The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program,
the initiative provides 100% federally guaranteed loans to small businesses.
Importantly, these loans may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls afterward.
The administration soon will release more details including the list of lenders offering loans under the program. In the meantime, the U.S. Chamber of Commerce has issued
this guide to help small businesses and self-employed individuals prepare to file for a loan.
Here are the questions you may be asking— and what you need to know: Click here for more information …..
We recognize that this is a difficult time for Wayne County small businesses and we are committed to working to create and gather resources to provide relief to the businesses and people of Wayne County. Below is a list of resources and information for local businesses during and in the aftermath of the COVID-19 (Coronavirus) outbreak. We will continue to update this page as more resources become available. If you have questions, please reach out to us via the Contact Us tab on this page.
Wayne County Small Business Relief Loan Fund
Health Choice Affordable Healthcare for Small Businesses and their Employees
Detroit Business Stabilization Fund
Michigan Small Business Relief Grant
Michigan Resources for Employers and Workers
Treasury: Small Business Taxpayers Provided Tax Assistance
MEDC COVID-19 Resources
Michigan SBDC COVID-19 Resources
State of Michigan’s Corona Virus Resources
Small Business Association of Michigan Corona Virus Resources
The Small Business Administration’s Guidance for Businesses and Employers to Plan and Respond to Coronavirus
U.S. Chamber Coronavirus Resources and Coronavirus Response Toolkit
U.S. State Department Travel Guidelines
DoL Guidance for Preparing your workplace for COVID-19
CDC Guidance for Businesses and Employers
SBA to Provide Disaster Assistance Loans for Small Businesses Impacted by Coronavirus