March 26, 2020

COVID-19 Business Relief

The team at Old Line Government Affairs and our legal affiliate, Nemphos Braue, continues to closely monitor evolving COVID-related restrictions and actions. We have served as an advisor to the State of Maryland as they develop business relief efforts related to the COVID-19 pandemic. Governor Hogan and Maryland’s Departments of Commerce and Labor have outlined several programs to assist Maryland companies and their employees.

Maryland Small Business COVID-19 Emergency Relief Loan Fund: This COVID-19 Emergency Relief $75M Loan Fund offers working capital to assist Maryland for-profit small businesses (under 50 employees) with disrupted operations due to COVID-19. Loan assistance is intended to provide interim relief complementing actions with a business’s bank, business interruption insurance, and financial partners. Click here for more information and to apply for the loan with the Maryland Department of Commerce.

Maryland COVID-19 Emergency Relief Grant Fund: This COVID-19 Emergency Relief $50M Grant Fund offers working capital to assist Maryland small businesses (under 50 employees) and nonprofits with disrupted operations due to COVID-19. Grant assistance is intended to provide interim relief complementing actions with a business’s bank, business interruption insurance, and financial partners. Click here for more information and to apply for the grant with the Maryland Department of Commerce.

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 details on this program are expected shortly. Click here for the latest information about this fund.

Maryland COVID-19 Layoff Aversion Fund: This COVID-19 Layoff Aversion 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. Click here for more information and to apply for the grant with the Maryland Department of Labor.

We understand that businesses are facing the difficult challenge of keeping their employees safe and healthy while doing everything they can to maintain productivity and serve their customers’ needs during these trying times.

Have Questions? You can call us at 410.337.0500 or contact us.

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