This page provides updates on business resources related to COVID-19.
State Financial Assistance for Businesses:
Maryland Small Business COVID-19 Emergency Relief Loan Fund – This COVID-19 Emergency Relief $75M Loan Fund offers working capital to assist Maryland for-profit small businesses disrupted operations due to COVID-19.
Maryland Small Business COVID-19 Emergency Relief Grant Fund – This COVID-19 Emergency Relief $50M Grant Fund offers working capital to assist Maryland small businesses and nonprofits with disrupted operations due to COVID-19.
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.
COVID-19 Layoff Aversion Fund: Workforce Development and Adult Learning – A new fund designed to support businesses undergoing economic stresses due to the pandemic by preventing or minimizing the duration of unemployment resulting from layoffs.
Federal Financial Assistance for Businesses:
U.S. Small Business Administration (SBA) – Individual businesses can apply to SBA for low-interest loans through the Economic Injury Disaster Loan Program.
Additional SBA Resources: SBA Disaster Loan Assistance and Coronavirus (COVID-19): Small Business Guidance & Loan Resources
$2 Trillion Stimulus Package – Overview of the $2 trillion stimulus package, which provides financial assistance for businesses and individuals.
Other Financial Assistance Programs for Businesses:
Harry and Jeanette Weinberg Foundation – On March 27, 2020, the Weinberg Foundation announced $4 million in emergency grant.
The Ogden Newspapers – Ogden Newspapers has established a $1M grant fund to assist locally owned businesses in Frederick County.
Guidance on Taxes:
U.S. Treasury Department, Internal Revenue Service (IRS) – Treasury, IRS and Labor announce plan to implement Coronavirus-related paid leave for workers and tax credits for small and midsize businesses to swiftly recover the cost of providing Coronavirus-related leave.
Comptroller of Maryland – The Office of the Comptroller has taken actions to extend the time for income tax filing and income tax payments.
Employer & Worker Assistance for Businesses:
Division of Unemployment Insurance – File unemployment insurance claims
Maryland Healthy Working Families Act (Safe and Sick Leave) – This information is useful for employees who need to take off from work due to COVID-19.
Office of Small Business Regulatory Assistance – Help for Maryland business owners to find timely and effective solutions to issues, so they can continue running their companies. Email osbra.inquiry@maryland.gov to learn more.
Preparing Workplaces for COVID-19 – The U.S. Department of Labor has developed guidelines for how companies can prepare their workplace for COVID-19.
CARES Act Expands Health Coverage Rules – This act makes a variety of changes affecting health plans.
(*This page was last updated on March 30, 2020)
