Resources for Queen Anne’s County Businesses
Queen Anne’s County Economic Development and Tourism would like to let our small businesses know about updates and programs available during COVID-19
The Maryland Department of Commerce has a list of resources with links for more information and to apply. https://govstatus.egov.com/md-coronavirus-business
There are three programs available from the State of Maryland in response to COVID-19
Maryland Small Business COVID-19 Emergency Relief Loan Fund offers no interest or principal payments due for the first 12 months, then converts to a 36-month term loan of principal and interest payments, with an interest rate at 2% per annum. This program is for businesses with 50 or less employees and offers loans up to $50,000.
Maryland Small Business COVID-19 Emergency Relief Grant Fund offers grant amounts up to $10,000, not to exceed 3 months of demonstrated cash operating expenses for the first quarter of 2020.
Maryland COVID-19 Emergency Relief Manufacturing Fund is an incentive program that helps Maryland manufacturers to produce personal protective equipment (PPE) that is urgently needed by hospitals and health-care workers across the country.
For all of these programs it is suggested that you print out the application first, gather the required information and fill out before you enter it online. Incomplete applications will not be accepted.
The Small Business Administration is offering low interest loans and grants through the Economic Injury Disaster Loan (EIDL) program. This program is now being offered to sole proprietors as well. Visit sba.gov for more information and to apply.
Additional financial resources will become available soon including the Payroll Protection Program Loan and Express Bridge Loan. These programs were part of the recently past CARES act and will be rolled out shortly.
Any businesses that are looking for assistance or have questions can contact Queen Anne’s County Economic Development and Tourism at 410-604-2100 or email Director Heather Tinelli firstname.lastname@example.org
Links to resources and information can also be found choosequeenannes.com or visitqueenannes.com