The Right Place is awarding $1 million in grants to 195 small businesses in West Michigan through the Michigan Small Business Relief Program.
The funds are for businesses negatively impacted as a result of the COVID-19 pandemic.
Funding was made possible by the Michigan Economic Development Corporation (MEDC) releasing $20 million in grants and loans through the Michigan Strategic Fund.
MEDC allocated the 11-county West Michigan region $1 million in grant funding to be administered by The Right Place. This region includes Barry, Ionia, Kent, Lake, Mason, Mecosta, Montcalm, Muskegon, Newaygo, Oceana and Osceola counties.
The demand for funding throughout the region was “staggering” with over 3,300 applications received, requesting over $71 million in grant and loan funding, according to The Right Place. Each county formed committees to accept and review applications for the “extremely limited” grant funding. Grant applications were evaluated based on the criteria set forth by MEDC.
County-by-county breakdown of fund awards
Barry County: $32,800 in funding, five companies awarded
Ionia County: $40,715 in funding, seven companies awarded
Kent County: $615,000 in funding, 62 companies awarded
Lake County: $6,044 in funding, three companies awarded
Mason County: $26,948 in funding, 10 companies awarded
Mecosta County: $31,342 in funding, 25 companies awarded
Montcalm County: $44,230 in funding, 11 companies awarded
Muskegon County: $140,000 in funding, 30 companies awarded
Newaygo County: $25,482 in funding, 13 companies awarded
Oceana County: $21,090 in funding, 24 companies awarded
Osceola County: 15,231 in funding, five companies awarded
The grants may be used for working capital to support payroll expenses, rent, mortgage payments, utility expenses or other similar expenses that occur in the ordinary course of business.
The Right Place is not releasing a list of small business grant recipients “to respect (their) privacy.”
The Right Place also received and forwarded 33 loan applications to MEDC for evaluation under the loan portion of the Michigan Small Business Relief Program. MEDC will make final determinations for loan applications.