Coronavirus Relief Programs for Maryland Small Businesses

Small businesses across Maryland are facing significant hardships because of the Coronavirus. Maryland is providing $130 million in loan and grant funds for Maryland-based businesses with less than 50 full and part-time employees. These relief programs can be used to pay for cash operating expenses, such as payroll, suppliers, rent, fixed debt payments and other mission critical cash operating costs.

maryland accountantsPlease click on each program below for more information, including full eligibility criteria.

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.

4/9/20 Update: Applications are no longer being accepted.

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.

4/9/20 Update: Applications are no longer being accepted.

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.

4/21/20 Update: Applications are no longer being accepted.

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