The Michigan Chamber sent a letter to Governor Whitmer, on behalf of its members, to make an official declaration of economic disaster immediately to allow businesses access to federal small business loans.
In the letter submitted on March 16, Michigan Chamber President & CEO Rich Studley wrote:
In order to provide relief to businesses affected by Coronavirus (COVID-19), the Michigan Chamber is asking, on behalf of our members, for you to make an official declaration of economic disaster immediately to allow businesses access to federal small business loans.
The U.S. Small Business Administration announced they will make available low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the COVID-19. In order for a state to be eligible for these loans, the Governor must issue an economic disaster declaration.
These emergency loans will become the lifeline for Michigan businesses affected by decreased business and/or forced business closures. We urge your prompt action.
View letter here.