Substantial Financial Relief for Small Businesses in MD
October 22, 2020
Maryland Governor Larry Hogan has just announced new grants are available. He announced he is doubling the relief funding and providing another $250M. This will be through the Maryland Strong Economic Recovery initiative.
· $50M will be allocated Maryland Small business COVID-19 Relief Grant Fund
· $50M will be new relief for restaurants in every single jurisdiction
· $20M for small businesses, entertainment venues, and Main Street recovery zones
· $20M COVID-19 Layoff Aversion Fund
· $5M for small and minority business low-interest loans
· $2M for hometown tourism efforts to support small businesses
· $3M for non profits, county arts organizations and local artists
· $100M dedicated emergency rapid response fund
3R Initiative for MOCO Restaurants and Retailers
The Montgomery County Economic Development Corp has also announced $5,000 Grants are Available for Restaurants and Retailers called the 3R Initiative – designed to help business owners in targeted geographical areas. Once they have funded those areas, they will look at other applications on a first come, first served basis.
The last day to apply is November 5th.
GRANTS AVAILABLE – APPLY NOW – SEE PROGRAM HERE