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Loans & Funding

Loans, Grants & Financial Information

Discover loans and funding options available to small businesses including updates to commonly asked questions on the EIDL and PPP loan. Also in this section:

CARES Act: Paycheck Protection Program

The new deadline to apply for a Paycheck Protection Program loan was August 8, 2020. Please refer to our COVID-19 FAQ page for details on the program, or tax-related questions. Click here to visit the SBA’s site to learn more.

PPP Loan Forgiveness ApplicationPPP Forgiveness Calculator

Paycheck Protection Program Flexibility Act of 2020 Summary courtesy of Warner Norcross + Judd

The SBA and Treasury have released additional guidance regarding the Paycheck Protection Program Second Round of Funding:

Other resources:

Loans and Funding Webinars

Michigan Small Business Restart Program

In an effort to continue to support small businesses, the Michigan Small Business Restart Program will provide funding to local economic development organizations (EDOs) who will provide grants to eligible small businesses that have been negatively impacted by COVID-19 and need working capital to support payroll expenses, rent, mortgage payments, utility expenses or other similar expenses. The partnering EDOs are listed below and cover all 83 counties in Michigan.

Grant Applications closed as of August 5, 2020 at 11:59 p.m. For questions regarding your submitted application, please contact the local economic development organization that covers the county in which your business is located.

Michigan Ag Safety Grants – FAQ

Michigan Small Business Restart Grants – FAQ

Learn more

Other Grants Available to Small Businesses

Consumers Energy Foundation Provides $1.8 Million to Support Small Businesses in Communities Across Michigan

The Consumers Energy Foundation is donating $1.8 million to nine organizations to provide a lifeline to small businesses across Michigan – focusing in particular on helping female- and minority-owned businesses. For more information about the Consumers Energy Foundation, visit

Facebook Small Business Grants Program for Detroit Metro Area

“Up to 30,000 eligible small businesses in more than 30 countries where we operate will be able to receive the Facebook Small Business Grant.” To be eligible to apply, your business must be in the Detroit Metro Area. For details about the Small Business Grants Program click here.

MIOSHA MIWISH Grant Program – closed accepting applications Friday, August 9th. 

The MIOSHA Workplace Improvement to Safety and Health (MIWISH) Grant Program awards qualifying employers a dollar-for-dollar match – up to $5,000 – to purchase safety and health-related equipment and equipment-related training. The goal of the program is to create a safer and healthier work environment and reduce the risk of injury and illness to workers in Michigan. For more information on this grant, visit the website.

SBA Economic Injury Disaster Loans

Find out how to apply for SBA Disaster loans and other related topics here.

On June 15, the SBA began accepting new EIDL and EIDL Advance applications from qualified small businesses and U.S. agricultural businesses.

SBA also resumed processing EIDL applications that were submitted before the portal stopped accepting new applications on April 15.  They are processing those applications on a first-come, first-served basis.

EIDL Advance Discontinued. All available funds for the EIDL Advance program have been allocated. By law, SBA is not able to issue EIDL Advances once program funding has been obligated and is no longer available. EIDL loan applications will still be processed even though the Advance is no longer available.

Express Loans

The CARES Act increases the maximum amount for a SBA Express Loan from $350,000 to $1 million through December 31, 2020.

Source: Warner Norcross & Judd

SBA Express Bridge Loans

Enables small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.

Learn more.

Who is eligible for an Emergency Economic Injury Grant Advance?

Those eligible for an EIDL and who have been in operation since January 31, 2020, when the public health crisis was announced.

How long are Emergency Economic Injury Grant Advances available?

January 31, 2020 – December 31, 2020. The grants are backdated to January 31, 2020 to allow those who have already applied for EIDLs to be eligible to also receive a grant.

Summary of the Grants

The Emergency Economic Injury Grants are just a piece of the Economic Injury Disaster Loans to get money up front for business owners with cash-flow issues. Done at the same time you apply for your EIDL.

“Includes $10 billion in funding to provide an emergency advance of up to $10,000 to small businesses and private non-profits harmed by COVID-19 within three days of applying for an SBA Economic Injury Disaster Loan (EIDL). To access the advance, you first apply for an EIDL and then request the advance. The advance does not need to be repaid under any circumstance, and may be used to keep employees on payroll, to pay for sick leave, meet increased production costs due to supply chain disruptions, or pay business obligations, including debts, rent and mortgage payments.”

The EIDL grant does not need to be repaid, even if the grantee is subsequently denied an EIDL. It may be used to provide paid sick leave to employees, maintain payroll, meet increased production costs due to supply chain disruptions, or pay business obligations, including debts, rent and mortgage payments. Eligible grant recipients must have been in operation on January 31, 2020. The grant is available to small businesses, private nonprofits, sole proprietors and independent contractors, tribal businesses, as well as cooperatives and employee-owned businesses.

A business that receives an EIDL between January 31, 2020 and June 30, 2020, as a result of a COVID-19 disaster declaration, is eligible to apply for a PPP loan, or the business may refinance their EIDL into a PPP loan. In either case, the emergency EIDL grant award of up to $10,000 would be subtracted from the amount forgiven in the payroll protection plan.