Two Grants for Small Businesses
June 3, 2020
Courtesy of SBDC
Great Lakes Gives Back
Lake Trust Credit Union is here to support our local small businesses through the COVID-19 crisis. They have set aside $75,000 and created the Great Lakes Gives Back 1:1 grant match program. 75 businesses will be selected to receive matching funds on donations for up to $1,000 per business. Crowd funding will last from June 15th to July 31st and priority will be given to businesses with less than 25 employees. We highly encourage very small businesses to apply whether you’re a sole proprietor or have a small handful of employees.
- Applications will be accepted, reviewed, and selected on a rolling basis. Selected businesses will receive a response about three to four business days after applying.
- Applications close once 75 businesses are selected.
- Lake Trust Credit Union will match donations 1:1 up to $1,000.
- Priority will be given to small businesses that have 25 employees or less.
- The matching grant funds will be distributed once a business reaches $1,000 in crowdfunds raised, or after the July 31 matching fund period ends, whichever comes sooner. Lake Trust members will have the funds deposited directly into their account. For businesses that are not currently Lake Trust members, a check will be mailed, so please allow time for processing and delivery, approximately 1-2 weeks.
DDA Business Relief Program
Downtown East Lansing businesses take note! The East Lansing Downtown Development Authority (DDA) has approved a second round of $2,500 Business Relief Program (BRP) grants with modified eligibility requirements. 43 grants remain available for brick-and-mortar businesses within the DDA boundary that are suffering financial hardship as a result of the COVID-19 crisis and relevant executive orders. Applications are open through June 5th at 11:59pm.
1. A business must be physically (brick and mortar) located within the East Lansing Downtown Development Authority District (DDA) (boundary map attached). Virtual tenants and home-based businesses are not eligible. Businesses that received a grant in the first round of the ELDDABRP are not eligible.
- If applying for multiple locations, one application is required for each desired brick and mortar location
2. Business must be directly affected by and listed in Executive Order (EO) No. 2020-9 and/or subsequent related EOs:
- Restaurants, cafes, bars, breweries, distilleries, wineries, performance venues, libraries, museums, gyms, sports facilities, exercise studios, spas, amusement venues, non-essential manufacturers, retailers
3. Business must not be delinquent on any accounts, fees, assessment, i.e., real estate, personal property taxes, water bills, license fees, prior to the City’s emergency order related to COVID-19. Delinquent accounts must be paid in full by 5 p.m. June 1, 2020. Contact the City of East Lansing Finance Department (517) 319-6826 and the City of East Lansing Department of Public Works, (517) 337-9459 to determine if you have any delinquent accounts.