Possible additional funding sources for businesses during the Covid-19 crisis can be found below. Please note not all funding resources are affiliated or partnered with the Flint & Genesee Chamber of Commerce. Businesses are encouraged to research carefully for legitimacy.
Small Business Assistance
Metro Community Development. Micro and small business loans ranging from $5,000 to $250,000 are available to Michigan small businesses, with an emphasis on businesses located in economically disadvantaged areas.
Consumers Energy can provide meaningful and immediate help by working with you on your utility bill; connecting you to potential sources of state and federal relief; and providing new business opportunities through the Pure Michigan Business Connect Program. Call Consumers Energy at 800-805-0490.
MWF Michigan Entrepreneur Resilience Fund, providing $5,000 – $10,000 microloans with a 1-3 year repayment period. Loans are fixed rate (8%), fully amortizing, term loans. For eligibility and to apply visit miwf.org/mwf-entrepreneur-resilience-fund/.
Patronicity is providing resources to businesses interested in crowdfunding during the Covid-19 crisis, including no fees or cost to start a campaign. More information can be found at patronicity.com/small-biz#!/.
Kiva, the popular small business, crowdsourcing investment company is offering 0% loans up to $15,000 with no payments for six months. More information can be found at kiva.org/blog/support-local-businesses-during-the-coronavirus-pandemic.
MainVest, a tech company that offers crowdsourced investing in return for profit sharing is offering a zero-interest, 120 day $2,000 loan if you have an existing “brick & mortar” business that has been negatively effected but the COVID-19 outbreak. For more information, visit mainvest.com/main-street-initiative.
Michigan Small Business Restart Program. In response to the economic impact of COVID-19, the State of Michigan has 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 will open on July 15, 2020.
The Greater Flint Urgent Relief Fund. The Greater Flint Urgent Relief Fund has been established by a coalition of philanthropic, government and business partners to quickly coordinate and deploy resources to nonprofit organizations in the Greater Flint area that are working with communities disproportionately affected by the coronavirus outbreak.