GRAND RAPIDS, Mich. (WOOD) — The Greater Grand Rapids Chamber Foundation announced Wednesday the creation of a fund to give emergency, short-term relief to small businesses impacted by COVID-19 closures.
The Rapid Response Economic Relief Fund has started to award $5,000 to $10,000 grants to small Kent County businesses with five to 25 full-time employees. The businesses also receive backroom financial support and consultant services to assist with cash flow projections.
Fund organizers say it aims to be a “financial bridge” for businesses awaiting government funding and to organizations that cannot access government relief programs.
So far, the fund has raised more than $1 million and hopes to raise $3 million in total. As of Wednesday, 44 grants totaling $415,000 have been awarded, the fund said.
Several foundations and corporations are supporting the fund such as Amway, CDV5 Foundation, Daniel and Pamella DeVos Foundation, Deloitte, Dick and Betsy DeVos Family Foundation, Doug and Maria DeVos Foundation, Jandernoa Foundation, Kate and Richard Wolters Foundation, Peter C. & Emajean Cook Foundation, Priority Health, Profile Films and SpartanNash.
More information about how to apply can be found online.