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7. Coronavirus (COVID-19) Information for Businesses

  • ECONOMIC RELIEF PACKAGE
    • Governor Hogan announced new COVID-19 business relief programs on March 23. These resources are available through the Department of Commerce.
    • Please visit our Emergency Relief Fund FAQ for any questions you might have about these programs. If you have other questions or concerns about these specific questions about these funds, please email fpaaworkflowcoordinator.commerce@maryland.gov.
    • Under the new federal CARES Act, $350 billion will be used to establish the Paycheck Protection Program (PPP), which provides loan guarantees to small businesses to assist with payroll costs for workers who are forced to stay home. Read more.
    • For companies with more than 500 employees, the CARES Act provides $500 billion distributed to distressed industries, including passenger airlines, cargo air carriers, and industries related to national security. Read more.
    • The CARES Act establishes a refundable, 50% payroll tax credit covering up to $10,000 paid per employee, including benefits from the period of March 13, 2020 to December 31, 2020. Read more.
    • The CARES Act also includes support for economic development agencies and programs, including funding for the Community Development Block Grant, assistance to minority business development centers and minority chambers of commerce, several million for state arts and humanities agencies and partners, and more, to assist businesses in need. Read more.
  • Economic Injury Disaster Loan:
    • 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. Due to high volume on their website, SBA is also accepting applications through email and fax.
    • Download the applications online. You can email them to Ela.doc@sba.gov or fax to 202-481-1505.
  • View an ongoing list of FAQs here for Maryland businesses planning and responding to the Coronavirus.
  • The Department of Health hosted a webinar featuring information and guidance for businesses about coronavirus and preventing its spread in the workplace here or watch the recording here.
  • We encourage members of the business community to reach out with their questions by sending a message to Secretary.Commerce@maryland.gov.

For more information, visit businessexpress.maryland.gov/coronavirus.