Maryland and Montgomery County programs available to assist small businesses during the Coronavirus pandemic.
Maryland State Programs:
- Emergency Relief Loan Fund. This $75 million fund offers no interest or principal payments for the first 12 months. It then converts to a 36-month term loan of principal and interest payments, with an interest rate of 2% per annum. For more information go to www.commerce.maryland.gov
- Relief Manufacturing Fund. This $5 million incentive program helps Maryland manufacturers produce personal protective equipment (PPE) that is urgently needed by hospitals and health-care workers across the State. For more information go to www.commerce.maryland.gov
- Layoff Aversion Fund/Workforce Development and Adult Learning. This program is designed to support businesses undergoing economic stresses due to the pandemic by preventing or minimizing the duration of unemployment resulting from layoffs. The award (up to $50,000 per applicant), will be quick deployable benefit and customizable to the specific needs of your business to minimize the need for layoffs. For more information go to www.dllr.state.md.us
- Export Assistance for Businesses. The ExportMD Program helps offset some of the costs of marketing internationally for Maryland's small and mid-size companies.
To apply call (410) 767-3393
Montgomery County Programs:
- $20 million Public Health Emergency Grant Program. This stimulus program is intended to provide relief to small businesses and nonprofits with fewer than 100 employees. Maximum grant amounts are $75,000. If you would like more information about the program, email Peter.Fosselman@montgomerycountymd.gov and include "PHEG" in the subject line. For more information visit: www.montgomerycountymd.gov/HHS/RightNav/Coronavirus-biz.html
- Child Care for Essential Personnel. The Office of Child Care (OCC) has created the Essential Personnel Child Care (EPCC) program for licensed child care programs. To apply visit: www.marylandpublicschools.org
- Guidance for Restaurants. Apply for a $500 grant through the Restaurant Employee Relief Fund. Visit https://rerf.us