibility for the credit to new startups that were established after February 15, 2020 and companies if their revenue declined by 90% compared to the same calendar quarter of the previous year. Capped at $50,000 per calendar quarter for startups.

Paid Leave Credit:

Extends tax credits for employer-provided paid sick and family leave established under the FFCRA through September 30, 2021. Wages increased by the credit to $12,000 per worker. Bars employers from receiving credits if their paid leave favors highly compensated employees, full-time works, or employees based on tenure.

Extends Pandemic Unemployment Assistance program through September 6, 2021.
Extends CARES Act provisions to provide a 75% subsidy for cost incurred by employers who provide unemployment benefits on a reimbursable basis rather than through tax contributions.

Increases the number of weeks of benefits an individual worker may receive in Pandemic Emergency Unemployment Compensation (PEUC) from 24 to 53 and extends the length in time in which workers can receive PEUC benefits if they exhaust regular state unemployment insurance benefits to last until September 6, 2021