Oakland County Stabilization Fund for Small Businesses (COVID-19)
As a small business owner in Oakland County, we want to help you understand and apply for one of the funding opportunities available.
These are the two programs, and you will have to determine which one is right for your company. You can only apply for one:
- Small Business Grant (Part of the Michigan Small Business Relief Program)
- Small Business Loan (Part of the Michigan Small Business Relief Program)
To be eligible for either the grant or loan, your business must have experienced significant financial hardship as a result of the COVID-19 outbreak or related state executive orders.
Grant and Loan submissions must be submitted by April 6th at noon.
Small Business Grant
Grant Qualifications
- 50 employees or fewer.
- Working capital to support payroll expenses, rent, mortgage, utility, or other similar expenses.
- Able to demonstrate an income loss as a result of the COVID-19 outbreak or related state executive orders.
- You can apply for up to $10,000.
Small Business Loan
Loan Qualifications
- 100 employees or fewer.
- Working capital to support payroll expenses, rent, mortgage, utility, or other similar expenses.
- Able to demonstrate that the company is unable to access credit through alternative sources.
- Able to demonstrate an income loss as a result of the COVID-19 outbreak or related state executive orders.
- Loans to range from $50,000 to $200,000.
https://www.oakgov.com/covid/businessrelief/Pages/medcstabilizationgrant.aspx