MD Gov Hogan has issued a stay at home order for non-essential businesses effective 5pm today. The Gov has established through the MD Department of Commerce 3 new business assistance programs in response to the COVID-19 pandemic
- Emergency relief Fund - $75M loan fund offers no interest or principal payments due for the first 12 months, then converts to a 36 mo term loan of principle and interest payments, with a rate of 2% rate.
- Emergency relief Grant - $50M 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.
- 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
Please see more details here: https://govstatus.egov.com/md-coronavirus-business