MARYLAND (WDVM) — Small businesses impacted by the COVID-19 pandemic can now get financial assistance via low-interest federal disaster loans, Maryland Governor Larry Hogan said Thursday.
Maryland received official designation from the U.S. Small Business Administration (SBA) for its Economic Injury Disaster Loan program. Small businesses and private non-profit organizations can apply directly to the SBA for financial assistance here. The loans will help businesses to pay bills, payroll and other payments while mandatory closures are in effect to prevent spreading the novel coronavirus.
“Our first and foremost priority is protecting the health and safety of Marylanders, but we are also deeply concerned about the economic impact of this pandemic, which is why we worked quickly with our federal partners to apply for this designation,” said Hogan in a press release. “This program will offer immediate relief to our small business community and help them to remain afloat during this difficult time.”
For additional business resources available during the COVID-19 outbreak, please visit businessexpress.maryland.gov/coronavirus.