Baltimore County to receive $1.6 million in CARES Act funding
BALTIMORE COUNTY— Baltimore County’s Department of Economic and Workforce Development will receive a $1.6 million from the U.S. Department of Commerce Economic Development Administration’s CARES Act Recovery Assistance grant.
The grant will capitalize Revolving Loan Funds (RLFs) that will provide critical gap financing to small businesses and entrepreneurs for a range of needs including supporting payroll, acquiring equipment and inventory, reconfiguring existing or new space to meet Coronavirus guidelines, capital improvements and more.
Congress wrote and passed the CARES Act earlier this year, with strong provisions to help small businesses and entrepreneurs make it through these difficult times. The grant received by the county’s Economic and Workforce Development (EWD) is one of three grants announced by Maryland’s Congressional Delegation.
The Tri-County Council for Western Maryland will receive a $1 million grant to administer RLFs that will provide critical gap financing to coronavirus-impacted small businesses in Allegany, Garrett, and Washington counties.
The Maryland Department of Commerce will receive a $770,000 grant to administer RLFs that will provide critical gap financing to small businesses adversely impacted by the coronavirus pandemic across Maryland.
“Congress came together in an overwhelmingly bipartisan manner to pass the CARES Act and deliver emergency support to American families and small businesses,” the state Congressional Delegation said in a release.
“While our nation continues to address the public health crisis that is hurting communities coast to coast, we must simultaneously face the economic crisis threatening so many working Americans, entrepreneurs, employers and local communities.
“Small businesses in Maryland and across the country are the engine of our economy and, with so many of them struggling to stay afloat, Congress must build on the CARES Act to deliver more relief for our local communities, small businesses and nonprofits. This pandemic will not miraculously disappear on its own and neither will the economic fallout,” the lawmakers added.
“As a delegation, we supported the Heroes Act, which passed the House of Representatives in May, and continue to urge Senator McConnell to take up this critical legislation in the Senate. Congress must deliver more funding to Marylanders in need.”
Baltimore County’s EDW offers county businesses assistance with confidential location searches, Enterprise Zone Tax Credits and other state or local incentives, offers business counseling and planning, public and private financing packages, and other services.
In terms of helping job seekers, EDW offers computer resource labs, a computerized job bank, professional development seminars in interviewing, résumé writing, etc., individual work space with telephones, labor market and career information, a reference and resource library, training and education resources, veterans services, and youth employment services.