(WXYZ) — There's a lot of federal money available for small businesses, but in some counties, time is running out. In tonight's Rebound Detroit, we take a look at two programs – one that's about to start and one where the deadline approaching.
Businesses in Wayne County can start applying for grants of up to $10,000 next week. But if you own a business in Macomb County, the window is about to close for your grant applications.
The coronavirus shut-down shuttered businesses across metro Detroit. But now there’s hope on the horizon. Federal dollars from the CARES Act are available for small businesses.
"I would absolutely apply," said Lanna Young with Savvy Chic Boutique.
Young is the owner of the Grosse Pointe boutique. She was fortunate enough to access the federal Payroll Protection Program while her store was shut down.
"It was extremely helpful," Young said. "I was able to maintain my employees. I was able to continue to pay my bills on time."
That’s why she’s encouraging her fellow Wayne County business owners to apply for the upcoming grants – just announced by the county. Businesses that employ less than 50 people may be eligible for up to $10,000 in CARES Act grant money to replace losses that occurred during the shut down.
The Wayne County grant applications will be available online starting June 29.
Meanwhile, in Macomb County, small business owners only have until this Wednesday - June 24 at 11:59 p.m. – to apply to access $20 million in federal grants.
"This first grant is targeting those really small businesses, 49 employees or less," said Vicky Rad, director of the Macomb County Planning and Economic Development.
Rad says if you have a brick and mortar store in the county you may be eligible for a grant of $5,000, and you can use the money for whatever your business needs.
"Rent utility payroll, a business that’s just now opening up, a restaurant that’s been closed –they can use that money to purchase PPE or even purchase inventory," Rad said.
Rad adds that the grants will help – but ultimately, it will be up to customers to shop local and help this rebound take off.
"We love our small businesses, we’re going to give them this infusion of money," Rad said. "It’s going to be a quick easy infusion. But we know this isn’t the thing that’s going to save them, it’s really making sure that our patrons and our residents shop local, they support that small business."
You can apply for grants here and here.
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