On Feb. 21, SBA made disaster aid available to Michigan businesses.
SBA made Economic injury disaster loans (EIDLs) available to Michigan businesses as a result of drought and excessive heat in Michigan occurring May 10, to Oct. 16, 2023.
Eligibility
EIDLs are available for small businesses, agricultural cooperatives, businesses engaged in aquaculture, and most private nonprofits with economic losses due to drought.
MCH counties of Alger, Cheboygan, Chippewa, Emmet, Luce, Mackinac, Schoolcraft.
Eligibility for EIDLs is based on size of applicant, activity and its financial resources.
These working capital EIDL loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.
The loans are not intended to replace lost sales or profits even though due to disaster.
Application Deadline
Completed EIDL loan applications must be submitted to SBA by Oct. 15, 2024.
