The new location for this page is
https://www.montgomerycountymd.gov/business/covid19.html
Business Assistance Programs
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SBA Economic Injury Disaster Loan Assistance and Loan Advance (EIDL) - $10,000 emergency advance
- Economic Injury Disaster Loans
Working capital loans of up to $2 million to provide vital economic support to small businesses to help overcome the temporary loss of revenue from COVID-19. - SBA Emergency Economic Injury Loan Advance
Small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000 for economic relief. Loans would go to businesses that are experiencing a temporary loss of revenue due to COVID-19. Funds will be made available within three days of a successful application. This loan advance will not have to be repaid.
- Economic Injury Disaster Loans
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SBA Paycheck Protection Program
Provides direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest or utilities. Available through June 30, 2020. -
SBA Small Business Debt Relief Program
Provides a reprieve to small businesses overcoming the challenges created by COVID-19.- The SBA will pay the principal and interest of current 7(a) loans for a period of six months.
- The SBA also will pay the principal and interest of new 7(a) loans issued prior to September 27, 2020.
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IRS Employee Retention Tax Credit
Encourages businesses to keep employees on their payroll. The refundable tax credit is 50 percent of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19. - IRS Delay of Payment of Employer Payroll Taxes
Allow businesses to defer paying the employer portion of certain payroll taxes through the end of 2020, with all 2020 deferred amounts due in two equal installments (one at the end of 2021, the other at the end of 2022). -
MD COVID-19 Emergency Relief Manufacturing Fund
$5 million incentive program helps Maryland manufacturers to produce personal protective equipment and other items identified as Critical Needs Items by the Maryland Emergency Management Agency and Department of General Service. These are items that are urgently needed by the State of Maryland, Maryland-based hospitals and healthcare facilities and emergency and first responders. -
MD Small Business COVID-19 Emergency Small Business Relief Grant
(no longer accepting applications)
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 that complements other sources of funding including banks, business interruption insurance and financial partners. -
MD Small Business COVID-19 Emergency Relief Loan
(no longer accepting applications)
$75M Loan Fund offers working capital to assist Maryland for-profit small businesses whose operations have been disrupted by COVID-19. Loan assistance is intended to provide interim relief that complements other sources of funding including banks, business interruption insurance and financial partners. - MD COVID-19 Layoff Aversion Fund – Workforce Development/Adult Learning (no longer accepting applications.)