Coronavirus Latest: Prince George's County Launches Business Relief Fund
LARGO, Md. (WJZ) -- Prince George's County Executive Angela Alsobrooks launched Wednesday a business relief fund to assist local small businesses facing economic hardship due to the coronavirus pandemic.
The new initiative is a public-private partnership of County and private resources providing loans and grant funding of up to $15 million for area businesses.
The Prince George's County Council approved $10 million in EDI Funds during a virtual council session on Tuesday.
$5 million of the relief fund comes from local banks and private entities.
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Small businesses will have access to loans up to $100,000 and grant funding of up to $10,000.
Eligible businesses can apply for the funds through the Prince George's County Economic Development Corporation beginning April 13, 2020.
For the latest information on coronavirus go to the Maryland Health Department's website or call 211. You can find all of WJZ's coverage on coronavirus in Maryland here.
