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    • Home
    • Member Clubs
    • News and Updates
    • COVID-19 Information
    • Resources for Businesses
    • Resources for Coaches
    • Resources for Players
    • Resources for Parents
    • Documents and Templates
    • Meetings, Webinars, Calls
  • Home
  • Member Clubs
  • News and Updates
  • COVID-19 Information
  • Resources for Businesses
  • Resources for Coaches
  • Resources for Players
  • Resources for Parents
  • Documents and Templates
  • Meetings, Webinars, Calls

Maryland Relief Programs and Assistance

Maryland Small Business COVID-19 Emergency Relief Loan Fund

This COVID-19 Emergency Relief $75M Loan Fund offers working capital to assist Maryland for-profit small businesses disrupted operations due to COVID-19. Loan assistance is intended to provide interim relief complementing actions with its bank, business interruption insurance, and financial partners.

GENERAL TERMS AND CONDITIONS

  • Loans up to $50,000 (not to exceed three months of cash operating expenses) open to      Maryland businesses impacted by the COVID-19 with fewer than 50 employees.       0% for the first 12 months, and 2% for the remaining 36 months.
  • Deferral of any payments for the first 12 months, and straight amortization beginning in the 13th month through the 36th month.  Business must be established prior to March 9, 2020 and in good standing.
  • Applicants must have employees on their payroll for whom they have had payroll taxes      withheld (i.e. W-2 employees).
  • Two years of historical financial statements and most recent interim statement to     benchmark revenue against (if available).
  • Six month pro forma of estimated lost revenue or other documented loss evidence.
  • Minimum personal credit score of 575.
  • No collateral requirements.
  • Eligible uses include: working capital to support payroll expenses, rent, mortgage payments, utility expenses, or other similar expenses that occur in the ordinary course of operations.

The business must demonstrate financial stress or disrupted operations, which may include but are not limited to:

  • Notices from tenants closing operations and not paying rent caused by loss of    income.
  • Notice of inability to pay rent or make loan payments due to reduced sales, suspended operations.
  • Increased cost related to COVID-19 prevention measures.
  • Notice of disrupted supply network leading to shortage of critical inventory or      materials.
  • Other circumstances subject to review on a case by case basis.

APPLY

Before applying to this program, please review these Frequently Asked Questions. Click here to apply.

CONTACT

For more information about this COVID-19 loan fund, please send an email to the Commerce COVID-19 Assistance Team at covid-19.application@maryland.gov.

Maryland Small Business COVID-19 Emergency Relief Grant Fund

This COVID-19 Emergency Relief $50M Grant Fund offers working capital to assist Maryland small businesses and nonprofits with disrupted operations due to COVID-19. Grant assistance is intended to provide interim relief complementing actions with its bank, business interruption insurance, and financial partners.

GENERAL TERMS AND CONDITIONS

  • Grants up to $10,000 not to exceed 3 months of cash operating expenses for Maryland      businesses and nonprofits impacted by the COVID-19 with 50 or fewer employees.
  • Must be established prior to March 9, 2020.
  • Business must be in good standing.
  • Applicants must have employees on their payroll for whom they have had payroll taxes      withheld (i.e. W-2 employees).
  • Annual Revenues of the business or nonprofit not to exceed $5 million as evidenced by Financial Statement or other financial documentation.
  • Business or nonprofit is expected to seek longer term funding through its bank, SBA,      or other source.
  • Eligible uses include: working capital to support payroll expenses, rent, mortgage      payments, utility expenses, or other similar expenses that occur in the ordinary course of operations.

The business or nonprofit must demonstrate financial stress or disrupted operations, which may include but are not limited to: 

  • Notices from tenants closing operations and not paying rent caused by loss of      income.
  • Notice of inability to make loan payments due to reduced sales, suspended operations.
  • Increased cost related to COVID-19 prevention measures.
  • Notice of disrupted supply network leading to shortage of critical inventory or      materials.
  • Other circumstances subject to review on a case by case basis

 

APPLY

Before applying to this program, please review these Frequently Asked Questions. Click here to apply.

CONTACT

For more information about this COVID-19 grant fund, send an email to the Commerce COVID-19 Team Assistance at covid-19.application@maryland.gov.

COVID-19 Layoff Aversion Fund - Workforce Development and Adult Learning

Governor Larry Hogan and the Department of Labor (Labor) are excited to announce the new COVID-19 Layoff Aversion Fund, which is designed to support businesses undergoing economic stresses due to the pandemic by preventing or minimizing the duration of unemployment resulting from layoffs. This funding source will be a quick deployable benefit and customizable to the specific needs of your business. Labor is accepting grant applications from small businesses for awards from now through 30 days after the State of Emergency ends (subject to funding availability). Awards will be distributed on a rolling basis.


How can it help you?

  • Providing funds to cover the cost of purchasing remote access (ex. computers, printers, etc.) equipment to allow employees to work remotely from home versus being laid off;
  • Providing funds to cover the cost of purchasing software or programs that an employee would need to use from home; 
  • Supporting businesses that take advantage of the Work Share Unemployment Insurance Program (https://www.labor.maryland.gov/employment/worksharing/) by supplementing the employee’s income and benefits;
  • Providing funds to cover the costs of cleaning/sanitizing supplies and/or services that will allow a small business to maintain an onsite workforce as a result of exposure reduction through frequent deep cleaning;
  • Paying for liability insurance for restaurants that convert to delivery while under emergency circumstances;
  • Providing funds for training or professional development opportunities for employees to avoid layoffs; and
  • Adopting other creative approaches and strategies to reduce or eliminate the need for layoffs in the small business community.

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How much money is available to help your business?

  • Your business may be eligible to receive up to $50,000.
  • Payment is provided to your business to reimburse for cost, or as an advance payment, or to a vendor on your business’ behalf.


How do I know if you are eligible and how do you apply?

Please see our policy guidelines for eligibility requirements and download the application. Submit

a 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 visit the Maryland Business Express website at https://businessexpress.maryland.gov/coronavirus or contact the Division of Workforce Development and Adult Learning at laborCOVID19.layoffaversion@maryland.gov.

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