Please see the following federal/state business funding and health resources to aid Maryland manufacturers as they look to address their immediate needs
Additionally, the Maryland Business Relief Wizard will search programs available to your company/organization based on your company/organization characteristics
RMI supports the Maryland Manufacturing Network, a platform for SUPPLIERS to share their current resources and capabilities and for BUYERS to identify these suppliers and share their current and upcoming needs. See online Manufacturing Directory.
See RMI’s Service Directory of RMI Member Service Companies Supporting MD Manufacturers for the COVID-19 Recovery Phase
Maryland Strong Roadmap to Recovery
- A Message from Governor Larry Hogan – The Maryland Strong Roadmap to Recovery is designed to get Maryland moving again. As a lifelong small businessman, there is no one who wants to get the Maryland economy open again more than I do.
- Governor Hogan’s COVID-19 Response Page – The Hogan administration is committed to being transparent, keeping Marylanders fully informed, taking actions based on detailed planning, and making decisions based on the facts on the ground.
Payroll Protection:
- Payroll Protection Program for Small Businesses– The Paycheck Protection Program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities.
Grants:
- COVID-19 Layoff Aversion Fund– directs grants to small businesses experiencing economic stresses in order to mitigate potential layoffs or facility closures due to COVID-19 and promote “social distancing.” Eligible businesses may apply for funding up to $50,000.
- Maryland Small Business COVID-19 Emergency Relief Grant Fund– $50 million grant program offers grant amounts up to $10,000, not to exceed 3 months of demonstrated cash operating expenses for the first quarter of 2020.
- Maryland COVID-19 Emergency Relief Manufacturing Fund– $5 million incentive program helps Maryland manufacturers to produce personal protective equipment (PPE) that is urgently needed by hospitals and health-care workers across the country.
Loans:
- Maryland Small Business COVID-19 Emergency Relief Loan Fund– $75 million loan fund offers no interest or principal payments due for the first 12 months, then converts to a 36-month term loan of principal and interest payments, with an interest rate at 2% per annum.
- SBA COVID-19 Disaster Assistance Loans– Loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses.
Comprehensive Listing of State and Local Programs:
