COVID-19 What you need to know.
Business and Employee Financing
The Maryland Small Business Development Center is offering a free webinar Thursday, March 26 at 1:00 p.m. covering the Economic Injury Disaster Loan Program through the US Small Business Administration. You can sign-up to attend that presentation here: COVID-19 Emergency Relief Funds Resouces for Small Businesses
You can also preview the webinar materials at these links:
U.S. Small Business Administration’s Economic Injury Disaster Loan Program – Kent County businesses and private non-profit organizations can apply for financial assistance from the SBA. Loans can be used to pay bills, payroll, and accounts payable, with long-term payments stretching up to 30 years. Maryland’s Small Business Development Center has put together a fact sheet to help Marylanders apply for an SBA disaster loan.
The SBA Microloan Program gives small business borrowers greater access to loans up to $50,000, as well as business-based training and technical assistance.
Maryland Resource Guide is an A-to-Z guide outlining the latest updates and actions Maryland has taken thus far during COVID-19.
Maryland Small Business COVID-19 Emergency Relief Loan Fund – This $75 million loan fund (for for-profit businesses only) 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.
Maryland Small Business COVID-19 Emergency Relief Grant Fund – This $50 million grant program for businesses and non-profits 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 – This $5 million incentive program helps Maryland manufacturers to produce personal protective equipment (PPE) that is urgently needed by hospitals and health-care workers across the country. More details are expected to be announced by Friday, March 27, 2020.
COVID-10 Layoff Aversion Fund – This fund is designed to support businesses undergoing economic stresses due to the pandemic by preventing or minimizing the duration of unemployment resulting from layoffs. The award (up to $50,000 per applicant), will be a quick deployable benefit and customizable to the specific needs of your business to minimize the need for layoffs.
Division of Unemployment Insurance – If a business experiences a temporary or permanent layoff, Labor’s Division of Unemployment Insurance’s Bulk Claim Services can open unemployment insurance claims for all affected employees. To determine if a business is eligible, please visit our Bulk Claims Services Frequently Asked Questions page.
Tax Filing Deadline Extended to July 15 – The Treasury Department and Internal Revenue Service announced that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. Maryland Comptroller Peter Franchot has announced that Maryland business and individual income taxpayers will be afforded the same relief. No interest or penalty for late payments will be imposed if 2019 tax payments are made by July 15, 2020. Businesses who paid their Maryland Sales & Use Taxes for March early may request a refund of their payment by emailing email@example.com or by calling 410-260-4020.
APG Chesapeake Grant Fund – A $500,000 matching advertising grant fund has been established to assist locally owned businesses market themselves during the COVID-19 State of Emergency. APG Chesapeake will grant $500,000 in matched advertising to locally owned businesses during the months of April, May, and June.
Facebook Small Business Grants Program – Facebook is offering $100M in cash grants and ad credits for up to 30,000 eligible small businesses in over 30 countries where they operate.
Business Resources and Information
Frequently Asked Questions for Maryland Businesses – What does “State of Emergency” mean? Is my business required to close? What is considered an “essential” business or service? My business is hosting an event in the upcoming weeks. Should it be postponed? Learn answers to these common questions and more.
Interpretive Guidance On Businesses That Can Remain Open And Those That Must Close – Order of the Governor of the State of Maryland prohibiting large gatherings and events and closing senior centers, and additionally closing all non-essential businesses and other establishments.
- OLC Interpretive Guidance COVID19-06
- OLC Interpretive Guidance COVID19-05
- OLC-Interpretive-Guidance COVID19-04
Maryland COVID-19 Information for Business – A roundup of Maryland’s response to the COVID-19 crisis.
Small Business Survival Guide – A comprehensive step-by-step guide on how to navigate your business through the crisis. It includes tips on how to talk to creditors, alternative funding sources, and how to leverage social media platforms to communicate to customers.
Interim Guidance for Businesses and Employers – Centers for Disease Control and Prevention (CDC) – The interim guidance may help prevent workplace exposures to COVID-19, in non-healthcare settings. (CDC has provided separate guidance for healthcare settings.) This guidance also provides planning considerations for community spread of COVID-19.
CDC Handwashing Campaign – These print-ready materials can be downloaded, printed, and distributed to help raise awareness about handwashing in public areas, such as public restrooms, kitchen and workplaces.
Updates from State and Federal Agencies
(State) Maryland COVID-19 Case Map Dashboard – An interactive dashboard that shows the total number of confirmed cases of COVID-19 infections here in Maryland by jurisdiction. This map is updated regularly.
(State) The Hogan Administration’s COVID-19 Response – Live updates and the latest news from Governor Larry Hogan.
(Federal) Coronavirus Rumor Control, FEMA – The purpose of this Federal Emergency Management Agency (FEMA) page is to help the public distinguish between rumors and facts regarding the response to coronavirus (COVID-19) pandemic. Rumors can easily circulate within communities during a crisis, stay informed with our updated myth vs. facts related to the federal (COVID-19) response.