Anne Arundel Economic Development Corporation (AAEDC) distributed nearly $650K in grants to 21 small businesses – 18 of which are located in Anne Arundel County – through its VOLT Disaster Recovery Relief Program (DRRP).
AAEDC Blog by Steve Adams:
Launched on October 30, 2021, the initiative (now closed) accepted applications for grants of up to $50,000 to help businesses recover from both the physical damage and pause in operations sustained as a result of the coastal flooding that impacted Anne Arundel County on October 29th and 30th.
The grants cover any legitimate business expense including physical property repairs, replacement of equipment and damaged inventory, loss of income from being closed, and working capital needed to get business operations back up and running.
In most cases, business owners reported that they would be applying their funds to multiple expenses given the two-pronged impacts of the historic flooding event.
“Flooding has always been a nuisance for businesses on Ego Alley, but this flooding was especially impactful because it not only forced us to replace damaged equipment but also forced us to close ahead of what’s traditionally been a great weekend for business,” said Ryan Lamy, owner of Pip’s Dock Street Dogs.
“It can take weeks or even months for a small business to recover from an unexpected loss like this, so I was thrilled to learn that casino revenue was going to support this program. The application process was quick and easy, and I was extremely grateful to receive this funding that helped us to get back to business as quickly as possible.”
Kate Grove, who was forced to close her waterfront yoga studio, YogaVibez Edgewater, for two days due to the flooding, used her funds to replace damaged equipment, pay for cleaning supplies, and pay her staff for cleaning hours.
“This grant made a huge impact,” said Grove. “Applying for it was an incredibly easy process, with great customer service and quick responses from beginning to end. Thank you to AAEDC for supporting a small, locally-owned business!”
Anthony Clarke reported that the grant helped Pirate’s Cove Restaurant and Dock Bar, in Galesville, recover from and pay for the damage to equipment, carpeting, and drywall that was under water for nearly two full days.
“The grant could not have come at a better time,” said Clarke. “We greatly appreciate the County Executive making time to visit the property during the flooding event and for making grant money available through AAEDC. And we thank AAEDC for making the process as quick and painless as possible thanks to its excellent management and communication.”
By the numbers, AAEDC distributed a total of $647,095. Businesses with fewer than 20 employees received 67 percent of the grants, which ranged from $1,000 to $50,000. The 18 recipients based in Anne Arundel County received a total of $546,095 in funding, while two based in Grasonville each received $50,000 and one based in Oxford received $1,000.
The DRRP was supported by funding from Maryland’s Video Lottery Terminal program, which uses 1.5% of proceeds from video lottery terminals (slots) to assist small, minority, and women owned businesses located in targeted areas surrounding Maryland’s six casinos as well as throughout the state.
Previous Conduit Street Coverage:
Anne Arundel to Offer Grants to Small Businesses Post-Flooding – Conduit Street (mdcounties.org)
Hogan Declares State of Emergency for Counties Affected by Severe Weather, Flooding – Conduit Street (mdcounties.org)