Oakland County is seeking to create a $32 million grant program that would assist restaurants, retailers, and personal care services businesses that have been impacted by the coronavirus pandemic.
County Executive David Coulter made the announcement Tuesday that he will ask the county board of commissioner to allocate the funding and create the Oakland Together Economic Recovery Grant Program, which would provide businesses with an immediate infusion of capital to support payroll expenses, rent, mortgage payments, utility expenses or other operational costs. The money will be pulled from the county’s $219 million federal CARES Act allocation.
Coulter said the small business community is a key driver to having a successful economy in Oakland County. According to the Small Business Administration, small businesses account for about 40% to 53% of the county’s total employment.
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