City of Troy
The City of Troy will be moving to critical staff and services only plan from now until April 13 to protect residents and employees even further from the spread of COVID-19. Please review our COVID-19 City Procedures page for a full outline of current operations.
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New Assistance Programs:
New Business Assistance Opportunity – MI Entrepreneur Resilience Fund
A new $1.5 million MichiganEntrepreneur Resilience Fund has been created to assist entrepreneurs and small businesses negatively impacted by COVID-19 recover from the outbreak, as well as assist them in meeting increased demands in support of COVID-19 response efforts. Grants of $1,000-$5,000 and microloans of $5,000-$10,000 are available. The program targets businesses in geographically disadvantaged areas such as Opportunity Zones and HUBZones. The following are located in Troy:
Opportunity Zone – Area bounded by Maple Road, W. Big Beaver Road, Crooks Road and Livernois
HUBZones – Area 1 bounded by Fourteen Mile Road, Maple Road, John R and Dequindre; Area 2 roughly bounded by E. Big Beaver, John R, Fourteen Mile Road, Livernois, Maple Road, Rochester Road and Stephenson Highway.
A HUBZone map may be found here:
Please click here for program information.
Verizon Small Business Recovery Fund
Verizon has made available a new round of funding through LISC to support small businesses that are faced with having to close their doors to help fight the spread of the COVID-19 virus. LISC will use the funds to provide grants of up to $10,000 to businesses facing immediate financial pressure, especially entrepreneurs of color, women-owned businesses and other enterprises that don’t have access to flexible, affordable capital in historically under-served communities. The grants are designed to help business owners fill urgent financial gaps from paying rent to meeting payroll until they can resume normal operations or other financing becomes available. You can learn more about this program HERE.
Oakland County COVID-19 website | www.oakgov.com/covid
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Email and Text Alerts
Oakland County offers e-mail & text alert subscriptions.
Oakland County Business Resources: www.advantageoakland.com
State of Michigan
NEW INFORMATION APRIL 27, 2020:
The Federal Paycheck Protection Program has a new influx of funds and resumes for applications on April 27th. These are forgivable small business loans through the SBA.
Applications for Federal Paycheck Protection Program Resume April 27
An additional $310 billion was approved to extend the Paycheck Protection Program to provide forgivable federal loans through the U.S. Small Business Administration.
The SBA resumed accepting applications from participating lenders on Monday, April 27 at 10:30 am.
Small business owners who have previously applied for PPP funding are encouraged to verify the status of their pending application with their lender. More information on how to apply for the SBA Paycheck Protection Program is available at www.MIpaycheckprotection.com
State of Michigan COVID-19 website | www.michigan.gov/coronavirus/
State of Michigan Email Alerts
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Executive Office of the Governor
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Volunteer Resources | www.michigan.gov/coronavirus/
Medical professionals can register to serve their fellow Michiganders by assisting hospitals in fighting COVID-19. Other state residents also can use the site to find out how they can help in their local communities, give blood, donate money or needed medical supplies, or assist public health officials in tracking infections.
State of Michigan Business Resources: www.michiganbusiness.org/covid19
Centers for Disease Control and Prevention
CDC COVID-19 website | www.cdc.gov/coronavirus/ | Register for CDC COVID-19 updates at the bottom of the CDC webpage.
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Federal Government Business Resources
US Chamber of Commerce - Small Business Loans www.uschamber.com/sbloans
Congresswoman Haley Stevens’ guide to Business Resources: https://stevens.house.gov/sites/stevens.house.gov/files/documents/MI11%20Resource%20Guide%20for%20Businesses.pdf
Small Business Administration: www.sba.gov
America's Small Business Development Center Resources: www.americassbdc.org