Detroit EDC approves $3.1M Relief Fund for Detroit Small Businesses
Grants will be available to Detroit small businesses with:
- Fewer than 50 employees
- Less than $1 million in average net income
- Demonstrated net income loss due to COVID-19 outbreak as demonstrated through P&L
- Eligible businesses can receive $2,500 to $10,000 to pay regularly occurring business expenses such as:
- Size of grant will depend on three primary factors:
- Amount of demonstrated net income loss due to COVID-19
- Age of business
- Size of grant will depend on three primary factors:
Full eligibility requirements and scoring criteria are available in the Program Guidelines at http://www.degc.org/local-business-support-for-covid-19/
Online application are open NOW: http://www.degc.org/local-business-support-for-covid-19/
Applications will be accepted and awards will be made on a rolling basis subject to availability of funds First payments expected to be processed by April 10