Introduction
The East Michigan Council of Government (EMCOG) was awarded $550,000 in July 2020 from the U.S. Department of Commerce Economic Development Administration (EDA) through the Coronavirus Aid Relief and Economic Security (CARES) Act to establish a new 14-county Revolving Loan Fund (RLF) that prevents, prepares for, and responds to the Coronavirus pandemic or economic injury caused by the Coronavirus pandemic.
Purpose
Loans from this fund are designed to provide low-cost, flexible financing to assist with projects that will alleviate sudden and severe economic dislocation caused by the pandemic, provide permanent resources to support economic resiliency and further the long-term economic growth of the east central Region of Michigan. Approximately $500,000 will be available for lending throughout the 14 counties for projects which promote business revitalization and growth, enhance workplace safety, strengthen supply chains and sustain/create jobs.
Download the EMCOG RLF CARES Plan 2020