On Saturday, County Executive Steaurt Pittman announced that the county is offering grants up to $50,000 to help small businesses damaged or forced to close during last week’s coastal flooding.
The program, named the VOLT Disaster Recovery Relief Program, has already opened applications, which it will consider on a rolling basis. The grant funding is made available by $1,000,000 in funding from Maryland’s video lottery terminal (VLT) loan program.
The grants and application processes will be managed by the Anne Arundel Economic Development Corporation (AAEDC).
“As a small business owner, I know how hard it can be to recover from property damage and business interruptions caused by events like this storm,” Anne Arundel County Executive Steuart Pittman said. “I want to thank the AAEDC for moving quickly to make this program available, and I want to encourage all impacted business owners to make use of these funds if your business is eligible.”
According to a press release from the Anne Arundel Economic Development Corporation:
With priority given to businesses most affected by the storm, the program will allow eligible businesses to use the grants for any legitimate business expense including physical property repairs, replacement of equipment, loss of income from being closed, replacement of damaged inventory and working capital needed to get business operations up and running.
Each applicant will be required to submit:
- a VOLT application
- Copy of 2019 or 2020 business tax returns or schedule C;
- a statement listing all damages, including details of the loss of income
- a budget detailing the use of grant proceeds
- a completed W-9 form
Applicants will also be required to be available for a site visit to review damages to the property/business.
Previous Conduit Street Blog coverage on last week’s coastal flood and extreme weather events: