Potomac Financial Consultants

Financial & Financial Advisors

March 24, 2020

Governor Larry Hogan and the Maryland Department of Labor have launched the new COVID-19 Layoff Aversion Fund, which 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.

Labor is accepting grant applications from small businesses for awards from now through 30 days after the State of Emergency ends (subject to funding availability).

http://www.labor.maryland.gov/employment/covidlafund.shtml

March 23, 2020

Maryland Small Business COVID-19 Emergency Relief Grant Fund

This COVID-19 Emergency Relief $50M Grant Fund offers working capital to assist Maryland small businesses and nonprofits with disrupted operations due to COVID-19. Grant assistance is intended to provide interim relief complementing actions with its bank, business interruption insurance, and financial partners.

Maryland Emergency Relief Fund Information

Emergency Relief Fund Online Application

March 21, 2020

Maryland Dept. of Labor, Commerce, Health, Permitting, Emergency Management, and others are working together disseminate information through one website and promised to keep it transparent and up-to-date as things progress.

Maryland Business Express: Coronavirus

State officials are also sharing a common Google Docs file which they are updating frequently:

COVID-19 Resources for Businesses and Employers

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