UPPER PENINSULA — $4.5 million in grant funding is currently available to small businesses in the UP.
Funding allocated to the state through the CARES Act has been made available to local businesses through the Michigan Small Business Restart Program.
Through August 5, small businesses with 50 employees or fewer that were affected by the pandemic can apply for grant support through InvestUP. 30% of the available funds will go toward women-owned, minority-owned, or veteran-owned businesses.
InvestUP CEO Marty Fittante says that although the needs in the UP are great, these grants are an important first step for struggling businesses.
“We have a great emphasis on tourism, hospitality-based business, and seasonal business, and those are the types of businesses that have been disproportionately impacted by this crisis,” said Fittante. “And so we think, although it won’t be a cure-all, it’s a good step to provide some assistance to at least a good segment of the community that’s really struggling.”
Business owners can view eligibility requirements and apply to receive Restart Program grants at update906.com.