COVID-19 Small Business Relief

Federal Assistance

US Small Business Administration

In addition to traditional SBA funding programs, the CARES Act established several new temporary programs to address the COVID-19 outbreak. See the SBA Coronavirus Pandemic Loans Comparison Guide to better understand the differences between each program.  

Restaurant Revitalization Fund

Applications are now closed. 

This program provides emergency assistance for eligible restaurants, bars, and other qualifying businesses impacted by COVID-19.

Shuttered Venue Operators Grant

This grant provides emergency assistance for eligible venues affected by COVID-19.

Economic Injury Disaster Loan 

EIDL is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue. EIDL proceeds can be used to cover a wide array of working capital and normal operating expenses, such as continuation to health care benefits, rent, utilities, and fixed debt payments.

Paycheck Protection Program

Notice: the Paycheck Protection Program (PPP) ended on May 31, 2021. Existing borrowers may be eligible for PPP loan forgiveness.

SBA Debt Relief

As part of SBA’s debt relief efforts,

  • The SBA will automatically pay the principal, interest, and fees of current 7(a), 504, and microloans for a period of six months.
  • The SBA will also automatically pay the principal, interest, and fees of new 7(a), 504, and microloans issued prior to September 27, 2020.

Find more information on traditional SBA lending options.

Internal Revenue Service/Treasury Department

Employee Retention Credit

The Treasury Department and the Internal Revenue Service launched the Employee Retention Credit, designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19.   

State of Maryland Assistance

Maryland Department of Commerce

Small, Minority and Women Owned Business Account COVID-19 RELIEF Program

To support Maryland’s small businesses facing continued financial impacts from the novel coronavirus, the state established through bipartisan legislation the Maryland Small, Minority and Women-Owned Business Account COVID-19 RELIEF Program in 2021 with $10 million in state Relief Act funding.

Maryland Small Business Development Financing Authority - COVID-19 Emergency Relief Loan Fund 

The new MSBDFA Program - COVID-19 Emergency Relief Loan Fund provides emergency financial relief to eligible businesses that have experienced economic hardship due to the ongoing pandemic with low-interest rates and low-documentation loans. Five-year term loans ranging from $25,000 to $200,000 will be available with an interest rate of zero percent for the first 12 months and two percent for the remaining term of the loan.  

Check the Status of Your Maryland COVID-19 Loan/Grant

If you have submitted an application for the Maryland Small Business COVID-19 Emergency Relief Loan/Grant you can now check the status of that application by signing up for a Maryland OneStop account. Please be sure to use the same email address that was used in your original application. This does not offer updates on federal loan applications.

Maryland COVID-19 Emergency Relief Manufacturing Fund 

This $5 million incentive program helps Maryland manufacturers to produce personal protective equipment and other items identified as Critical Needs Items by MEMA and DGS, that are urgently needed by the State of Maryland, Maryland-based hospitals and healthcare facilities, and emergency and first responders.