$349 Billion in Federal Loans Approved for Small Businesses
Lt. Governor Garlin Gilchrist & former Lt. Governor Calley have teamed up to announce a coalition to support small businesses and improve access to forgivable federal loans.
The Whitmer Administration announced recently that businesses across Michigan are now able to apply for $349 billion in Paycheck Protection Program (PPP) forgivable loans through the U.S. Small Business Administration.
Lt. Governor Gilchrist II was joined by former Lt. Governor, and current president of the Small Business Association of Michigan (SBAM) Brian Calley and Bob Doyle, president and CEO of the Michigan Association of CPAs, in launching a new statewide website, MIpaycheckprotection.com, to provide businesses with key resources to assist with the PPP application and loan process and ensure the greatest amount of federal funding is able to be used by small businesses for economic relief efforts throughout the state.
“All across Michigan, small businesses and families are doing their part to mitigate the spread of COVID-19, but this unprecedented time has, understandably, created uncertainty for many employers,” Gilchrist said. “That’s why we are working to make it as easy as possible for even the smallest businesses to apply for additional funding with the launch of the Michigan Paycheck Protection Program website. The Paycheck Protection Program offers much-needed financial support for our small businesses and their workers to help them get through this tough time.”
Visit the Michigan Paycheck Protection Program website to learn more.
Additional Resources for Employers
Find these and additional employer and worker resources available online at michigan.gov/CoronaVirus:
- COVID-19 Capital Resources
- Guidance to Michigan employers contemplating potential layoffs related to COVID-19
- COVID-19 Employer Frequently Asked Questions