Governor Hogan Announces Additional Funding Through COVID-19 Layoff Aversion Fund
October 28, 2020
Are you a small business in need of assistance because of COVID-19? The Maryland Department of Labor is here to help! 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.Layoffaversion2@maryland.gov.
GOVERNOR LARRY HOGAN’S OCTOBER 22 COVID-19 PRESS CONFERENCE
October 10, 2020
Governor Larry Hogan held a press conference on October 22, 2020. Governor Hogan announced new economic relief for Maryland small businesses. Visit: https://gbc.org/governor-larry-hogans-october-22-covid-19-press-conference/ for additional information.
Key Takeaways
- The Governor will make available additional economic relief by investing $250 million from State’s Rainy Day Fund (Revenue Stabilization Account) through Maryland Strong: Economic Recovery Initiative.
- These funds are in addition to the $250 million already provided in economic relief to small businesses.
- The funding is in lieu of federal relief. The Governor criticized federal leaders for failing to provide financial relief to states.
- This new funding will allow expansion of relief programs for small businesses. The $250 million in funding will be allocated as follows:
- $50 million for grants for businesses and non-profits, which is the third installment for the Maryland Small Business Covid-19 Relief Grant Fund program, which was launched in March. This brings the total investment in this program to $145 million. This will also allow the program to fully fund backlog of approved applications already at Maryland Department of Commerce.
- $50 million in new relief for Maryland restaurants to be used for a variety of purposes such as outdoor seating expansion, tenting, heaters, infrastructure (HVAC), technology upgrades for safety, purchase of PPE, and paying rent. This new funding will be provided to local jurisdictions to distribute. The funds must be disbursed by December 31, 2020.
- $20 million will be provided to business and local entertainment venues through Main Street Maryland organizations as well as Baltimore Main Street programs.
- $20 million goes to the COVID-19 Layoff Aversion Fund to help prevent small businesses from having to lay off employees.
- $5 million to the Maryland Small Business Development Financing Authority (MSBDFA) for small minority-owned businesses.
- $2 million to support hometown tourism efforts and promote local restaurants, shops, and attractions.
- $3 million to non-profits, county arts organizations, and local artists.
- $100 million to create a new rapid response fund to deploy funding for pressing economic needs.
Baltimore City COVID-19 Small Business Assistance Initiative
October 10, 2020
Mayor Bernard C. “Jack” Young recently announced that Baltimore City will award up to another $2 million in total grant funds to Baltimore City small businesses. A portion of these funds will be awarded to businesses that are not eligible for SBA loans like the Emergency Impact Disaster Loan (EIDL) or Paycheck Protection Program (PPP).
Small Business Assistance Grant Information
The Grant Application Period will begin on October 7, 2020 and end on October 16, 2020 at 11:59 PM. Grants WILL NOT BE AWARDED ON A FIRST-COME FIRST SERVED BASIS. All applications received during the Grant Application Period will be considered. Any applications received after the end date will not be considered. The maximum grant amount is $15,000. Please click here for full grant terms and conditions and eligibility requirements.
To apply for the grant, please click here.
Small Business Technical Assistance
If you are a business affected by COVID-19 and need assistance navigating and applying to the various available programs, please fill out our Technical Assistance web form. Thank you.
Design for Distancing: Reopening Baltimore Together
BDC is partnering with Neighborhood Design Center develop tactical design concepts for urban public space configurations that can be implemented to create safe, socially distancing patronage of small businesses in our Main Streets and commercial corridors. More information about this initiative, please click here. These design concepts will become part of a free digital Pattern Book with not just the designs, but also additional resources that anyone can use to implement these concepts.
Baltimore City COVID-19 Small Business Assistance Initiative
October 10, 2020
Mayor Bernard C. “Jack” Young recently announced that Baltimore City will award up to another $2 million in total grant funds to Baltimore City small businesses. A portion of these funds will be awarded to businesses that are not eligible for SBA loans like the Emergency Impact Disaster Loan (EIDL) or Paycheck Protection Program (PPP).
Small Business Assistance Grant Information
The Grant Application Period will begin on October 7, 2020 and end on October 16, 2020 at 11:59 PM. Grants WILL NOT BE AWARDED ON A FIRST-COME FIRST SERVED BASIS. All applications received during the Grant Application Period will be considered. Any applications received after the end date will not be considered. The maximum grant amount is $15,000. Please click here for full grant terms and conditions and eligibility requirements.
To apply for the grant, please click here.
Small Business Technical Assistance
If you are a business affected by COVID-19 and need assistance navigating and applying to the various available programs, please fill out our Technical Assistance web form. Thank you.
Design for Distancing: Reopening Baltimore Together
BDC is partnering with Neighborhood Design Center develop tactical design concepts for urban public space configurations that can be implemented to create safe, socially distancing patronage of small businesses in our Main Streets and commercial corridors. More information about this initiative, please click here. These design concepts will become part of a free digital Pattern Book with not just the designs, but also additional resources that anyone can use to implement these concepts.
Maryland Manufacturing Network
Maryland Manufacturing Network is a platform for PPE (Personal Protective Equipment) SUPPLIERS to share their current resources and capabilities and for BUYERS to identify these suppliers and share their current and upcoming needs. If you are either a supplier or someone interested in procuring PPE, please visit this site to register your business or to purchase PPE.
