ANNAPOLIS, Md. (WJZ) — Small businesses in Maryland hit hard by the coronavirus pandemic now qualify for financial help from the U.S. Small Business Administration, Gov. Larry Hogan’s office said Thursday evening.
Hogan said the Small Business Administration approved a request to use funds from the Economic Injury Disaster Loan program to provide low-interest loans to small businesses in the state.
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Numerous restaurants, bars and shops have been ordered to close to stop the spread of COVID-19, leaving employees and owners wondering when they’ll see their next paycheck.
“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,” Hogan said in a statement. “This program will offer immediate relief to our small business community and help them to remain afloat during this difficult time.”
Small businesses and non-profits can apply for the loans directly with the SBA; click here for more information.