The Board of County Commissioners of Allegany County reopened its recently established COVID-19 Small Business Assistance Fund for small businesses. The fund, announced in March, has already provided over $109,000 in rapid funding for businesses affected most.
“Allegany County is one of the few counties that has committed a large amount of funding to help our small businesses in need. A benefit of local government is being able to act quickly to move these funds out the door to businesses impacted by this pandemic. We are expecting a week turnaround time to process the grants,” commented Commission President Jake Shade.
As is the case with the initial rounds of the grant, funding can be used by businesses to pay rent, mortgages, or utility costs for businesses.
To be eligible, the business must:
- Have a physical address in Allegany County, Maryland
- Must be in good standing with the State of Maryland
- Have no more than 15 full-time employees (as of March 1, 2020)
- Demonstrate a loss of business revenue attributed to COVID-19
- Have no pre-existing tax liens or legal judgments
- Cannot be any of the following entities: home-based businesses, churches or religious institutions, banks & financial institutions, investment/real-estate entities, government agencies
Additional funds are being provided through funding that Allegany County has received through the passage of the CARES Act. To apply for the grant, or for additional resources for businesses and for the community at-large, please visit: http://resources.inallegany.org.