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On March 24, 2020, in response to the Coronavirus pandemic, the Montgomery County Council announced that it will hold public hearings and vote on a $20 million grant fund for small businesses and non-profits located in Montgomery County, Maryland.   The hearings and vote are scheduled for March 31, 2020.  The public can participate by submitting comments to: county.council@montgomerycountymd.gov   or mailing/dropping off comments to the County’s offices.  

The funding is to come from Montgomery County’s general reserves, and is separate from AND in addition to funding provided by the federal government through SBA loans. 

Below are details about the grant terms and eligibility, as well as a link to obtain further details.

Grant Terms:

• $75,000 maximum grant limit
• Funding can be used for wages, benefits, taxes, debt, rent and other operating losses
• The Director of Montgomery County’s Department of Finance can also award mini-grants of $2,500 for companies and nonprofits to purchase technology equipment and software to facilitate telework

Eligibility:

• The recipient must have its principal place of business in Montgomery County (defined as conducting business in the County, and either (a) only located in the County or (b) the County-based location accounts for over 50% of the company’s revenues or employees)
• The recipient must employ 100 or less full time equivalent employees
• The recipient must have suffered significant financial loss caused by Covid 19
• Recipients must sign a grant agreement, agreeing to submit to a County audit of its financial records and also agree to remit any unused amounts or improperly used funds

CLICK HERE for more information.