Coronavirus (COVID-19) Relief Center
Coronavirus (COVID-19) Relief Center
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- Relief Center
- Federal
- New York State
- NYC
- California
- Washington State
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Other States
- Alabama
- Alaska
- Arizona
- Arkansas
- Colorado
- Connecticut
- Delaware
- District of Columbia
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- Georgia
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- Idaho
- Illinois
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- Iowa
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Michigan
These resources – like the public health crisis itself – are constantly evolving and are only current as to the date of publication. This page was last updated on June 22, 2020.
For more up-to-date information on the relief programs available in Michigan, we recommend that you visit the state’s COVID-19 Resources website or the Michigan Economic Development Corporation.
Description of Program and Relief
Michigan Strategic Fund Awardee Relief Initiative
The Michigan Strategic Fund (MSF) Awardee Relief Initiative program authorizes emergency relief to businesses and community projects that have previously received grants, loans, or other forms of economic assistance from the MSF. The initiative provides temporary relief to eligible MSF program awardees or beneficiaries negatively financially impacted as a result of the COVID-19 outbreak, including the following:
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Provides up to 12 months of deferred payments on any direct loan, loan participation, equity agreement or other financing agreement.
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Extends milestone due dates, maturity dates, or other dates within existing loan, grant, or equity agreements for a period not to exceed 12 months.
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Approves refinance requests that do not negatively impact the MSF position or likelihood of repayment.
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Approves extension of loan, grant, or equity agreement execution deadlines for a period not to exceed 12 months.
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Eliminates milestones and reduces qualified new job requirements with a proportional reduction of the grant award, in order to re-size the project scope.
Government or Lead Agency
Michigan Economic Development Corporation
Dates Available
1 year from the date of approval
Eligibility Requirements/Restrictions
Relief will vary based on a case by case review of requests. All applicants will be evaluated on at least the following criteria:
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Evidence of suspension of tenant evictions for a minimum period matching the length of any MSF payment deferment or a period up to 12 months, if applicable; and
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Income loss, credit enhancement needs or restrictions, retooling of facilities to meet emergency needs, job creation issues, job retention issues, other community needs or project delays due to COVID-19.
Application Deadlines (If Applicable)
N/A
Contact for More Information
List of Additional Information
© 2021 Paul, Weiss, Rifkind, Wharton & Garrison LLP. This does not constitute legal advice and does not create an attorney-client relationship. In some jurisdictions, this publication may be considered attorney advertising. Past representations are no guarantee of future outcomes.