Business grant program unveiled

County has $200 million in CARES Act funding to spend by year’s end, and awarding it begins now.

Montgomery County has $200 million in CARES Act funding to spend by Dec. 31, and that work begins now with grants to qualified small businesses, county leaders said Thursday.

The county has received $92.5 million of that amount so far. To start moving that money, county officials announced a $40 million grant program aimed at certain small businesses affected by the COVID-19 pandemic.

The money is aimed at locally owned small businesses within Montgomery County with fewer than 30 employees, less than $1 million in gross annual review, who can demonstrate harm from the pandemic, among other criteria. Businesses also must be current on their taxes.

County leaders estimate the money could help thousands of local small businesses.

More assistance programs will be announced in coming days, county leaders said, including programs aimed to help keep residents in their homes.

The county needs to allo

cate the federal CARES — Coronavirus Aid Relief and Economic Security — Act money well before Dec. 31 this year, county Administrator

Michael Colbert said. Given the program’s audit and other requirements, that’s no small task, he said.

“The overarching need is to find out where the needs in the community are,” Colbert said.

And that need for these business grants is unmistakable, county leaders believe.

“I know several businesses that are probably not going to reopen,” said Commissioner Debbie Lieberman. “And that’s heartbreaking because they worked so hard.”

Commissioner Carolyn

Rice knows of businesses barely getting by on a small percentage of revenues they once enjoyed.

“We all know this is not going to be solved overnight,” Rice said.

Marvene Mitchell-Cook, a longtime county employee who has worked in development and workforce services, will lead the county’s new Office of CARES Act.

“I encourage small business owners to apply immediately so they can get the help they need to recover,” Cook said.

Businesses have until Nov. 30 to apply.

President Trump signed the $2 trillion CARES Act into law March 27.