A new Montgomery County program can help small for-profit businesses in the community that have been hurt economically by the coronavirus pandemic.
Beginning at 10 a.m. on June 10, applications will open for the Microenterprise Stabilization Program.
The program helps for-profit businesses with five or fewer employees and includes businesses with no employees, such as sole proprietors and independent contractors, according to the official county website.
The effort will provide financial assistance to businesses that have lost revenue in effect of COVID-19.
Aside from a business having to physically reside in the county, at least 51 percent of a business’s revenue must be generated in Montgomery County.
Applicants must also be U.S. citizens or qualified aliens, according to the website.
Funds to support the initiative include $1 million from the Community Development Block Grant and the CARES Act programs.
Submitted applications will each receive a random number and be considered in that order, according to the website.
Applications will close at 5 p.m. on June 16.
Montgomery County will offer webinars explaining the program and answering questions every morning starting at 9 a.m. until June 13 (excluding Sunday, June 7).
For more information, visit www.montgomerycountymd.gov/biz-resources/msp/.
📢 Montgomery County will begin accepting applications to its Microenterprise Stabilization Program beginning at 10 a.m. Wednesday, June 10. The initiative is designed to help for-profit businesses with five or fewer employees. Details: https://t.co/FkekbKBFH4. pic.twitter.com/GO6COXpOJZ
— Montgomery County MD (@MontgomeryCoMD) June 7, 2020
