COVID-19 Business Relief Programs Announced by Governor Hogan

Maryland Department of Agriculture sent this bulletin at 03/25/2020 09:55 AM EDT

COVID-19 Business Relief Programs Announced by Governor Hogan - March 23, 2020

Governor Hogan Announces Closure of All Non-Essential Businesses, $175 Million Relief Package for Workers and Small Businesses Affected By COVID-19

Governor Hogan announced new COVID-19 business relief programs on March 23. These resources are available through the Department of Commerce and the Department of Labor.

In addition, the entire state of Maryland has received the designation for SBA assistance.
Small businesses can apply here for federal funding.

Secretary Schulz of Commerce and Secretary Robinson of Labor spoke of programs that each of the Departments offer that are a resource for businesses and employees that are impacted by COVID-19. Here is the link to the page that contains that information. https://govstatus.egov.com/md-coronavirus-business

Maryland COVID-19 Emergency Relief Fund Programs for Businesses

Maryland has authorized $130 million in loan and grant funding for small businesses and manufacturers that have been negatively impacted by the Coronavirus (COVID-19). This emergency assistance provides interim relief and proceeds that can be used to pay cash operating expenses including payroll, suppliers, rent, fixed debt payments and other mission-critical cash operating costs. If you are a Maryland-based business impacted by the Coronavirus with under 50 full- and part-time employees, or a Maryland manufacturer, check out the programs below to see if you qualify for assistance.

Maryland Small Business COVID-19 Emergency Relief Loan Fund - This $75 million loan fund (for for-profit businesses only) offers no interest or principal payments due for the first 12 months, then converts to a 36-month term loan of principal and interest payments, with an interest rate at 2% per annum. Learn more.
Maryland Small Business COVID-19 Emergency Relief Grant Fund - This $50 million grant program for businesses and non-profits offers grant amounts up to $10,000, not to exceed 3 months of demonstrated cash operating expenses for the first quarter of 2020. Learn more.
Maryland COVID-19 Emergency Relief Manufacturing Fund - This $5 million incentive program helps Maryland manufacturers to produce personal protective equipment (PPE) that is urgently needed by hospitals and health-care workers across the country. More details are expected to be announced by Friday, March 27, 2020.

Get Started Now!

✔ View the One Pager

✔ COVID-19 Layoff Aversion Fund Policy

✔ COVID-19 Layoff Aversion Fund Application (Excel)

Submit your completed application to:
LaborCOVID19.layoffaversion@maryland.gov

Labor staff will process applications within two business days of receipt. Upon approval and receipt of signed contract, payment will be expedited.

For More Information…

Contact the Division of Workforce Development and Adult Learning.

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