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Financial Assistance

State Programs

Federal Programs

Paycheck Protection Program

  • The Paycheck Protection Program (PPP) provides loan guarantees to small businesses to assist with payroll costs for workers who are forced to stay home. Loans will be available for firms that meet SBA small business size standards, self-employed, sole proprietors, independent contractors (i.e., workers in the “gig” economy), and certain nonprofits including 501(c)(3)s, 501(c)(19)s, and tribal business concerns with fewer than 500 employees.
  • This program guarantees loans issued by banks and other lenders to small businesses. Consult with your existing lender first to see if they are participating in the program or find a participating lender.
  • SBA has provided a loan forgiveness application and FAQ, and additional background on the program.
  • New modifications are being implemented to PPP, including extending the covered period for loan forgiveness and lowering the requirements of a borrower's loan proceeds. June 30 remains the last day a PPP loan application can be approved.

Small Business Administration

  • The SBA’s Economic Injury Disaster Loan (EIDL) program is accepting applications from small businesses, private non-profits, and agricultural businesses.
  • SBA allows small businesses with existing loans to defer payments by up to six months to supplement their cash flow during the crisis. Those businesses should reach out to their lenders to talk about this sort of modification.
  • View general SBA guidance for businesses or use this interactive map to find local assistance, including Small Business Development Centers, Women’s Business Centers, SCORE business mentors, and more.

Additional Resources

Local Programs

The state of Maryland and its local governments received nearly $2.4 billion from the Coronavirus Relief Fund established through the CARES Act. Our 24 jurisdictions will receive $1.05 billion in federal funding, either directly or from the state. Part of this allotment can be used for each county to set up a COVID-19 relief program in order to assist businesses negatively impacted by the pandemic.