Displaying items by tag: Small Business Association of Michigan
Changes approved by Congress to the federal Paycheck Protection Program would give millions of small businesses more time to use the money and adjust how much of the loan needs to go to payroll expenses to earn forgiveness.
One in seven small business owners in Michigan still doubts whether their company will survive the COVD-19 pandemic and resulting closures ordered by the state.
After approving more loans in six weeks than during the prior nearly 60 years combined, the U.S. Small Business Administration now looks to provide debt forgiveness to borrowers.
Michigan has hit the “preliminary stage of economic re-engagement,” Gov. Gretchen Whitmer said today after modifying and extending the state’s stay-at-home order through May 15.
When looking to get Michigan back to business, the state must answer a variety of questions to assess the risk, according to Gov. Gretchen Whitmer.
The historic $2 trillion federal economic stimulus bill signed into law Friday contains $350 billion in loans for small businesses that could transition into grants.
Leaders of the Small Business Association of Michigan voiced frustration Wednesday with what they consider a lack of clarity on what businesses can stay open under the governor’s stay-home order this week, as well as how it gets enforced.
Michigan business organizations were publicly supportive of Gov. Gretchen Whitmer’s stay-home order, although they surely want more clarity on how to proceed.
Michigan employers trying to stay afloat as the coronavirus spreads should consider work sharing or offer temporary leave to employees to avoid layoffs, state officials said today.
Companies that bought business interruption insurance to guard against losses in case of a major disruption may likely find their coverage won’t protect them from the fallout of the coronavirus pandemic.