Maryland COVID-19 Emergency Relief Fund Programs for Businesses

March 23, 2020

*April 7, 2020 Update: The Maryland Small Business COVID-19 Emergency Relief Grant & Loan Funds have closed (unless you started an application in the portal, then you have until 5 pm Tuesday, April 7, to finish). Businesses are encouraged to consider applying for the EIDL & PPPL programs.

Governor Larry Hogan and the Maryland Department of Commerce today announced they have 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.
• 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.
• 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.

From the Maryland Department of Labor

• COVID-19 Layoff Aversion Fund– This fund is designed to support businesses undergoing economic stresses due to the pandemic by preventing or minimizing the duration of unemployment resulting from layoffs. The award (up to $50,000 per applicant), will be a quick deployable benefit and customizable to the specific needs of your business to minimize the need for layoffs.

Other helpful resources:

• Interpretive Guidance on Order of the Governor of the State of Maryland, Number 20-03-23-01, dated March 23, 2020, Businesses, Organizations, and Facilities That May Remain Open.
• How Maryland Businesses Can Help (Maryland Unites) 
• Where to Buy Local Food While Social Distancing (Maryland Farmers Market Association)

Further updates are posted to Maryland Business Express.

Take the COVID-19 Affected Anne Arundel Businesses Survey »