PRESS RELEASE
March 30, 2020 — MONROE, MICH

Contact: Tim Lake
Monroe County Business Development Corporation
PO Box 926, Monroe, MI 48161
Phone: 734-241-8081
www.monroecountybdc.org/COVID-19

Due to an overwhelming demand for funding, we find it necessary to close the Monroe County portion of the Michigan Small Business Relief Program effective at midnight today, March 30, 2020.

Although we would like to assist every business in this capacity, our 6-county region was allocated $900,000 collectively with Monroe County being allocated $133,745.

The committee established to review the applications have received over $300,000 in grant and $250,000 in loan requests since opening the process last Friday, March 27, at 4:00 pm. The committee has already started the review process on the many applications received. They are anticipating their task will be completed by weeks end and notification to each of the applicants by early next week.

“We would love to be able to provide some financial relief for every company that is suffering financial losses during these trying times,” said Tim Lake President and CEO of the Monroe County BDC. “The BDC is the local partner to the Michigan Economic Development Corporation, who designed the program. We have been tasked with leading the local effort in cooperation with both the Monroe County EDC and the Monroe County Chamber of Commerce.”

Although this program will be concluding, there are many resources available for Monroe County businesses. These are being compiled on a page on our website. Please visit this page frequently as it is being updated as new information becomes available: www.monroecountybdc.org/COVID-19.

Should you require additional assistance, please reach out to the BDC at BDC@MonroeCountyBDC.org.

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About Monroe County Business Development Corporation
Monroe County BDC, a non-profit organization, is Monroe County’s local economic development organization. The Monroe County BDC is dedicated to attracting new businesses, retaining and expanding existing businesses and serving as a catalyst for capital investment and quality job growth in Monroe County. Formed in 1982, Monroe County BDC is led by President and CEO Tim Lake and a 17-member Board of Directors consisting of some of the area’s top leaders, including representatives from manufacturing, banking, utilities and local government.

About Monroe County Chamber of Commerce
The Monroe County Chamber of Commerce is a business organization that exists to foster innovation and collaboration.  The Chamber’s mission is to promote the growth and success of business in Monroe County, MI.  They are governed by a board of directors and execute their plan of action via a small team of committed paid staff and prominent volunteers from area businesses.

About Monroe County Economic Development Corporation
Monroe County’s EDC is driven by a commitment of the local municipalities working with the local educational, business community and labor organizations in partnership with the Monroe County Business Development Corporation (BDC) to provide an inviting environment for new business. Their economic development efforts are focused not only on industrial-based companies, but also on commercial businesses. Through the Monroe County EDC and the Monroe County BDC’s “Business First” initiative, Monroe County is able to offer assistance in site search, business planning, research and coordination with local government agencies to provide new businesses and expanding businesses a helping hand in locating within the county.