​3,500 Oakland County Businesses To Receive Nearly $14M In Grants

OAKLAND COUNTY, MI —More than 3,500 Oakland County small businesses impacted by the coronavirus pandemic will receive grants averaging nearly $4,000 from the county's $14 million small business stabilization fund, county officials announced Tuesday.

The grants will provide the businesses with an immediate infusion of capital to support payroll expenses, rent, mortgage payments, utility expenses or other similar expenses that occur in the ordinary course of business, officials said.

“Small businesses are vital to Oakland County’s economy and so many of our residents,” County Executive David Coulter said. “They bring life and value to our communities. These grants provide a substantial boost to many small businesses who have suffered greatly through no fault of their own.

"We were able to fund nearly 50 percent of the businesses who applied for grants. I applaud the Board of Commissioners for its quick action in funding the program.”

The grants, which totaled nearly $14 million, were awarded in two phases. In April, 797 small businesses received an average of $2,886 from a $2.3 million fund that was created by a grant from the Michigan Economic Development Corp. and a matching grant from the Board of Commissioners.

The county added another $700,000 to create the “Saving Businesses, Saving Lives” grant program to incentivize manufacturers who transition to making personal protective equipment for health care workers, bringing available grants to a total of $3 million. Eight manufacturers have shared more than $400,000, with several other companies being considered for grants this week.

After the initial fund was quickly exhausted, the county board on April 29 approved an additional $12 million.

Nearly 7,400 small businesses — 17 percent of all businesses in Oakland County — applied for grants, the county said.