Al Haidous (D-Wayne) said he was pleased with a recent report presented to the Wayne County Commission Economic Development Committee, but more help for local communities is needed.
Haidous, a former Wayne mayor who chairs the committee, said the report demonstrated that minority and female-owned businesses were major recipients of grant and loan programs distributed through Wayne County to assist small businesses affected by the COVID-19 pandemic.
The survey, presented by assistant Wayne County Executive Khalil Rahal, showed that some $70 million in grants and loans were distributed through various federal, state and county-supported programs to 5,117 businesses. Grants were available during the current year to businesses with fewer than 50 employees, loans to those with fewer than 100.
Of the 4,888 awarded grants, 2,547 went to minority-owned businesses, 1,946 to female-owned businesses and 137 to businesses owned by military veterans. Rahal noted that some businesses were represented in several categories.
Minority-owned businesses included those owned by African Americans and Arab Americans, as well as a smaller number owned by Hispanic Americans and Asian Americans.
Haidous said while the numbers were good news, both in terms of overall aid provided and the number of minority-owned and female-owned businesses represented, more must be done in the coming year, especially at the federal level.
“I hope Washington gives us the tools we need, in terms of funding, to help these people,” Haidous said.
Of the $70 million in small business grants and loans, $51.5 million was distributed through the Wayne County Back To Work program. An additional $14.8 million was distributed through Restart programs administered through the Michigan Economic Development Corporation, with half of that money going to Detroit and the rest available to all other Wayne County communities. An additional $80,000 was distributed through a separate MEDC relief program.
The Wayne County Commission offered another $4.4 million in loans through a partnership with TCF Bank.
