From DTE Energy – Business Resources, Payment Plans and Paycheck Protection Program Gets Re-Funded
Paycheck Protection program:
- The Paycheck protection program has received additional funding as of Friday April 24 – the President signed a $484 billion small business relief bill Friday afternoon, with applications opening this morning.
- We encourage Michigan businesses to apply for funding, and if they applied previously, to apply again if they previously did and did not successfully receive funding.
- According to a Free Press article on 4/24, Michigan businesses and eligible nonprofits were approved for 43,438 Paycheck Protection forgivable loans for the initial round, totaling about $10.4 billion, according to the Small Business Administration. Nationwide, the average size of the loans was $206,000 and the construction industry was approved for the most dollars (13% of the total). The business administration has yet to report loan details for individual states.
- Visit the Paycheck Protection Program Michigan site or the DTE hosted Business Resource Guide for more information
- DTE announced more resources available for residential customer payment programs. Please find details here.