Greater Grand Rapids Chamber Foundation has launched the Rapid Response Economic Relief Fund
The COVID-19 crisis poses a severe threat to both our local economy and business community. West Michigan is built on the backbone of entrepreneurship and small business, and the Rapid Response Economic Relief Fund is aimed at delivering short-term financial support to small businesses in need.
Eligible Businesses: This fund is focused on supporting small, for-profit businesses with 5-25 full-time employees located in Kent County. It is intended to help businesses that cannot access state or federal relief funds in a timely manner or may not be eligible.
Fund Details: Businesses that qualify for the fund will receive
- A short-term economic relief grant ranging from $5,000 - $10,000
- Technical assistance
- Cost cutting measures
- Reviewing creditor/obligation recommendations (deferments and loan re-aging)
- Connections to other resources
- Six-month cashflow projection and analysis with a business consultant