COVID-19 Resources for Maryland Businesses

To assist Maryland’s businesses, MWBC has created this resource page that includes information and links to financial assistance and clarification about what qualifies as a non-essential business. We will continue to update this page as more information becomes available, so check this page often and follow us on social media–Facebook, Twitter, LinkedIn, and Instagram.

If you have questions or need help, schedule a call with one of our business counselors. Call us at (301) 315-8091 to get connected.  

  • Restaurant Employee Relief Fund – Guy Fieri and the National Restaurant Association  Education Fund (NRAEF) has launched a relief fund to distribute $500 checks to restaurant workers affected by coronavirus. Restaurant workers can apply for a grant starting Thursday, April 2, and will receive a one-time $500 check within three weeks to use toward housing, medical bills, student loans, groceries, and other expenses. The NRAEF stipulated that these grants would be administered on a “first-come, first-serve basis.” To apply or to donate, visit Restaurant Employee Relief Fund.
  • CARES Act – Congress has passed the the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which approves $350 billion in emergency loans for small businesses to help them keep workers employed. In fact, if small businesses maintain or later restore their payrolls, they may not have to repay some—or possibly any—of the loan. There’s a 15-day period during which the administration will develop the programs and regulations to implement the CARES Act, so more details, including the list of lenders offering loans under the program, will be released in the coming weeks. In the meantime, here’s a guide and checklist from the U.S. Chamber of Commerce to help your small business through the process when it becomes available. 
  • Maryland Small Business COVID-19 Emergency Relief Loan Fund – This $75 million 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. Learn more.
  • Maryland Small Business COVID-19 Emergency Relief Grant Fund – This $50 million grant program offers grant amounts up to $10,000, not to exceed 3 months of demonstrated cash operating expenses for the first quarter of 2020. Learn more.
  • 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 healthcare workers across the country. More information coming by Friday, March 27, 2020.
  • The U.S. Small Business Administration (SBA) will provide low-interest loans to companies affected by the outbreak, with President Trump asking Congress to increase funding for the SBA lending program to $50 billion.
  • SBA Economic Injury Loan Program – The SBA has declared the State Maryland an Economic Disaster Area for all 24 counties and is providing disaster loan assistance. Be sure to use disaster incident number “MD-00041.”
  • Maryland Layoff Aversion Grants – A total of $7 million in funds will be available through The Maryland Department of Labor to provide flexible rapid response services to proactively support businesses and workers undergoing economic stresses due to COVID-19. Grants up to $50k will be available. Learn more.
  • Additional links for businesses:

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