April 28, 2021

New Assistance Available to Small, Minority-, Veteran- or Women-owned Business Negatively Impacted by COVID-19 Health Crisis

A new program of assistance is now available from Maryland for small, minority-, veteran- or women-owned businesses that have been negatively impacted by the COVID-19 health crisis. The Small, Minority and Women-Owned Business Account COVID-19 Relief Program offers up to $50,000 in paired loans and grants to eligible businesses.

The assistance is available on a first-come, first-served basis.

More details on the program, including how to apply, is available at the Montgomery County Economic Development Corporation website at https://thinkmoco.com/covid-19-resources.

The COVID-19 Emergency Relief Grant Fund offers working capital to assist Maryland small businesses and nonprofits with disrupted operations due to COVID-19. Assistance is intended to provide interim relief complementing actions with banks, business interruption insurance and financial partners.

“Our small, minority-, veteran- and women-owned businesses have been significantly impacted by the COVID-19 pandemic and I encourage all applicable businesses to apply for this State program,” said Montgomery County Executive Marc Elrich. “We are appreciative to Governor Hogan and the Maryland Department of Commerce for providing this funding. Our Economic Development Corporation has been aggressively marketing this opportunity.”