To support Baltimore County’s small businesses, County Executive Johnny Olszewski announced $10 million in new grant funding for the Baltimore County COVID-19 Small Business Relief Grants Program.
“Small businesses are a critical link of our county’s economy, and we must do all that we can to support them in meeting their basic needs during this crisis,” said County Executive Olszewski. “As we move toward economic recovery, these grants will provide a critical bridge to Baltimore County small businesses who have not received other forms of assistance.”
According to a press release:
The Department of Economic and Workforce Development (DEWD) will administer the Baltimore County COVID-19 Small Business Relief Grants Program, which will award grants of up to $15,000 each to more than 650 Baltimore County-based small businesses on a first-come, first-served basis.
The County has set a goal to award at least 25 percent of grant funding to women and minority-owned businesses.
The County will fund these small business relief grants through the Economic Development Revolving Financing Fund, and intends to pursue emergency disaster reimbursement from the federal government.
Grant Criteria, Application and Terms
Grant applications will be posted on the DEWD website and will be accepted beginning May 11, 2020. To qualify for this grant program, small businesses must retain at least half of the workforce they had prior to January 31, 2020, which must have included at least two non-owner employees prior to Maryland’s Stay-at-Home Order. They must also:
- have at least two employees who are not owners or part-owners,
- have no more than 25 employees per Baltimore County establishment,
- demonstrate that they have lost at least 40 percent of their revenues since the Stay-at-Home Order began,
- have been in operation for at least one year as of January 1, 2020, and commenced operations by December 31, 2018 or earlier, and
- certify that they have not received other forms of federal or state COVID-19 assistance or relief at the time of application, and
- be in good standing and not in default with the State of Maryland and Baltimore County.
Grant funds may only be used for payroll, operating expenses, business lease or rent, and inventory acquisition vital to the business, with at least 30 percent of the funds used to support payroll for non-owners. Funds may not be used for capital improvements or personal expenses, and if a business fails to reopen, all grant funds must be returned to the County within 14 days.
Baltimore County Press Release: Olszewski Announces Major COVID-19 Economic Relief Efforts