Small business owners with multiple entities affected by the coronavirus may be in for a surprise when they go to apply for U.S. Small Business Administration loans. 

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.

Michigan’s loan and grant program for small businesses affected by the coronavirus is now accepting applications, state officials announced today.

BATTLE CREEK — The city of Battle Creek’s economic development agency has doubled its emergency loan fund to $1 million as more small businesses are impacted by the coronavirus. 

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.

Consumers Energy President and CEO Patti Poppe announced this morning she and her husband have made a $1 million personal donation to a new fund supporting small businesses in Jackson, where the utility is headquartered.

The U.S. Small Business Administration promises to decide as quickly as possible on loan applications from small businesses hurt by the coronavirus and COVID-19 pandemic.

The U.S. Small Business Administration has approved a statewide Economic Injury Disaster Loan declaration, unlocking low-interest loans for Michigan small businesses as requested two days ago by Gov. Gretchen Whitmer.

BATTLE CREEK — Battle Creek Unlimited Inc., the economic development arm for the city of Battle Creek, has established a $500,000 emergency small business loan fund in the wake of COVID-19.

The state intends to create two funds totaling $20 million to support grants and low-interest loans to small businesses that had to close or have been disrupted by the coronavirus and COVID-19 pandemic.