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Small Biz Bulletin - March 2022
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Message from Special Secretary Rhee
We are not immune to the social and economic impact of events taking place 5,000 miles away in Ukraine. I concur with Governor Hogan's sentiment that Putin's attack on Ukraine is not just a barbarous military assault, but an attack on the right of sovereign nations and free people everywhere. While the West is imposing harsh sanctions on Russia, the Ukrainians are fighting back and President Zelenskyy is being heralded for his leadership. Ukrainian refugees are being met with an outpouring of compassion and humanitarian aid is coming in from around the world. At the same time, we are bracing for the potential impact on our economy here at home. How this conflict will impact the inflation rate, fuel costs, and access to consumer goods remains to be seen. For business owners, and residents alike, there is also concerns regarding cyber security. I encourage you to maintain a heightened sense of awareness for cyber threats. Secure your social media, financial, and personal email accounts with multi-factor authentication. Don't open emails or click on links asking for help for victims of this conflict. If you would like to provide assistance, do so through known and vetted sites. I remain hopeful in the current steps toward diplomacy. So many of us are praying for the people of Ukraine, and the leaders who can bring this war to a swift end.
Jimmy Rhee
Special Secretary
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For Your Information
Small Business Credit Initiative
As part of the American Rescue Plan Act of 2021, Maryland is slated to receive approximately $166 million through the State Small Business Credit Initiative (SSBCI). SSBCI will provide funding for small business financing programs, including capital access programs; loan participations; loan guarantees; collateral support, and; venture equity programs. SSBCI will also provide technical assistance to small businesses applying for SSBCI and other government programs. Maryland's Department of Housing and Community Development (DHCD) will administer the program statewide. Small business owners interested in learning more about the program are encouraged to complete DHCD's Expression of Interest Form to be added to the contact list and receive notifications when funding is available.
SSBCI Expression of Interest Form
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BGE Offers Small Business Grants
You have probably heard about the BGE Energizing Small Business Grants Program that was launched last year. The program has already awarded $3.5M in funding to 176 diverse small business owners across a variety of industries in the state of Maryland. In 2022, there will be two additional opportunities to apply for grants of up to $20,000. The first round opened in February and closes on March 25th. Recipients will be announced in mid-May. Applicants must be an existing BGE electric and/or gas customer, have a positive credit history with BGE, be a for-profit business with no more than 25 employees and annual gross revenue of less than $7 million in 2021. Additional eligibility criteria apply.
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Commercial Non-Discrimination Policy
Maryland has a policy prohibiting commercial discrimination. That means we will not enter into a contract with a business entity that has discriminated in the solicitation, selection, hiring, or commercial treatment of vendors, suppliers, subcontractors, or commercial customers on the basis of race, color, religion, ancestry or national origin, gender/sex, age, physical or mental disability, sexual orientation, or marital status. Harassment and retaliation are also prohibited. Administered by the Maryland Commission on Civil Rights, this is one state policy you should get to know if you want to do business with the State of Maryland.
Commercial Non-Discrimination Policy
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Ready, Set, GROW! Returns
Maryland is OPEN for Business, and we are relaunching our Ready, Set, GROW! Procurement Connections workshop on the Zoom platform. The event is free, you simply need to register in advance. Join us on 3/16/2022 when we take a look at how our small, minority, women, and veteran procurement programs work, and show you how to turn public information into business development tools. You'll also get to meet buyers from five state agencies. Each will share what they are looking to buy right now, what is in the pipeline, and how to connect with them directly. Our guests for this event are:
- Maryland Aviation Administration
- Maryland Stadium Authority
- Maryland State Highway Administration
- Maryland State Police
- Morgan State University
Ready, Set, GROW! Procurement Connections Webinar
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Technical Training Classroom
Webinar
We are offering two great sessions for our Technical Training Classroom webinars in March. The sessions are free, you just need to register in advance.
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We Want You
We continually share information curated specifically for small, minority, women, and veteran-owned businesses on our social media platforms. We'll inspire you with our #MotivationMonday series and connect you to a broad range of small business resource organizations. We also share information about loan programs and funding opportunities as well as small business events and training programs. Please follow us on Facebook and Twitter.
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Twitter
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