Public Announcements

     

    Maryland Business Resources for COVID-19

     

    U.S. Commercial Service in Maryland


    March 26, 2020

    In an effort to keep our clients up to date on the latest information available, please see below for a list of resources assist you with continued support during this time.

    Maryland Coronavirus Information for Businesses

    Below are additional resources provided by a number of federal and state government agencies that businesses may find helpful. https://govstatus.egov.com/md-coronavirus-business


    Financial Assistance & Taxes

    • The Maryland Department of Commerce is offering three new business assistance programs in response to the COVID-19 pandemic:
      • 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 health-care workers across the country. More information coming by Friday, March 27, 2020.
      • If you have specific questions about these funds, please email [email protected].
    • 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.
    • Governor Hogan announced on March 19 that the entire state of Maryland has received official designation for SBA assistance. Individual businesses can now apply directly to the SBA for low-interest loans through the Economic Injury Disaster Loan program. Visit SBA's website to apply now. If you are having trouble submitting the application online, it can also be mailed or faxed to SBA. General SBA guidance for businesses can be found here. If you need additional help navigating the SBA process, Maryland SBDC can help.

     

    U.S. Commercial Service in Maryland  
    www.export.gov/maryland

    Business Resources:

    Export Import Bank (EXIM) Response and Resources

    Federal Government Responses to COVID-19

    CDC Interim Guidance for Businesses

    US Chamber Coronavirus Small Business Guide

     

    Upcoming Webinar Related to COVID-19

    Baltimore-Washington Global Chamber FREE webinar-Managing and Mitigating Risks for International Business
    Date 
    April 9, 2020- 12:00 ET
    Register
     here.

    The seminar will take place on April 9, 2020 via globinar. Watch for a zoom link when you register or along the way. For more info, please email at [email protected] or call at 443.472.1318.