Mount Airy Employers and Employees

Below is a listing of resources for both employee and employer aid from the State and Federal government. The Maryland Department of Commerce Secretary reported yesterday that they are working evenings and weekends to try and expedite the volume of applications and inquiries they have been receiving. They recommend that Marylanders log in before 11:00 AM or into the evening when demand is lower.  

We will continue to pass on important information as we receive it.

The Town of Mount Airy

Maryland Small Business COVID-19 Emergency Relief Grant Fund

Small Business & Nonprofits with 50 or less employees impacted by COVID-19:

• Grants up to $10,000, not to exceed 3 months operating expenses
• Must be established prior to March 9, 2020
• Must be in good standing
• Annual revenues not to exceed $5 million
• Business/Nonprofit is expected to seek longer term funding through its bank, SBA or other source.
• Eligible uses:  Working capital to support payroll, rent, mortgage, utility, other similar expenses that occur in ordinary operations.
• Business/Nonprofit must demonstrate financial stress of disrupted operations such as
  • Notices from tenants closing operation and not paying rent caused by loss of income
  • Notice of inability to make loan payments due to reduced sales, suspended operations
  • Increased cost related to COVID-19 prevention measures
  • Notice of disrupted supply network leading to shortage of critical inventory or materials
  • Other circumstances, reviewed on a case by case basis

Maryland Small Business COVID-19 Emergency Relief Loan Fund

Small Businesses with 50 or less employees impacted by COVID-19:

• Loans up to $50,000, not to exceed 3 months operating expenses
• 0% interest for first 12 months, 2% for remaining 36 months
  • Deferral of any payment for the first 12 months, straight amortization beginning in the 13^th month through the 36^th month
• Must be established prior to March 9, 2020 and in good standing
• Two years of historical financial statements and most recent interim statement to benchmark revenue against (if available)
• 6 month pro forma (an assumption or forecast) of estimated lost revenue or other documented loss evidence
• Minimum personal credit score of 575
• No collateral requirements
• Eligible uses:  Working capital to support payroll, rent, mortgage, utility, other similar expenses that occur in ordinary operations.
• Business/Nonprofit must demonstrate financial stress of disrupted operations such as
  • Notices from tenants closing operation and not paying rent caused by loss of income
  • Notice of inability to pay rent or make loan payments due to reduced sales, suspended operations
  • Increased cost related to COVID-19 prevention measures
  • Notice of disrupted supply network leading to shortage of critical inventory or materials
  • Other circumstances, reviewed on a case by case basis

Maryland COVID-19 Emergency Relief Manufacturing Fund

This $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.
More details are expected to be announced by Friday, March 27, 2020.

Click here for more information and to apply

COVID-19 Layoff Aversion Fund - Workforce Development and Adult Learning

This Grant is designed to support businesses undergoing economic stresses due to the pandemic by preventing or minimizing the duration of unemployment resulting from layoffs by:

• Providing funds to cover the cost of purchasing remote access (ex. computers, printers, etc.) equipment to allow employees to work remotely from home versus being laid off;
• Providing funds to cover the cost of purchasing software or programs that an employee would need to use from home;
• Supporting businesses that take advantage of the Unemployment Insurance Work Sharing Program by supplementing the employee’s income and benefits;
• Providing funds to cover the costs of cleaning/sanitization services so that small businesses are able to keep employees at work on site, but only if a frequent deep cleaning to prevent exposure occurred;
• Paying for liability insurance for restaurants that convert to delivery while under emergency circumstances;
• Providing funds for training or professional development opportunities for employees to avoid layoffs; and
• Adopting other creative approaches and strategies to reduce or eliminate the need for layoffs in the small business community.

•  View the One Pager
•  COVID-19 Layoff Aversion Fund Policy
•  COVID-19 Layoff Aversion Fund Application 

Unemployment Insurance Work Sharing Program

Established in 1984 the Work Sharing Unemployment Insurance Program is a voluntary program that provides an alternative to layoffs for employers faced with a temporary, non-cyclical decline in business due to lower economic activity. The program is designed to avoid layoffs by preserving jobs for trained workers. Qualified employers, who participate in Work Sharing, are able to retain an entire employee group by reducing that group's hours of work by a percentage equal to the total reduction of hours that would have been achieved by a layoff.

• Benefits to Employers
  • Maintain high productivity and quality because the existing trained workforce remains in place
  • When business improves, the employer has an intact work force and has avoided time and expense of rehiring and retraining
  • Keeps productivity and employee morale high because workers avoid the insecurity of a layoff
• Benefits to Employees
  • Keep their jobs, avoiding emotional and financial hardships resulting from a layoff
  • Not subject to the same conditions as those under regular Unemployment benefits
    • No active search for other work
    • No accepting offers of suitable work from other employers
    • Receive reduced, partial Unemployment benefits to supplement for lost wages due to the reduction of normal hours

• Employers' Frequently Asked Questions-Work Sharing
• Employees' Frequently Asked Questions-Work Sharing
• Please contact [email protected] for additional information.

SBA Loan Programs for Small Businesses

The SBA Microloan Program gives small business borrowers greater access to loans, providing small businesses with loans up to $50,000, as well as business-based training and technical assistance. The loan can be used for working capital, inventory, supplies, furniture, machinery, and equipment. Applications are filed through intermediary lenders located throughout the United States. You may find a list of intermediary lenders on SBA’s webpage at https://www.sba.gov/content/microloan-program. 

Contact your local SBA District Office for more information at https://www.sba.gov/tools/
local-assistance/districtoffices.

For more information, visit:

https://businessexpress.maryland.gov/coronavirus