Lansing Mayor Andy Schor has announced phase one of the City of Lansing's Small Business Recovery Program, the COVID-19 Rescue Fund.
The mayor's office said the fund was created as an emergency resource "to provide immediate help to City of Lansing small businesses in danger of going out of business as a result of the pandemic."
The mayor's office said small businesses can apply for $10,000 grants to help face the sudden and severe economic impacts brought on by the coronavirus pandemic.
“Small businesses throughout the City of Lansing need our support now, more than ever,” said Mayor Schor. “The City of Lansing will repurpose existing business and EDC dollars to support our local businesses who have faced severe economic hardship due to the COVID-19 pandemic. Businesses especially need these grant dollars now to survive and help ensure they can keep open or reopen their doors when this pandemic ends.”
The mayor's office said eligible applicants must be located within the City of Lansing with a total of 25 or less employees and have annual revenues of $1.5 million or less in 2019.
Mayor Schor's office said the businesses must be able to show income loss specifically related to the coronavirus and show a need for working capital.
The mayor's office said businesses must not have been awarded an MEDC Small Business Relief Fund Grant through LEAP and must be up-to-date on property and income tax payments to the city.
Mayor Schor's office said the COVID-19 Rescue Fund awards are to be used exclusively for immediate and near-term working capital expenditures such as payroll expenses essential to business viability, rent, mortgage payments, utility expenses, or other expenses that come up in the ordinary course of business.
The application period will open Monday, April 13 and close Thursday, April 16 at 11:59 p.m.
The mayor's office said awards will be announced during the week of April 27.
For more information, or to view the application, click here.
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