Carroll County expands its Small Business COVID-19 Emergency Relief Grant Fund to include sole proprietors and home businesses.
The Carroll County Board of Commissioners yesterday voted unanimously to expand the County’s Small Business COVID-19 Emergency Relief Grant Fund by $250,000. With the original $500,000, approved on March 31, the County is providing $750,000 in working capital to assist 600 small businesses impacted by the coronavirus public health emergency.
“We must do what we can for these businesses to keep their energy and enthusiasm going. I believe this is part of the backbone in our community where innovation is born. I wish we could do more, but this is at least a step in the right direction,” said Board of Commissioner Vice President Ed Rothstein.
According to a press release:
The $250,000 is earmarked with $50,000 to assist the remaining business applicants who met the criteria before the initial funding was exhausted, and an additional $200,000 specifically targeted for a new area of business, those who are sole proprietors and home-based business. All recipients of the grant funds must be in good standing with the State of Maryland.
Grant assistance is intended to provide interim relief to businesses while complementing actions taken with their bank, business interruption insurance, financial institution, as well as federal and state partners.
The formal process for the grant for sole proprietors and home-based businesses will be established and the county and Department of Economic Development will announce more information as plans are finalized. Interested businesses should watch for information via the Department of Economic Development website at www.carrollbiz.org.
Director of Economic Development Jack Lyburn shared, “We have received and processed for payment the maximum number of verified applications for the initial small business emergency relief funding. We are pleased that the Board of Commissioners recognizes the plight of the home-based sole proprietor and the additional $200,000 funding allocated will address some of their financial needs at this challenging time.”
For up-to-date information and state resources regarding coronavirus, including confirmed case counts and clinician guidance, visit http://health.maryland.gov/coronavirus.