Loans and grants OK’d to help businesses stay open, avoid layoffs
A state board has approved 20 million dollars in grants and loans to help small businesses affected by the COVID-19 outbreak.
The money is largely directed toward businesses ordered to shut down or scale back their operations.
Governor Gretchen Whitmer has invoked emergency powers to shutter bars, casinos, and other businesses where people gather. Restaurants may remain open, but can only offer takeout or delivery service.
Whitmer says the assistance can help businesses pay utilities, their rent or mortgage, and avoid laying people off.
“Each of these is a component toward assisting and helping keep small business able to survive this crisis.”
The success of the aid to small businesses will depend largely on how long the coronavirus crisis lasts. Whitmer says she’s also looking to Washington to help businesses and workers weather the crisis.