These are scary times for small businesses.
All nonessential businesses have been closed by order of the Governor, and no one knows when things will get back to normal. If you’re a small business owner or you work for one, here’s how Maryland’s $175 million small business coronavirus relief program could assist you.
- Loans of up to $50,000 will be provided to businesses with less than 50 employees, as long as the applicants can demonstrate financial stress or disrupted operations. Businesses can apply here.
- Grants of up to $10,000 will be distributed to small businesses and nonprofits that have lost revenue. This should be used for payroll, rent, mortgage, utility costs, and other expenses. Businesses that apply for this grant cannot have annual revenues of more than $5 million. Apply here.
- Businesses can apply for $50,000 in funding that will allow them to retain employees. Learn more here.
- Information about already existing programs is available here
As we navigate through these difficult times together, know that SPARKS! Is still here to meet all of your website needs (while practicing proper social distancing, of course). Contact us today or give us a call at 410-244-5111. Stay healthy and we’ll get through this together!