Maryland has authorized a $50M COVID-19 Emergency Relief Grant Fund to provide working capital to Maryland nonprofits and small businesses. Nonprofits with 50 or fewer employees can apply for grants of up to $10,000 (but not more than three months of cash operating expenses).
To be eligible to apply, the nonprofit needs to have employees and have withheld payroll taxes, and annual revenues should not exceed $5M. Revenues need to be evidenced by financial statements or recent tax information return. This grant is meant to help in the short term and eligible nonprofits in need of assistance should also apply for funding through their bank, Small Business Administration loans, or other sources.
To learn more and apply for a grant from the Maryland Small Business COVID-19 Emergency Relief Fund, click here.