Ho­gan an­nounces $190 mil­lion in COVID-19 re­lief for small busi­nesses, higher edu and non­prof­its

The Dundalk Eagle - - OBITUARIES -

Gov­er­nor Larry Ho­gan to­day an­nounced $190 mil­lion in re­lief to help col­leges, small busi­nesses, and non­profit or­ga­ni­za­tions af­fected by the COVID-19 pan­demic. In to­tal, over the last week, the gov­er­nor has an­nounced $475 mil­lion in new in­vest­ments through the fed­eral CARES Act.

“As Mary­land con­tin­ues to grap­ple with an un­prece­dented fis­cal cri­sis, we are di­rect­ing more than $475 mil­lion in fed­eral re­sources to crit­i­cal sec­tors of our econ­omy,” said Gov­er­nor Ho­gan.“Th­ese re­sources will help make a dif­fer­ence in ar­eas where they are needed most.” $50 Mil­lion in Ad­di­tional As­sis­tance for Small Busi­nesses

$45 mil­lion will be al­lo­cated to ex­pand the Mary­land Small Busi­ness COVID-19 Emer­gency Re­lief Grant Fund. This pro­gram, which awards grants of up to $10,000 to busi­nesses of 50 or fewer em­ploy­ees, has pro­vided more than $40 mil­lion in funds to 4,073 ap­pli­cants. Th­ese ad­di­tional re­sources will be used to help pend­ing ap­pli­cants.

$5 mil­lion will be al­lo­cated to the Mary­land

Small Busi­ness De­vel­op­ment Fi­nanc­ing Au­thor­ity to pro­vide fi­nanc­ing to busi­nesses owned by eco­nom­i­cally and so­cially dis­ad­van­taged en­trepreneur­s. MSBDFA uses in­clude work­ing cap­i­tal, sup­plies and ma­te­ri­als, ma­chin­ery and equip­ment ac­qui­si­tion, land ac­qui­si­tion, or real es­tate im­prove­ments. $50 Mil­lion for the Mary­land Non­profit Re­cov­ery Ini­tia­tive

$50 mil­lion to es­tab­lish the Mary­land Non­profit Re­cov­ery Ini­tia­tive, which will help or­ga­ni­za­tions ad­dress the rev­enue re­duc­tions and ex­pense in­creases that are due to the eco­nomic and safety im­pacts of the COVID-19 pan­demic.

The goal of the ini­tia­tive, which will be op­er­ated by the De­part­ment of Hous­ing and Com­mu­nity De­vel­op­ment (DHCD), is to help sta­bi­lize and sus­tain a range of non­profit op­er­a­tions, in­clud­ing af­ford­able hous­ing and dis­abil­ity non­prof­its.Of this $50 mil­lion, up to $8 mil­lion will be al­lo­cated to non­profit ap­pli­cants that have al­ready ap­plied for re­lief through the Mary­land Small Busi­ness COVID-19 Emer­gency Re­lief Grant Fund.

Of this $50 mil­lion, $3 mil­lion will be awarded through the Mary­land State Arts Coun­cil’s (MSAC) Emer­gency Grant Pro­gram.In re­sponse to the COVID-19 State of Emer­gency, MSAC has cre­ated spe­cial grant op­por­tu­ni­ties that pro­vide emer­gency fund­ing to arts or­ga­ni­za­tions and artists for losses sus­tained be­cause of pro­gram­ming, op­er­a­tions, and events that have been mod­i­fied or can­celled. $90 Mil­lion for Higher Ed­u­ca­tion

Up to $90 mil­lion will be al­lo­cated to re­im­burse state­sup­ported universi­ties for COVID-19 re­lated ex­penses, in­clud­ing sup­port for their pub­lic safety ac­tiv­i­ties.


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