Saginaw Community Foundation (SCF) is contributing $300,000 from our Investing for Community Impact Fund to support Saginaw Future, Inc’s. efforts through the Michigan Small Business Relief Program that will provide financial support to small businesses in Saginaw County that have realized a significant hardship as a result of the coronavirus (COVID-19) outbreak.
Eligible Saginaw County small businesses include a company in an industry outlined in Executive Order 2020-20, or any subsequent Executive Order of similar intent (EO), or demonstrates it is otherwise affected by the COVID-19 outbreak, that meets one or more of the following:
• Provides support to impacted employees, is located in a downtown district or high impact corridor or has 50 employees or less, or is a company that provides services to companies outlined in the EO and requires additional employees to support companies or employees impacted by EO
• The company has 50 employees or less
• The company needs working capital to support payroll expenses, rent, mortgage payments, utility expenses or other similar expenses that occur in the ordinary course of business, and
• The company demonstrates it was profitable prior to March 16, 2020
• The company is able to demonstrate an income loss as a result of the EO, or the COVID-19 outbreak
The funds received may be used for working capital to support payroll expenses, rent, mortgage payments, utility expenses, or other similar expenses that occur in the ordinary course of business.
The application will open on Friday, March 27, 2020 and close on Wednesday, April 1, 2020 at 5 p.m. EDT. To apply, visit https://form.jotform.com/200847960210147.
Applications will be reviewed by a team of regional partners including: Saginaw Future, Inc., the Mid-Michigan Small Business Development Center at Saginaw Valley State University, and Saginaw Community Foundation. The review process will begin on April 2, and all decisions regarding funding will be announced by April 6, 2020 at 5 p.m. EDT.
For additional information about this funding program, contact Cassi Miller at Saginaw Future, Inc. at (989) 717-4045 or via email at questions@saginawfuture.com.